We fingerprinted 27,000+ code repositories and 22 million code commits to create this H1 2019 Developer Report.
Developers are a leading indicator for where value will be created and accrue in crypto.
This report focuses on developer activity from June 2018 to June 2019.
Published by Electric Capital.
electriccapital.com
Developer Report (Published: December 2020, Updated: April 2021)Maria Xinhe Shen
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted 20,000+ code repos and 16M commits to create a Dev Report on where crypto developers are focused. Developers are a leading indicator for where value will be created and accrue in crypto.
This report focuses on developer activity from Jan, 2018 to Feb, 2019.
Published by Electric Capital.
electriccapital.com
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
Electric Capital Developer Report (Published: December 2020)Maria Xinhe Shen
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Originally published January 5, 2022. Updated January 26, 2022 to issue a correction.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
Developer Report (Published: December 2020, Updated: April 2021)Maria Xinhe Shen
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted 20,000+ code repos and 16M commits to create a Dev Report on where crypto developers are focused. Developers are a leading indicator for where value will be created and accrue in crypto.
This report focuses on developer activity from Jan, 2018 to Feb, 2019.
Published by Electric Capital.
electriccapital.com
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
Electric Capital Developer Report (Published: December 2020)Maria Xinhe Shen
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted 276,000+ code repositories and 89 million code commits to create this 2020 Developer Report.
The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Originally published January 5, 2022. Updated January 26, 2022 to issue a correction.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
Energy Tokens Pitch Deck - Creating Energy Asset Liquidity Through Blockchain...Alastair Caithness
ENERGY TOKENS is a complete solution trading platform using Blockchain enabled technology to acquire, hold and transfer direct interests in energy producing assets, including oil/gas and solar/wind.
The way energy assets have been acquired, held and transferred has not changed for over 100-years.
The Energy Tokens platform has been developed to address inherent problems facing the energy industry.
Problems with Energy Producing Assets:
* Difficult to sell/buy fractional interests:
* Direct investments are made through private negotiated transactions
* Non-industry investors have limited access to these investments
* Limited liquidity opportunities by holders of non-controlling interests prior to sale of entire asset
* Legal conveyance mechanism is antiquated through filings in local land registries
Our Solution;
* Permissioned Blockchain Data Analysis Artificial Intelligence Liquidity for Investors
* Democratizing energy investment opportunities
* Creating liquidity for illiquid energy investments
* Facilitating better access to capital for energy development projects
Our Target Market
* By 2030, US capital investment in renewable energy is expected to exceed $500 billion
* There are approximately 1,000,000 oil wells operating in the United States and over 9,000 independent oil and natural gas producers
Visit https://www.energytokens.io for daily news updates
Contact Us to get a copy of the Business Plan and White Paper
Managing your black Friday logs - CloudConf.ITDavid Pilato
Monitoring an entire application is not a simple task, but with the right tools it is not a hard task either. However, events like Black Friday can push your application to the limit, and even cause crashes. As the system is stressed, it generates a lot more logs, which may crash the monitoring system as well. In this talk I will walk through the best practices when using the Elastic Stack to centralize and monitor your logs. I will also share some tricks to help you with the huge increase of traffic typical in Black Fridays.
Blockchain-Powered Businesses: Company presentation by Marjorie Hernandez de Vogelsteller, LUKSO at the NOAH Conference Berlin 2019, 13-14 June, STATION.
Bridging the Gap Between Real Time/Offline and AI/ML Capabilities in Modern S...Amazon Web Services
Building real-time collaboration applications can be difficult, and adding intelligence to an app to make it stand out remains a challenge. In this session, learn how to build real-time chat serverless apps infused with AWS machine learning (ML) services. We dive into enhancing a real-time chat application with search capabilities, chatroom bots providing automated responses , and on-demand message translation using Amazon AI/ML services.
Predictions: Worldwide IT Spending to Reach $4 Trillion in 2021
CIOs are the future?!
