As a researcher who has spent years immersed in the dynamic world of blockchain and cryptocurrency, I find the recent trend of the U.S.’s declining share of crypto developers deeply concerning. Having witnessed firsthand the transformative power of this technology, it’s disheartening to see our nation potentially ceding its leadership position.
As the number of U.S.-based crypto developers decreases, there’s a risk that America could lose its dominance in the rapidly evolving cryptocurrency marketplace.
The number of cryptocurrency developers based in the United States is decreasing, causing worry about the country’s dominance in the blockchain sector. According to data from Maria Shen, a general partner at a blockchain venture firm named Electric Capital, the U.S. currently accounts for just 18.8% of worldwide crypto developers.
The proportion of developers working in the U.S. on cryptocurrency projects has decreased by 51%, implying that the nation might be relinquishing its competitive advantage. Shen suggests this change is due to a complex regulatory landscape, emphasizing the need for clear and consistent crypto policies to keep the U.S. at the forefront.
Although many countries are moving into cryptocurrency development, the United States still leads with 18.8% of all crypto developers. India and the UK come in second and third place at 11.8% and 4.2%, respectively. Interestingly, it was found that more than two-thirds (64%) of U.S.-based developers reside outside of California and New York, as Shen refers to this as a “chance for policymakers to create jobs and wealth in other regions.
As an analyst, I’ve been tracking the dynamics of the cryptocurrency development landscape, and here’s what I’ve observed: By January this year, Electric Capital reported a significant decrease in the total count of crypto developers, marking a 24% drop compared to previous years. Moreover, the influx of newcomers has seen a steep decline, with over 50% less individuals joining the field.
In terms of particular ecosystems, Ethereum has been the leading platform this year, welcoming approximately 16,000 new developers who have been actively coding. Additionally, platforms like Polygon have also garnered attention. Interestingly, Bitcoin found itself in a tie for the 13th position on the list, sharing it with Internet Computer, Optimism, and BNB Chain.
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2024-10-31 13:08