The State of Blockchain Developer Adoption in 2022

Jan 13

Blockchain technology has come a long way since its inception in 2008. Today, blockchain technology is being used in a variety of industries, from finance to healthcare to supply chain management. One of the key factors driving the growth of blockchain technology is the adoption of developers.

In this blog post, we will discuss the adoption of developers both Web3 and Web2 to blockchain, the top 10 most popular blockchains, why developers are choosing to adopt these blockchains, what key elements Web3 developers look for before choosing a blockchain to build on, and how the availability of some grant programs have helped.

Adoption of Developers to Blockchain: The number of developers building on blockchain technology has been steadily increasing over the past few years. According to a report by Electric Capital, the number of developers working on blockchain projects has increased by 15% since 2021, reaching a total of 50,000 developers worldwide. This growth can be attributed to the increasing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs).

Top 10 Most Popular Blockchains:

Ethereum is the most popular blockchain for developers, with over 300,000 developers working on the platform. Ethereum has a large and active community, which has contributed to its popularity. Ethereum is also known for its smart contract capabilities, which enable developers to build decentralized applications (dApps) on top of the blockchain.
Solana is a high-performance blockchain that has gained popularity due to its fast transaction speed and low transaction fees. Solana has attracted over 10,000 developers, making it one of the fastest-growing blockchains in terms of developer adoption.
Binance Smart Chain (BSC) is a popular blockchain among developers due to its low transaction fees and interoperability with other blockchains. Binance Smart Chain has over 4,000 developers building on the platform.
Polygon is a layer 2 scaling solution for Ethereum that has gained popularity due to its low transaction fees and fast transaction speed. Polygon has over 3,000 developers building on the platform.
Cardano is a third-generation blockchain that has gained popularity due to its scalability and low transaction fees. Cardano has over 2,500 developers building on the platform.
Polkadot is a blockchain platform that enables interoperability between different blockchains. Polkadot has over 2,000 developers building on the platform.
Avalanche is a high-performance blockchain that has gained popularity due to its fast transaction speed and low transaction fees. Avalanche has over 1,500 developers building on the platform.
Cosmos is a blockchain platform that enables interoperability between different blockchains. Cosmos has over 1,000 developers building on the platform.
Terra is a blockchain platform that focuses on stablecoins and DeFi applications. Terra has over 500 developers building on the platform.
Algorand is a blockchain platform that focuses on scalability and security. Algorand has over 300 developers building on the platform.

Why Developers are Choosing to Adopt These Blockchains: Developers are choosing to adopt these blockchains because they offer a variety of benefits, such as scalability, low transaction fees, and interoperability with other blockchains. For example, Solana is known for its fast transaction speed, while Binance Smart Chain is popular for its low transaction fees.

Key Elements Web3 Developers Look for Before Choosing a Blockchain to Build On:

Security: Web3 developers prioritize security when selecting a blockchain to build on. They look for blockchains that have a strong and reliable security protocol to ensure that their applications and users are safe from hacks and attacks.
Scalability: Another important factor that developers consider is scalability. They want to build on a blockchain that can handle a large number of transactions without compromising speed and performance.
Interoperability: Web3 developers also look for blockchains that can easily integrate with other systems and platforms. They want to build applications that can interact with other blockchains and legacy systems seamlessly.
Community: The size and engagement of the developer community surrounding a blockchain is also an important consideration for Web3 developers. They look for a community that is active, supportive, and constantly working on improving the blockchain.
Governance: Developers also look for blockchains that have a transparent and decentralized governance structure. They want to build on a blockchain that is controlled by a diverse set of stakeholders, rather than a centralized entity.
Documentation: Web3 developers also consider the quality and availability of documentation when choosing a blockchain. They want to work with a blockchain that has clear and comprehensive documentation, making it easier to build and deploy applications.
Adoption: Finally, Web3 developers consider the level of adoption of a blockchain. They want to build on a blockchain that has a large and growing user base, making it easier to reach a wider audience and gain traction.
Ecosystem: The larger the blockchain ecosystem, the better, as often developers are building dApps and other applications that can be linked to other Web3 use-cases to help grow their functionality, effectiveness and adoption.

Overall, Web3 developers look for blockchains that are secure, scalable, interoperable, have a strong community, transparent governance, good documentation, and high adoption. By considering these key elements, developers can choose a blockchain that is well-suited for their specific needs and requirements. For example, a Web3 gaming application may need speed and throughput as the most important element, while a Web3 reale state application may care more about secure transactions as the biggest priority.

Grant programs and incentives for developers

Another key factor driving blockchain developer adoption is the availability of grant programs and incentives. Many blockchain networks offer grant programs to encourage developers to build on their platforms. These programs can provide funding, mentorship, and other resources to help developers bring their projects to life.

For example, Solana's Solana Season program offers $5 million in grants and prizes to developers building on the Solana blockchain. Similarly, the Ethereum Foundation provides grants to support projects that contribute to the Ethereum ecosystem. These grant programs can help developers cover the costs of development and testing, as well as provide guidance and support to help them bring their projects to market.

Conclusion

In conclusion, the blockchain industry is seeing strong growth in developer adoption, with both Web3 and Web2 developers increasingly interested in building on blockchain networks. Ethereum remains the most popular blockchain for developers, but other networks like Solana, Binance Smart Chain, and Polygon are gaining traction as well. Developers are drawn to these networks for their speed, scalability, and developer-friendly features.

Looking ahead, it's clear that blockchain technology will continue to attract more developers as the industry evolves and matures. With new blockchain networks launching all the time and existing networks continuing to improve, developers will have more opportunities than ever before to build innovative decentralized applications and services.

We hope this article has provided useful insights into the state of blockchain developer adoption in 2023. As always, we recommend doing your own research and due diligence before making any investment or development decisions.

Sources: Electric Capital report on blockchain developers: https://www.developerreport.com/developer-report