NFTs...not so much
Poor Data Quality Could Cost You...$12.8M a year
7 Lessons on how tech transformations can deliver value
92% of VCs consider themselves to be value add investors. MOST venture-backed #entrepreneurs disagree
Presentation by Hong Fang, CEO of Okcoin, at the Adopting Bitcoin conference in El Salvador on November 17, 2021.
Sats Mode: https://www.okcoin.com/sats
I am Satoshi: https://www.youtube.com/watch?v=FW0dDM7TRQE&list=PLVgqfXWHjicsieb5W4kthZaCHwWx_20Ud&index=2
The Violet Society is a peer mentorship community for wildly ambitious female & non-binary people in technology.
This was our first Product Management Fellowship program showcase, hosted at LinkedIn San Francisco. 10 talented early-to-mid-career women spent 10 weeks learning from one another and from generous mentors in a hands-on and structured program. They shared what they learning in 5-minute lightning talks at the end of the event, as shown here.
We're so excited and honored to show off our amazing fellows! Learn more about us at https://www.thevioletsociety.com/
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
Business Analysis: Challenges and Opportunities in 2015 (Denys Gobov Product ...IT Arena
Lviv IT Arena is a conference specially designed for programmers, designers, developers, top managers, inverstors, entrepreneur and startuppers. Annually it takes place on 2-4 of October in Lviv at the Arena Lviv stadium. In 2015 conference gathered more than 1400 participants and over 100 speakers from companies like Facebook. FitBit, Mail.ru, HP, Epson and IBM. More details about conference at itarene.lviv.ua.
State of Blockchains 2019: Green shoots of adoption emerge from 2018 crypto c...Outlier Ventures
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the 2018 Q4 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report highlighted multiple key trends including increasing user adoption and data showing the decline in ETH price isn’t due to ICO sellers
Energy Tokens Pitch Deck - Creating Energy Asset Liquidity Through Blockchain...Alastair Caithness
ENERGY TOKENS is a complete solution trading platform using Blockchain enabled technology to acquire, hold and transfer direct interests in energy producing assets, including oil/gas and solar/wind.
The way energy assets have been acquired, held and transferred has not changed for over 100-years.
The Energy Tokens platform has been developed to address inherent problems facing the energy industry.
Problems with Energy Producing Assets:
* Difficult to sell/buy fractional interests:
* Direct investments are made through private negotiated transactions
* Non-industry investors have limited access to these investments
* Limited liquidity opportunities by holders of non-controlling interests prior to sale of entire asset
* Legal conveyance mechanism is antiquated through filings in local land registries
Our Solution;
* Permissioned Blockchain Data Analysis Artificial Intelligence Liquidity for Investors
* Democratizing energy investment opportunities
* Creating liquidity for illiquid energy investments
* Facilitating better access to capital for energy development projects
Our Target Market
* By 2030, US capital investment in renewable energy is expected to exceed $500 billion
* There are approximately 1,000,000 oil wells operating in the United States and over 9,000 independent oil and natural gas producers
Visit https://www.energytokens.io for daily news updates
Contact Us to get a copy of the Business Plan and White Paper
Managing your black Friday logs - CloudConf.ITDavid Pilato
Monitoring an entire application is not a simple task, but with the right tools it is not a hard task either. However, events like Black Friday can push your application to the limit, and even cause crashes. As the system is stressed, it generates a lot more logs, which may crash the monitoring system as well. In this talk I will walk through the best practices when using the Elastic Stack to centralize and monitor your logs. I will also share some tricks to help you with the huge increase of traffic typical in Black Fridays.
Blockchain-Powered Businesses: Company presentation by Marjorie Hernandez de Vogelsteller, LUKSO at the NOAH Conference Berlin 2019, 13-14 June, STATION.
