New developers are pouring into Web 3.0 and have locked up $ 100 billion

2021 is the year that new developers flock to Web 3.0 and the number of commits per project skyrocket.

one report The latest report from Electric Capital Developer shows that more and more developers are moving into the field of decentralized technology. The 2021 report shows that $ 100 billion worth of smart contracts are locked in Web.3.0 project platforms.

The report aggregated data from around 500,000 crypto projects on Github with 160 million commits. It describes Web 3.0 as the fastest growing niche in decentralized space and claims that the demand for developers is higher than ever.

Monthly active developer on Web3. Source: Medium

Information available through research shows that 18,000 developers are actively making monthly commitments for open source crypto-related Web 3.0 projects in 2021. Interestingly, 34,000 new developers joined in the same year. This is a new record as shown in the graphic above.

In addition, the participation of developers in Web 3.0 projects increased by 65%, which also shows the attractiveness of this field in 2021.

Some of the most notable projects that have seen large amounts of commits due to the growing interest from developers are Bitcoin and Ethereum. Other projects with notable developer involvement are Polkadot, Solana, Cardano, Cosmos, BSC with over 250 developers working monthly on the code base of each project.

The concept of Web 3.0, or the decentralized Internet, has attracted developers since decentralized technology became mainstream. However, very few projects like Polkadot can actually create channels through the interoperability of blockchain networks.

This has shown the practicability and inherent possibilities of the concept, despite the skepticism of critics like Elon Musk, who considers the prospect of a decentralized internet to be a marketing buzzword.

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