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Electric Capital report: Asia's number of crypto developers surpasses North America
2024-10-31 07:57
Odaily News Maria Shen, partner of Electric Capital, released a global crypto developer distribution research report showing that through the analysis of more than 110,000 developer profiles, it was found that North America's leading position in the share of cryptocurrency developers was surpassed by Asia. North America's developer share has dropped sharply, from 44% in 2015 to 24% in 2024. At the same time, Asia's share has climbed from 13% to 32%, becoming the first continent for crypto talent for the first time. By country, the United States ranks first in the world with 18.8%, and India and the United Kingdom rank second and third with 11.8% and 4.2%, respectively. Since 2015, the United States' share of global crypto developers has plummeted by 51%. During the same period, the size of the cryptocurrency market has skyrocketed from US$5 billion to US$2.4 trillion, an increase of nearly 480 times. In addition, although the cryptocurrency industry is generally considered to be concentrated in traditional technology centers such as California and New York, in fact 64% of developers are distributed outside these regions. The study analyzed more than 200,000 crypto-related Git commit records, involving more than 350,000 code repositories. Maria stressed that cryptocurrency development should not be partisan, as developers are spread across states and represent different political backgrounds.