Bridging the Gap Between Real Time/Offline and AI/ML Capabilities in Modern S...Amazon Web Services
Building real-time collaboration applications can be difficult, and adding intelligence to an app to make it stand out remains a challenge. In this session, learn how to build real-time chat serverless apps infused with AWS machine learning (ML) services. We dive into enhancing a real-time chat application with search capabilities, chatroom bots providing automated responses , and on-demand message translation using Amazon AI/ML services.
Predictions: Worldwide IT Spending to Reach $4 Trillion in 2021
CIOs are the future?!
NFTs...not so much
Poor Data Quality Could Cost You...$12.8M a year
7 Lessons on how tech transformations can deliver value
92% of VCs consider themselves to be value add investors. MOST venture-backed #entrepreneurs disagree
Presentation by Hong Fang, CEO of Okcoin, at the Adopting Bitcoin conference in El Salvador on November 17, 2021.
Sats Mode: https://www.okcoin.com/sats
I am Satoshi: https://www.youtube.com/watch?v=FW0dDM7TRQE&list=PLVgqfXWHjicsieb5W4kthZaCHwWx_20Ud&index=2
The Violet Society is a peer mentorship community for wildly ambitious female & non-binary people in technology.
This was our first Product Management Fellowship program showcase, hosted at LinkedIn San Francisco. 10 talented early-to-mid-career women spent 10 weeks learning from one another and from generous mentors in a hands-on and structured program. They shared what they learning in 5-minute lightning talks at the end of the event, as shown here.
We're so excited and honored to show off our amazing fellows! Learn more about us at https://www.thevioletsociety.com/
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.
Created by Electric Capital
https://www.electriccapital.com
Business Analysis: Challenges and Opportunities in 2015 (Denys Gobov Product ...IT Arena
Lviv IT Arena is a conference specially designed for programmers, designers, developers, top managers, inverstors, entrepreneur and startuppers. Annually it takes place on 2-4 of October in Lviv at the Arena Lviv stadium. In 2015 conference gathered more than 1400 participants and over 100 speakers from companies like Facebook. FitBit, Mail.ru, HP, Epson and IBM. More details about conference at itarene.lviv.ua.
State of Blockchains 2019: Green shoots of adoption emerge from 2018 crypto c...Outlier Ventures
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the 2018 Q4 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report highlighted multiple key trends including increasing user adoption and data showing the decline in ETH price isn’t due to ICO sellers
Venture Capital and Crypto: The Equity Side | Raffaele Mauro | Blockchain ConfCodemotion
This presentation analyzes venture funding and the startup ecosystem around Bitcoin, cryptocurrencies and crypto tech / blockchan. The focus is not about speculative currrency / token token trading but on teams, companies and the equity side of investing. Beyond hype, looking at fundamentals.
CoinGecko 2018 Full Year Cryptocurrency ReportCoinGecko
This is the sixth cryptocurrency report produced by CoinGecko covering the full year of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market capitalization growth, volume change, and price movement
- Cryptocurrency exchange ranking, volume & dominance
- Initial Coin Offerings (ICOs) trends
- Stablecoins trends
- Timeline of major events & regulatory updates
- Bitcoin Cash split
- Decentralized applications (dapps) trends
- Security Tokens insights
- Masternodes insights
- Non-Fungible Tokens trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-report
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
Visit Messari.io and follow @MessariCrypto on Twitter for more
Messari brings transparency to the cryptoeconomy. We want to help investors, regulators, and the public make sense of this revolutionary new asset class, and are building data tools that will drive informed decision making and investment. We believe that crypto will democratize access to information, break down data silos, and ultimately give everyone the tools to build wealth.
