Monthly Active Developers on Ethereum Rocket Past the 4000 Mark, Recording a 34% Rise in the Last 2 Years
August 30, 2022 (Investorideas.com Newswire) According to an analysis by BanklessTimes.com, Ethereum is maintaining its lead over other projects, with 4,000 monthly active developers indicating a growing interest in building on Ethereum. This is a 34% increase from the 2,972 developers figures recorded in 2020.
According to BanklessTimes.com Jonathan Merry, "Ethereum is attracting the largest percentage of all developers entering Web3. This is likely due to a number of factors, including the strength of its ecosystem, the maturity of its tooling, and the fact that it has a large community. Soon we'll see the launch of Ethereum 2.0, which is set to solve the network's high fees and slow transaction speeds. This will only solidify Ethereum's position as the most popular smart contract platform."
Ethereum's monthly active developers are well ahead of Solana (~1,000), Bitcoin (~500), and chains like Avalanche, BNB Chain, Polygon, NEAR, Tezos, Internet Computer, and Cardano (which all have around ~300).
Development activity surrounding Ethereum is steadily increasing as we inch closer to the Merge upgrade. This network transition will change things over to Proof-of-Stake (PoS) protocol. The upgrade results from years of research and development and will make Ethereum 2.0 a reality. The protocol change will improve several aspects of the network, including transaction speed, scalability, and energy efficiency.
Ethereum's Declining Gas Fees Attracting Developers
In the past, high Ethereum gas fees have hindered development progress on the network. However, gas fees have declined significantly recently, making it cheaper to develop on the network.
The drop in fees has coincided with increased development activity on Ethereum. This suggests that developers are responding to the lower fees by building more on the network. With low gas fees, development activity will likely continue to increase in the coming months. Full story and statistics can be found here: Monthly Active Developers on Ethereum Rocket Past the 4000 Mark, Recording a 34% Rise in the Last 2 Years
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