New York, Saturday, November 02, 20240-Asia has overtaken North America as the top destination for crypto developers, with the region now representing 32% of the global talent pool, a significant increase from 13% last year, according to data from Electric Capital1.
In contrast, the United States’ share has dropped to 18.8%, marking a 51% decline largely attributed to regulatory challenges.
The Electric Capital report reveals that, despite declining numbers, the US remains the single largest home for crypto developers, followed by India at 11.8% and the UK at 4.2%.
Notably, around 64% of US developers are based outside major tech centers like California and New York, which experts view as a positive trend for regional economic diversification.
Electric Capital’s findings are based on extensive analysis of more than 200 million Git commits, drawn from 350,000 crypto-related repositories, and account for the 366,000 developers active since 2009.
The report highlights Ethereum’s dominant role, with 16,000 new developers joining its ecosystem in 2023, while platforms such as Polygon continue to attract interest.
Bitcoin, by comparison, ranks lower in developer engagement, sharing its position with networks like Internet Computer and Optimism.
Industry experts are cautiously optimistic about future Web3 developer growth. Noëlle Becker Moreno, Edge & Node CMO, noted that Web3’s complexity remains a barrier for new entrants.
However, she highlighted that maturing frameworks and mentoring initiatives could eventually boost talent development, ensuring sustained progress in Web3.