ZeroX is an innovative platform that revolutionizes the way users interact with decentralized exchanges (DEX). With our advanced AI trading bot and user-friendly interface, we provide seamless and efficient trading experiences. Our platform offers a wide range of features, including monitoring of projects in the launchpad phase, tracking new token listings, analyzing project activity, conducting smart contract audits, analyzing top holders, and auditing transactions. We empower users with transparent tools to track their progress, set stop-loss and take-profit levels, and make informed trading decisions. With our strong focus on security, we ensure the safety of user funds and provide a convenient withdrawal process. Join ZeroX and explore the world of decentralized trading with ease and confidence.
Tracxn - Monthly Report - Japan Tech - Sep 2021Tracxn
Check out @Tracxn's latest #GeoMonthlyReport on #Tech rebrand.ly/zmwls68
For more #free #Monthly #StartupReports on geography of your interest, subscribe here: https://rb.gy/3yuosu
Techniques to optimize the pagerank algorithm usually fall in two categories. One is to try reducing the work per iteration, and the other is to try reducing the number of iterations. These goals are often at odds with one another. Skipping computation on vertices which have already converged has the potential to save iteration time. Skipping in-identical vertices, with the same in-links, helps reduce duplicate computations and thus could help reduce iteration time. Road networks often have chains which can be short-circuited before pagerank computation to improve performance. Final ranks of chain nodes can be easily calculated. This could reduce both the iteration time, and the number of iterations. If a graph has no dangling nodes, pagerank of each strongly connected component can be computed in topological order. This could help reduce the iteration time, no. of iterations, and also enable multi-iteration concurrency in pagerank computation. The combination of all of the above methods is the STICD algorithm. [sticd] For dynamic graphs, unchanged components whose ranks are unaffected can be skipped altogether.
06-04-2024 - NYC Tech Week - Discussion on Vector Databases, Unstructured Data and AI
Discussion on Vector Databases, Unstructured Data and AI
https://www.meetup.com/unstructured-data-meetup-new-york/
This meetup is for people working in unstructured data. Speakers will come present about related topics such as vector databases, LLMs, and managing data at scale. The intended audience of this group includes roles like machine learning engineers, data scientists, data engineers, software engineers, and PMs.This meetup was formerly Milvus Meetup, and is sponsored by Zilliz maintainers of Milvus.
Adjusting OpenMP PageRank : SHORT REPORT / NOTESSubhajit Sahu
For massive graphs that fit in RAM, but not in GPU memory, it is possible to take
advantage of a shared memory system with multiple CPUs, each with multiple cores, to
accelerate pagerank computation. If the NUMA architecture of the system is properly taken
into account with good vertex partitioning, the speedup can be significant. To take steps in
this direction, experiments are conducted to implement pagerank in OpenMP using two
different approaches, uniform and hybrid. The uniform approach runs all primitives required
for pagerank in OpenMP mode (with multiple threads). On the other hand, the hybrid
approach runs certain primitives in sequential mode (i.e., sumAt, multiply).
Data Centers - Striving Within A Narrow Range - Research Report - MCG - May 2...pchutichetpong
M Capital Group (“MCG”) expects to see demand and the changing evolution of supply, facilitated through institutional investment rotation out of offices and into work from home (“WFH”), while the ever-expanding need for data storage as global internet usage expands, with experts predicting 5.3 billion users by 2023. These market factors will be underpinned by technological changes, such as progressing cloud services and edge sites, allowing the industry to see strong expected annual growth of 13% over the next 4 years.
Whilst competitive headwinds remain, represented through the recent second bankruptcy filing of Sungard, which blames “COVID-19 and other macroeconomic trends including delayed customer spending decisions, insourcing and reductions in IT spending, energy inflation and reduction in demand for certain services”, the industry has seen key adjustments, where MCG believes that engineering cost management and technological innovation will be paramount to success.
MCG reports that the more favorable market conditions expected over the next few years, helped by the winding down of pandemic restrictions and a hybrid working environment will be driving market momentum forward. The continuous injection of capital by alternative investment firms, as well as the growing infrastructural investment from cloud service providers and social media companies, whose revenues are expected to grow over 3.6x larger by value in 2026, will likely help propel center provision and innovation. These factors paint a promising picture for the industry players that offset rising input costs and adapt to new technologies.
