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Developers are booming in the winter of 2022

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The number of web 3 developers increased by 5.4%, reaching more than 233,000 in the past months despite the cryptocurrency market seeing a 70% drop in cryptocurrency prices.

The crypto winter has had several impacts on the crypto space and other sectors. However, according to recent reports, the number of developers is still increasing during the cryptocurrency winter despite the crisis.

Crypto Winter is great for developers

According to a recent report by Electrical Capital, full-time GitHub web developers also recorded a 15.7% increase to more than 7,000 developers, while one-time web developers dropped 6.2% to more than 3,500 between December 2021 and December 2022.

However, monthly development activity is still on the rise even though the market capitalization is starting to drop from its all-time high, which was $2.9 trillion as of November 2021.

However, monthly development activity only started as of June 2022, when the metric reached an all-time high with numbers totaling around 26,500. This drop was partly attributed to a drop in developer activity in the Terra ecosystem after its catastrophic crash in May 2022.

Weekly developer counts are dropping

Despite the increase, the report shows that Web 3 Developers Weekly fell by 26% between June and September.

More new Web3 developers released their first line of open source coding code last year (109,723) than they would between 2014 and 2020 combined (101,054).

Full-time ETH developers still dominate the developers with their numbers seeing a 9% rise bringing their total to 1873. This new high has seen the ETH development space surpass the combined ecosystems Polkadot, Cosmos and Solana.

This clearly shows that Ethereum continues to dominate the developer activity, as evidenced by the fact that the number of its full-time developers has increased (383).

Don’t rule out other networks yet

Although the Ethereum network is recording such explosive growth rates, other networks have not been left behind in the declines. Cosmos and Solana networks also saw increases of 34% and 36% respectively, with Starknet reporting a whopping 214% increase in total developer numbers.

This makes Starknet one of the most successful mid-sized ecosystems in 2022.

However, these results could have been largely driven by Terra’s collapse. The crash saw only 28 (9%) of the remaining platform’s early developers working on Terra 2.0, while 143 developers (42% of the total) gave up and moved to other ecosystems.

Many developers have reportedly turned to Cosmos and other networks while escaping Terra’s problems. According to Electric Capital, the number of Web 3 developers is much higher than indicated in the study because some of the projects are not open source.

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