SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ — Electric Capital, a leading venture capital firm that invests in cryptocurrencies, blockchain-based businesses, and fintech companies, today released their 2020 Developer Report. The Electric Capital Developer Report analyzes 276,000+ code repositories and 89 million code commits in order to identify original developer activity across all open source cryptocurrency and blockchain ecosystems.
Among the key findings:
The number of new cryptocurrency and blockchain developers is growing for the first time since 2017. There are now close to 9,000 monthly active cryptocurrency and blockchain developers. See the full report for more charts.
Complete findings from the Developer Report are available here.
Why Analyze Developer Activity?
Crypto networks are new open platforms on which new applications will be built. An early signal of adoption on an emerging platform is engagement from developers. Developers build the applications that deliver value to end users and customers, which attracts more developers. The crypto stack is uniquely open source, allowing us to analyze and understand developer engagement in an unprecedented way.
About Electric Capital
Electric Capital is a venture firm that invests in cryptocurrencies, blockchain based businesses, fintech companies, and marketplaces. We compile code, profile nodes, analyze blockchains and open source projects, help secure cryptonetworks, and write software to help our portfolio companies understand their ecosystems. We publish an annual Developer Report that is the industry standard for understanding the developer ecosystems across cryptonetworks. Electric Capital and its founders have invested in crypto companies such as Anchorage, Bitwise, Celo, Derivadex, Elrond, Mina, Mobilecoin, Oasis, and NEAR.
The Developer Report is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in the report constitutes a solicitation, recommendation, endorsement, or offer by Electric Capital or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Electric Capital has positions in some of the projects mentioned in the report. For a list of past and present investments, please visit electriccapital.com.
SOURCE Electric Capital