Study: “Number of People Working on Public Crypto Coins Have Doubled Over the Past 2 Years”


According to latest statistical data released by ElectricCapital — a well known crypto asset management firm— earlier today, the digital asset industry at large has been experiencing an unparalleled amount of growth recently— even though the prices of premier altcoins such as BTC, ETH have continued to struggle.

To start off with, the study shows that the number of developers currently working on public cryptocoins have increased by a factor of 2x since the beginning of 2017. As a result of this, today there are more than 4,000+ developers working within this space contributing their coding services to more than 2.8k crypto offerings.

Additionally, ElectricCapital co-founder Avichal Garg also stated that the total number of monthly active developers working within this space have reduced by around 4% since Jan 2018— despite the market as a whole losing more than 80% of its total value over the course of the aforementioned time-frame.

This basically alludes to the fact that developers who are part of today’s crypto ecosystem have continued to create novel platforms and tech. solutions even though market conditions have not been hospitable for quite some time now.

Other Key Takeaways From the Study:

  • As per Garg’s findings, Bitcoin currently has the 2nd largest team of developers who are continuously working on the flagship currency’s core governance protocol. To be even more specific, we can see that a total of 47 developers work on optimizing BTC’s ecosystem every month.
  • At press time, Ethereum still possesses the largest developer team within the global crypto arena. On an average, a total of 99 unique developers work on Ether’s core protocol every month.
  • Projects such as Dogecoin have now been abandoned completely and other promising ventures such as Litecoin have lost most of their core dev-team members over the past 6-8 months..
  • Lastly, projects such as OmiseGo, Zilliqa have been able to garner more and more attention from the global tech-dev community since last year.

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