Since 2022, Solana has seen a notable drop in its core developers, while Ethereum's numbers have been steadily climbing. Even though Solana's price has experienced solid growth during this time, the decline in its core developer community is certainly something worth investigating further. A strong and engaged developer community is essential for keeping the ecosystem healthy, innovative, and thriving in the competitive landscape of crypto.
Core developers and TVL on Solana
Source: Defilama
Core developers and TVL on ETH
Source: Defilama
Market Performance of Solana
Source: crypto investment calculator
Market Performance of Smart Contract Industry
Source: crypto portfolio calculator
Solana's Core Developer Decline vs Growth: What’s Really Happening?
byu/Mr_Hodlerr inCryptoCurrency
2 Comments
Possibly related to Solana’s history of faking of dev numbers and artificially inflating their TVL. Have a read of this article if you haven’t already, it’s a totally bonkers story:
https://www.coindesk.com/layer2/2022/08/04/master-of-anons-how-a-crypto-developer-faked-a-defi-ecosystem
Worth noting that this wasn’t the first or last scandal around Solana’s misleading metrics…
https://medium.com/cyber-capital/a-solana-critique-lies-fraud-dangerous-trade-offs-76885dbe1ea0
And that article is still only part of the story, there are more examples from this year, such as…
stablecoin transfers:
https://cointelegraph.com/magazine/defi-bots-pumping-solana-stablecoin-volume/
and onchain trading volume:
https://cointelegraph.com/news/bots-pushing-solana-over-ethereum-research
Good analysis!
That said, I am curious how SOLANA is still running. And I am impressed that it is not going down as often as last year. More developers or not.