According to M Capital Group: “Specifically, the long-term cost-saving opportunities available from the rise of remote managing will likely aid value growth for the industry. Through margin optimization and further availability of capital for reinvestment, strong players will maintain their competitive foothold, while weaker players exit the market to balance supply and demand.”
2. The Developer Report is built on proprietary data from Electric Capital
Electric Capital is a digital asset management firm. We invest in programmable money and blockchain
applications based on innovative technology, market adoption, and real use cases. We compile code, do security
audits, run nodes to programmatically inspect the blockchain, have market intelligence based on proprietary
software, and more.
electriccapital.com
Follow us on Twitter: @ElectricCapital
Data Pipeline
Curtis Spencer
Twitter: @jubos
Contributor
Avichal Garg
Twitter: @avichal
Contributor
Ken Deeter
Twitter: @puntium
2
Author
Maria Shen
Twitter: @MariaShen
3. Why analyze developer activity?
3
1. Crypto networks are new open platforms on which a new generation of applications will be built.
2. A clear, early signal for an emerging platform is engagement from developers. Developers build
the applications that deliver value to end users and customers, and set off a virtuous cycle attracting
more developers.
3. The base layers of the crypto stack are uniquely open source, allowing us to analyze and understand
developer engagement in an unprecedented way.
4. Electric Capital tracks developer adoption as a leading indicator of where future value will be
created and captured.
4. Electric Capital indexed 27,000+ code repositories
...analyzed 22M commits to find original code authors
...across 3,400+ crypto ecosystems.
The Developer Reports compile findings from our ongoing research.
4
5. Help map the crypto ecosystem
We’ve opened our ecosystem map on GitHub so that anyone can contribute:
1. Submit a pull request in https://github.com/electric-capital/crypto-ecosystems
2. or email info@electriccapital.com
We will use this data for our reports going forward.
For more details on our methodology, consult our appendix.
5
6. Executive Summary
1. Despite market downturns in 2018, Full Time developers increased 13% year-over-year in June 2019
and are consolidating around high network value projects.
2. Code commit volume is consistent but total monthly active developers are down 10% Y/Y.
3. 80% of developer loss came from One Time per month and Part Time developers.
4. The biggest developer drop-off came from projects outside of the Top 100 by network value.
5. Smart Contracts, Infrastructure, and DeFi ecosystems continue to gain Full Time developers.
6. Overall crypto ecosystems are approaching the size of well known open source projects such as Apache,
but still has plenty of space to grow.
6
9. But at first glance, open source crypto developers appear to be down...
9
June 2018: 7,671 monthly developers
Today: 6,842 monthly developers
10. Why does developer count appear to be down?
Let’s segment by:
1. Frequency of Contribution
2. Top 100 Projects by Network Value
3. Project Category
10
11. Part 1
Type of Developer (Full Time, Part Time, One Time)
11
14. Let’s bucket developers into One Time per month, Part Time, and Full Time
14
Part Time Full Time
1x/month
15. Most developers contribute infrequently and 29% contribute 1x/month
15
Developers contributing only 1 day
January: 2,350
March: 2,364
June: 1,973
16. Almost 50% of developer loss came from these 1x/month contributors
16
Developers who contributed 1 day fell by 377 compared to January 2019
17. Almost 80% of Developer loss came from Part Time or 1x/month Contributors
17
77% of developer loss from devs active fewer than 10 days
18. Full Time developers stayed constant through H1 2019
18
Full Time developers stayed relatively
constant through 2019
Jan 2019: 2,444
Jun 2019: 2,455
20. Full-Time developers increased YoY while infrequent contributors left
20
Full-Time Developers increased by 13% from
June 2018 to June 2019
Part-Time Developers fell 18%
One-Time Developers fell 30%
21. Since Full Time devs contribute the most, overall commit volume is consistent
21
24. Top 100 projects lost 4% of their devs vs. Outside Top 100 lost 19% of devs
24
Outside of Top 100 lost
19% of developers from
June 2018 to June 2019
Top 100 projects
lost 4% of
developers
25. In absolute numbers, Top 100 lost 139 devs vs. Outside Top 100 lost 824 devs
25
Outside Top 100
June, 2018: 4,323
June, 2019: 3,499
“Top 100” ecosystems
June, 2018: 3,675
June, 2019: 3,536
26. A return to normal as ICO projects die? Top 100 have 50% of all developers
26
Number of Top 100 developers have historically been
equal to or more than the number of developers
outside of Top 100
ICO boom drove
developers to long
tail projects. Many
have stopped
committing code.
