Solana is considered the fastest growing blockchain in terms of new crypto developers, with double-digit growth in a single year.
Solana (SOL) is the number one blockchain for new crypto developers, with annual growth of up to 83%, surpassing the world’s largest blockchain, Ethereum (ETH), according to Electric Capital’s December 12 report. .
The report reveals that this year, 7,625 of 39,148 new developers were using Solana as their first blockchain. This number surpassed Ethereum with 6,456 new developers and other blockchains with 3,383. This trend has been increasing every year for several years.
“July 2024: Solana becomes the first ecosystem to onboard more developers than Ethereum since 2016,” the report said.
This emerging blockchain remains the second largest ecosystem on all continents. In the Asia region, Solana almost toppled Ethereum, with over 20% adoptions this year.
Ethereum, at the same time, continues to exist as a leading ecosystem with the highest number of monthly active developers across all continents. Ethereum was dominant in the Americas and Europe regions, with over 25% adoptions each month.
Along with Base, this blockchain also records the lowest fee use case for NFTs and also owns 64% of NFT mint transactions. When using DEX, they also captured 81% of transactions and have the highest number of unique trading wallets among others.
Solana is the first ecosystem in India
In the report, India recorded a massive number of new developers for this ecosystem and flipped Ethereum and Base (BASE). This figure shows how Asian countries constitute the emerging market for Solana.
The share of new promoters in India also jumped to 17% in the first period, followed by that of the United States with a decline of 3%. China, Canada and Nigeria saw growth, but not significant numbers.
Ethereum remains dominant in many other major countries, including the United States, United Kingdom, China, and Canada.
