{"id":85968,"date":"2023-10-19T16:46:07","date_gmt":"2023-10-19T13:46:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85968"},"modified":"2025-09-13T02:33:29","modified_gmt":"2025-09-12T23:33:29","slug":"experts-report-a-drain-of-developers-from-the-bitcoin-industry","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/experts-report-a-drain-of-developers-from-the-bitcoin-industry\/","title":{"rendered":"Experts report a drain of developers from the Bitcoin industry"},"content":{"rendered":"<p>As of October 1, 2023, there were 19,300 open-source crypto project developers. Over 12 months their number fell by 27%, according to <a href=\\\"https:\/\/www.developerreport.com\/content\/blog\/newsletter-20231018\\\">\u043e\u0442\u0447\u0435\u0442\u0430 <\/a>Electric Capital.<\/p>\n<p>Experts from the company noted that, compared with the preceding bear market level (as of October 1, 2020), the indicator had risen by 66%.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh5.googleusercontent.com\/Tb5rFgX45HYira-joUyQo3sUZrwiyJAfEcJvGy2n7w_QfkIKRRJc1XLvoBzrFR1UMx4VdC6F4h2AzeTqOrQXzRw9yooJLGoLoYWkX2tGs43XrC3hvz-KKTogzAZHL9JAWnDctWCm9BkgEgx0-8iMw98\\\" alt=\\\"Experts note a drain of developers from the Bitcoin industry\\\"\/><figcaption class=\\\"wp-element-caption\\\">Monthly trajectory of active developers. Data: Electric Capital.<\/figcaption><\/figure>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh4.googleusercontent.com\/Xy3SRhpw0MFmRLHpiLTRHKqi0GFJN9AXfLT42Ftm0NbzNjw-29MNO7_MW2r6wrVOyZjDhVZ3LIj1gYAiwQJXM_7X2mIE0TMRPthcDYDklE5q9sEl08lCIHbb-axMmMFHh8zMH-Cw1EdNrpj-H7wYghc\\\" alt=\\\"Experts note a drain of developers from the Bitcoin industry\\\"\/><figcaption class=\\\"wp-element-caption\\\">Changes in the number of developers by category. Data: Electric Capital.<\/figcaption><\/figure>\n<p>Outflow was mainly driven by newcomers who have worked in crypto for less than a year. The number of specialists in this category fell by 58% or 8,300 people. The number of developers in the field for a longer period has increased slightly.<\/p>\n<p>In September, 1,721 new developers entered the crypto space. This figure lags behind the values:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>for June \u2014 by 40%;<\/li>\n<li>for September 2022 \u2014 by 64%;<\/li>\n<li>for November 2021 (the market <span data-descr=\\\"historical maximum\\\" class=\\\"old_tooltip\\\">ATH<\/span>) \u2014 by 67%.<\/li>\n<\/ul>\n<p>According to experts, the dominance of newcomers in the industry is directly related to market cycles.<\/p>\n<p>Six months after Bitcoin reached its peak in December 2017, newly arrived specialists accounted for 70% of all blockchain developers. Seven months after the market peak in November 2021, their share was 60%.<\/p>\n<p>The opposite trend is seen among experienced developers who have worked in the industry for more than a year. Their share is rising amid protracted bear markets. For example, at present (roughly two years since the November 2021 lows) the figure stands at 70%.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh3.googleusercontent.com\/JJdDmhhev7Dy_TW0i5Najdq-57XO5Ap7pdx8I1NYqeYTPBISOSEXVPEx8yh8ScUGlGUrq-WWOXTLcYyiVcesBgj-nbycdhtKU0pbSDcPpqvKXLtO8cTMYlk5Qqmurtef5arvoPolZCvLKUdLultwTf0\\\" alt=\\\"Experts note a drain of developers from the Bitcoin industry\\\"\/><figcaption class=\\\"wp-element-caption\\\">Monthly trajectory of active developers by experience in the crypto industry. Data: Electric Capital.<\/figcaption><\/figure>\n<p>Evaluating the relative contribution of these categories, Electric Capital concludes:<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cDevelopers who remain in crypto write more code, do so on more days and stay in the industry longer than those who left.\u201d<\/p>\n<\/blockquote>\n<p>In conclusion, the experts highlighted several relatively large crypto projects (with at least 70 monthly active developers) that demonstrated a trend toward expanding their staff:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>Aztec Protocol (up 168% year over year to 76 active developers per month);<\/li>\n<li>Celestia (+145% to 81 people);<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/what-are-ripple-and-the-cryptocurrency-xrp\">Ripple<\/a> (+18% to 172 people);<\/li>\n<li>TON (+8% to 126 people);<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/what-is-zksync\">zkSync<\/a> (+6% to 229 people);<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/what-are-starknets-blockchain-and-cryptocurrency\">StarkNet<\/a> (+4% to 517 people).<\/li>\n<\/ul>\n<p>As noted, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a> co-founder Anatoly Yakovenko <a href=\"https:\/\/forklog.com\/en\/news\/solana-chief-cites-reasons-for-developers-leaving-the-united-states\">linked<\/a> the decline in blockchain developers in the United States to regulatory pressure on the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As of October 1, 2023, there were 19,300 open-source crypto developers. Over 12 months their number fell by 27%, according to Electric Capital&#8217;s report.<\/p>\n","protected":false},"author":1,"featured_media":85969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1192,1150,1252],"class_list":["post-85968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-developers","tag-news-plus","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85968"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85968\/revisions"}],"predecessor-version":[{"id":85970,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85968\/revisions\/85970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85969"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}