33. B
B
B
B
B
B
Ethereum ecosystem has ~4x the developers of the next biggest ecosystem
33
Monthly average Ethereum
developers: 1,156
Top 100 ecosystem
Top 10 ecosystem
34. Most ecosystems have < 250 developers
34
Most Top 100 ecosystems
Top 100 ecosystem
Top 10 ecosystem
B
B
B
B
B
B
36. EOS stands out with a high number of ecosystem developers
36
EOS: 224
B
B
B
B
B
Top 100 ecosystem
Top 10 ecosystem
Note: Not all projects in Top 100 are shown. Closed source ecosystems are not shown.
37. Grin has the most developers for ecosystems under $50M
37
Grin: 33 average monthly developers
Top 100 ecosystem
Top 10 ecosystem
B
B
B
B
B
Note: Not all projects in Top 100 are shown. Closed source ecosystems are not shown.
38. B
B
B
B
B
Several ecosystems stand out with 40+ developers
38
EOS, Cardano, Monero, Stellar,
Steem, IOTA, Tezos, Basic
Attention Token, Status, Waves,
Tron, Cosmos, Maker, NEO,
Aeternity, XRP have 40+
developers
B
B
B
B
B
Top 100 ecosystem
Top 10 ecosystem
Note: Not all projects in Top 100 are shown. Closed source ecosystems are not shown.
40. EOS: 224 monthly average
developers in H1 2019
EOS has 224 developers supporting ~5M average daily transaction count
Top 100 ecosystem
Top 10 ecosystem
40
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
41. Tron: 67 monthly average
developers in H1 2019
Tron has 67 developers supporting 2M daily transactions
Top 100 ecosystem
Top 10 ecosystem
41
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
42. XRP: 51
Tron: 67
EOS: 224
EOS, Tron, XRP have 100k+ daily transactions and 40+ developers
42
Top 100 ecosystem
Top 10 ecosystem
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
44. Bitcoin has 310 developers supporting ~$5B USD daily transaction volume
Bitcoin: 310 monthly average
developers in H1 2019
B
B
B
B
B
B
44
Top 100 ecosystem
Top 10 ecosystem
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
45. Bitcoin Cash has 38 developers supporting ~$1B daily transaction volume
Bitcoin Cash: 38 average monthly
developers
45
Top 100 ecosystem
Top 10 ecosystem
B
B
B
B
B
B
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
46. Only three ecosystems > $1B daily transaction volumes
Most ecosystems have <$1B USD daily transaction volumes over H1 2019
B
B
B
B
B
B
46
Top 100 ecosystem
Top 10 ecosystem
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
48. 7 open source ecosystems have > $100M daily transaction volume
EOS, Cardano, XRP,
Bitcoin Cash, Bitcoin SV,
Dogecoin, Litecoin have
>$100M daily transaction
volume
B
B
48
Top 100 ecosystem
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
49. Stellar, Tron, NEO, Maker,
BAT, Tezos, Aeternity,
Waves, and Status have
40+ devs, but under
$100M daily transaction
volume
Stellar, Tron, BAT, Waves, Status, Aeternity have 40+ devs and < $100M volume
49
Top 100 ecosystem
B
B
Transaction Data Source: CoinMetrics
Note: Not all projects in Top 100 are shown. Not all ecosystems have openly
available transaction data or ecosystem may be closed-source.
