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The crypto industry is struggling to keep new developer talent engaged, according to data from early-stage venture capital firm Electric Capital.<\/p>\n
At the same time, the firm found that today\u2019s developer pool is 66% larger than it was during the bear market three years ago \u2014 despite experiencing a 27% decline over the past year.\u00a0<\/p>\n
Fewer new developers are entering the space because not as many people are giving crypto a try, the VC firm said in a blog<\/a> published Wednesday.<\/p>\n This suggests a complex landscape, where growth and interest in development are present but some face waning enthusiasm.\u00a0<\/p>\n \u201cDevelopers who left crypto recently were newcomers who worked in crypto fewer than 12 months and were only responsible for around 25% of all code commits,\u201d the firm said in an October update.<\/p>\n The report, which defined developers as having left the field if they hadn\u2019t contributed any code for two months, shed light on a downward trend.<\/p>\n The firm\u2019s post contended that monthly new developer numbers fell sharply from about 5,200 in November 2021 to just 1,700 in September 2023.\u00a0<\/p>\n Adding to this, the findings highlighted a division in contribution history.\u00a0<\/p>\n Those developers who bowed out after July 2023 were responsible for about 25% of historical code commits, or additions a developer makes to the source code of a software project.<\/p>\n In contrast, the ones who stayed active past that point have been significantly busier, making up 75% of the code contributions.\u00a0<\/p>\n Additionally, developers active after July 2023 were found to code on more days.<\/p>\n Read more:<\/strong> New Starknet version offers \u2018unprecedented increase in capacity,\u2019 co-founder says<\/a><\/p>\n The report separately identified Ethereum layer-2<\/a> developer Starknet as leading in terms of monthly active developers, hosting 517 contributors and experiencing 4% growth annually.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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