Ethereum has experienced an extraordinary increase in its developer base, growing from just 25 developers in early 2019 to nearly 550 by 2024 - a staggering 2.100% increase.
This surge is a testament to the platform’s strong appeal in the tech and blockchain communities. The main driver of this growth is Ethereum’s position as a leading blockchain platform that offers ample opportunities for innovation and development.
With nearly 2,788 full-time developers and over 8,865 total monthly active developers, Ethereum remains at the forefront of blockchain development.
The network’s robust ecosystem and its continuous development in areas such as smart contracts, decentralized applications and second-layer solutions are attracting top talent.
Developers are attracted by the large community, extensive resources and the platform’s commitment to improving scalability, security and functionality.
The real Ethereum bull run isn’t price – it’s brainpower. 1500% growth in researchers since 2019.
Hard to bet against the collective brainpower of this ecosystem. pic.twitter.com/S1F0eFuDpm
— Emre ⚡ (@n4motto) August 29, 2024
However, Ethereum’s dominant position is not without its challenges. The network has seen a slight decline in developers, with it declining by 10% per year, indicating increasing competition.
However, Ethereum’s long-standing reputation, coupled with continued innovation, continues to cement its role as a key player in the blockchain space. To maintain its edge, the platform must continue to adapt and foster innovation, ensuring it remains attractive to the best and brightest in the field.
PancakeSwap, a decentralized exchange, has reached $836 billion in cumulative trading volume and holds about $1.72 billion in total value locked (TVL) after four years of operation.
Crypto trader Michaël van de Poppe suggested that the Federal Reserve’s recent decision to cut interest rates by 50 basis points could positively influence the crypto market.
PayPal has announced the launch of its stablecoin, PYUSD, on the Solana blockchain, citing limitations in Ethereum for payment solutions.
Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services.