50. How did ecosystems change over the last year?
To smooth things out, let’s look at average developers...
50
51. Average monthly developers in H1 2019 fell 5% vs H2 2018
51
Jun - Dec 2018: 7,836 average monthly developers
Jan - Jun 2019: 7,407 average monthly developers
52. 52
19 of Top 100 ecosystems averaged 40+ monthly developers
63. Each row (y-axis) is a dev. Each day (x-axis) that dev committed code has a dot
63
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
64. Ethereum has the highest number of Full Time developers
64
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
65. Ethereum and Bitcoin have many Full Time developers committing consistently
65
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
66. Many ecosystems have a dedicated core group of frequently committing devs
66
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
67. Many projects also have long term but infrequent committers
67
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
68. Some projects have many Part Time developers
68
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
69. Most projects have One Time contributors
69
Ethereum Bitcoin EOS Cardano Tron Status Cosmos BAT Steem
Monero Stellar Waves Tezos Aeternity Maker IOTA XRP NEO
70. Ethereum, Bitcoin, EOS have new highly active, Part Time developers joining
70
Ethereum Bitcoin EOS
New Part-Time developers joined as contributors this year
72. Tron token
migration
Sun Network
Testnet
Tron Monero
Grin
Cardano
Shelley testnet
release June 22,
2019
CosmosAeternity
Beryllium Bullet
release
Network upgrade
Token Migration
Phase 0 Grin Launch
Game of Stakes started
72
Game of Stakes ends
Test Nets and Launches drive engagement...
73. Are the trends consistent across all categories,
even outside top 100?
73
78. Of 1,140 ecosystems, 748 had at least 1 sustained developer...
748 ecosystems had 1
“sustained” developer, or 1
consistent developer for 6+
months
78
79. Active Ecosystems: 583 have 2+ developers for at least 6 months
161 (21.5%) ecosystems had 1
sustained developer
587 (78.5%) had 2+ sustained
developers. We call these
“Active Ecosystems”
79
90. 90
As Network Value increases, Developer growth rises at a faster rate (2nd derivative)
Growth multiple of 1 = No growth YoY
When Network Value accelerates,
Developer Growth accelerates a
few months later
91. 91
When Network Value shrinks, Full Time dev growth continues, just more slowly
Growth multiple of 1 = No growth YoY
Full Time developer growth
continues, but at a slower rate
Part Timers and One Timers
decrease Y/Y during bear
markets
92. How do we put crypto and blockchain developers in
context of other ecosystems?
92
93. 93
Crypto and Blockchain compared to other large Open Source ecosystems
1243 monthly active Ethereum developers as of June 2019
1615 contributors to Apache projects in Q1 2019 [1]
1900 Linux Kernel developers[2]
6842 total monthly active crypto developers as of June 2019
… still plenty of room to grow ...
4M+ NodeJS package manager users[3]
6M+ developers target Android [4]
1 - report, 2 - estimated, 3 - 2017 report, 4 - report
94. If the next 4 years of developer growth look like the last 4 years...
94
6.8K Today
70K in March 2023
95. Executive Summary
1. Despite market downturns in 2018, Full Time developers increased 13% year-over-year in June 2019
and are consolidating around high network value projects.
2. Code commit volume is consistent but total monthly active developers are down 10% Y/Y.
3. 80% of developer loss came from One Time per month and Part Time developers.
4. The biggest developer drop-off came from projects outside of the Top 100 by network value.
5. Smart Contracts, Infrastructure, and DeFi ecosystems continue to gain Full Time developers
6. Overall crypto ecosystems are approaching the size of well known open source projects such as Apache,
but still has plenty of space to grow.
