Solana Is the Fastest Growing Blockchain Platform for New Crypto Developers
Date: 2024-12-13 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The study found that of the 39,148 new developers this year, 7,625 chose Solana as their first blockchain platform. By comparison, Ethereum attracted 6,456 new developers, while other blockchains attracted 3,383. This is impressive growth that has been ongoing for several years in a row.
“In July 2024, Solana became the first ecosystem to attract more developers than Ethereum for the first time since 2016,” the report said.
On the global stage, Solana maintains its position as the second-largest ecosystem on every continent. In Asia, the blockchain has almost caught up with Ethereum, accounting for more than 20% of new adoptions for the year.
Ethereum, however, remains the leader in terms of monthly active developers across all regions. Its dominance is particularly noticeable in the Americas and Europe, where the adoption rate exceeds 25% monthly.
Solana also stands out for its low transaction costs, especially in the NFT space. This ecosystem accounts for 64% of all NFT issuance. In the decentralized exchange (DEX) segment, Solana holds 81% of transactions and leads in the number of unique trading wallets.
The Asian market has been a key driver of Solana's growth. India stands out in particular, where the number of new developers has increased significantly, overtaking Ethereum and Base (BASE). India now accounts for 17% of the share of new developers, while the US has seen a 3% decline.
China, Canada, and Nigeria have also shown growth in the number of developers, although these figures have not yet reached significant values.
Ethereum, despite Solana's success, maintains its leadership in such large countries as the US, UK, China, and Canada.
