Blockchain Developers’ Weekly Activity Drops Over 26% In Last 3 Months

The latest data shows that the number of weekly active developers has dropped by more than 26% over the past three months amid a prolonged market slump.

According to Blockchain data aggregator Artemis, the top four smart contract platforms – Ethereum, Polkadot, Solana, and Cosmos have experienced an even higher drop, down 30.5%, 43.6%, 48.4%, and 48.9% respectively in developer activity over the past three months.

The Interplanetary File System (IPFS) decentralized data storage protocol and Internet Computer blockchain network are among the few leading smart contract platforms that have grown during this period, with an increase of 206.6% and 21.7% respectively.

Blockchain developers are primarily responsible for designing blockchain architecture, maintaining and upgrading the infrastructure, and building smart contracts that power decentralized applications.

Blockchain developer activity is considered to be one of the most important metrics for the success of a smart contract platform, as a platform that lacks developers is likely to struggle to thrive.

Cryptocurrency researcher and founder of Tascha Labs, Tascha Che says that she doesn’t believe the trend is cause for concern:

The drop in developer activity follows the crypto market slump from April to mid-June, which saw the entire crypto market cap fall from $2.1 trillion to $890 billion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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