Solana’s Developer Network Displays Continual Progress
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Solana asserts itself as the second-largest ecosystem by monthly active developers.
In 2023, Solana’s native SOL token emerged as one of the top-performing crypto assets. Simultaneously, the Layer 1 network’s developer ecosystem exhibited steady growth.
Notably, developer retention in the Solana ecosystem surged from 31% to over 50% within three months.
This enhanced retention was attributed to factors such as improved developer onboarding, the increasing popularity of the Solana blockchain, and expanding opportunities within the ecosystem.
Developer Retention Surges in the Solana Ecosystem
In a recent report, the Solana Foundation disclosed that the evaluation of retention rates specifically focused on developers consistently committing over three consecutive months.
Additionally, every six months, 400-500 Solana developers, who completed various boot camps, joined the ecosystem, resulting in an impressive 500% growth in job listings over the year.GitHub data indicates that the enhanced retention rate led to a consistent monthly active developer count, ranging between 2,500 and 3,000 within the Solana ecosystem throughout 2023.
The foundation attributed this positive trend to advancements in tooling for various programming languages and the introduction of additional educational resources.However, they also acknowledged potential areas for improvement, particularly in testing and debugging.
Despite its relative newness, with the Solana mainnet beta launching in March 2020, the report asserts that the Solana ecosystem has swiftly grown to secure the position of the second-largest in terms of total monthly active developers.
Growing Popularity
Solana faced challenges early in the year, linked to the FTX collapse, causing a significant decline in the SOL token’s value. Despite this setback, the asset experienced remarkable growth of over 800% in the past year, securing its position as the fifth-largest crypto asset by market cap.
The Solana ecosystem exhibited a noteworthy recovery in the latter months of 2023. Investment products tied to Solana demonstrated strong performance, attracting net inflows of $167 million, surpassing Ethereum, which trailed with a comparatively modest $78 million.
In December, Google searches for Solana outpaced those for Ethereum, with the highest popularity observed in Spain and the Philippines.
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