The Ethereum ecosystem still has many more developers than rival networks, but they are catching up with a faster growth rate.

Ethereum’s competitors such as Polkadot, Solana and Binance Smart Chain are growing faster in terms of development activityaccording to cryptocurrency research firm Electric Capital, which published its findings on the blockchain development ecosystem in a new report on Jan.6.

Revealed that more than 4,000 active open source developers monthly work on Ethereum, which is considerably more than the 680 working on the Bitcoin network. Across all chains, the total monthly active developers measured was over 18,400 and the record for code commits by new developers was broken in 2021, with more than 34,000.

Measurements were obtained by analyzing around 500,000 code repositories and 160 million code commits, which are changes or updates to the code. The report notes that Ethereum, Polkadot, Cosmos, Solana, and Bitcoin are the top five developer ecosystems overall.

According to the report, Polkadot has about 1,500 developers in total, while Cosmos and Solana are in the thousands each.

Other active ecosystems in terms of monthly developers were Cosmos, NEAR, which launched an $ 800 million developer fund in October, Tezos, Polygon, and Cardano, each with 250+ active monthly developers.

Although Ethereum is still dominant -more than 20% of new Web3 developers joined its ecosystem-, rival networks have seen greater growth.

“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum at similar points in their history.”

Growth of the developer ecosystem from the first commit. Source: Electric Capital

The report compared the average monthly active developers between December 2020 and December 2021, noting that Solana grew 4.9 times, NEAR had a 4X growth rate, and Polygon’s monthly developers more than doubled. Cosmos had a 70% increase in average monthly active developers and BSC of 80% over the course of 2021.

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While development growth figures are impressive for younger projects, Ethereum is still king. The ecosystem still retains the largest network of tools, dapps, and protocols, and is 2.8 times larger than its closest rival, Polkadot..

Solana, Avalanche, BSC, NEAR, and Terra have emerged as DeFi hubs over the past year, attracting more developers as adoption increases.. DeFi’s full-time monthly active contributors grew 64%, and more than 500 new developers contributed code to a DeFi project every month last year apart from January, it was reported.

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