95
96. Danny Aranda
@daranda
Alex Bosworth
@alexbosworth
Dan Elitzer
@delitzer
Kincaid O'Neil
@kincaidoneil
Marc-Antoine Ross
@marcantoineross
Yin Wu
@yinyinwu
Thank you to everyone who gave us feedback on early drafts!
Robert Bent
@robbiebent1
Thiago Canellas
@eosriobrazil
Steve Lee
@moneyball
Kevin Owocki
@kevinowocki
Riccardo Spagni
@fluffypony
Linda Xie
@ljxie
Spencer Bogart
@CremeDeLaCrypto
Jill Carlson
@jillruthcarlson
Scott Moore
@notscottmoore
Justin Rice
@StellarOrg
Elizabeth Stark
@starkness
96
98. Protocol Developers
Ecosystem Developers
1. Ecosystem Developers are
working on dapps,
documentation, tooling,
wallets, and anything else
furthering the project.
2. Protocol Developers
include developers working
only on the core protocol.
We’ve expanded the Developer Report to include all types of crypto developers
98
99. For example, how do we break down the Bitcoin ecosystem?
Bitcoin
1. Ecosystem:
○ light clients like Electrum...
○ layer 2 solutions like
Lightning...
○ libraries like libbitcoin...
○ Bitcoin documentation
like Mastering Bitcoin...
○ apps that are built with
Bitcoin…
○ and anything that
advances Bitcoin.
2. Protocol:
○ Bitcoin Core
○ btcsuite/btcd
○ ...and more.
Protocol Developers
Ecosystem Developers
99
100. Ecosystems can live inside other ecosystems
MakerDao
0. Parent Ecosystem:
Ethereum
1. Maker Ecosystem:
○ xDai
○ awesome-makerdao
○ Market-maker-keeper
○ daipay
○ ...and more.
2. Maker Protocol
○ makerdao/sai
○ ...and more.
Protocol
Developers
Ecosystem
Developers
Parent Ecosystem
100
101. Commit Counting Methodology: Not all code commits are created equal.
101
1. Forks: Only new code counts towards developer activity. We omit code and developer activity from
merging changes from the upstream codebase.
2. Fingerprinting: Fingerprinting is a technique used to identify commits originating from upstream projects.
We look at the files and lines changed, the commit message, committer, author and associated dates.
3. Commits from Integrating Open Source Libraries: Integrating common libraries does not count toward
code activity.
4. Branches: We look at commits from all branches (master/development, etc.) and tags. We look beyond
Github's default view, which can be misrepresentative.
5. Limitations: We only look at open source repositories. There are many teams that are not yet open source.
102. How are developers counted?
1. Developers: We count original code authors as developers. This means that a developer who merges a pull
request is not counted as an active developer on the project, but the original authors of the commits are.
2. Full Time developer: contributed code 10+ days out of a month
3. Part Time developer: contributed code 2-9 days out of a month
4. One Time developer: contributed code 1 day out of a month
5. 3-month rolling window: We look at the last 3 months of a developer’s activity to determine their category.
102
103. 103
1. We consider open source repositories only. There are many more developers working on important closed
source projects or ecosystems. Some teams will open source their code later.
2. This methodology undercounts developers in other roles besides original code contribution such as
backporting, testing, release engineering or code review/feedback that aren’t reflected in git repositories.
3. It will require more than just software engineers to build product and reach mainstream adoption.
4. Not all commits are created equal. Some may be routine, mechanical changes, whereas others represent
hours of accumulated research and analysis.
Despite these caveats, we consider the analysis in this report directionally accurate and indicative of the overall
health of the ecosystem.
We are always looking to improve so please share feedback with us at info@electriccapital.com
Caveats
104. Disclaimer
The Content 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 this 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 in any other jurisdiction in which such
solicitation or offer would be unlawful under the securities laws of such jurisdiction.
104