Nov. 14 2024
In today’s edition of the ICP Roundup, we focus on developer activity, a key metric for evaluating the health and potential of any blockchain ecosystem. As a long-term investor, I believe developer activity is critical, as it reflects the sustained growth and innovation within a project. Over the past three and a half years since its genesis, ICP has consistently stood out as one of the most actively developed projects in the crypto space, if not the most developed.
Over the past twelve months, #ICP has demonstrated substantial growth:
Network Activity: Up by 150%
Full-Time Developers: Increased by 30% , as reported by Electric Capital, despite an industry-wide decline of 16% . Among blockchains with over 100 developers, ICP boasts the fastest-growing network.
Think 30% isn’t impressive? Consider this: between 2021 and 2023, full-time developers on ICP surged by 635% . ICP is outpacing other blockchains significantly in terms of developer activity!
Let’s start by comparing overall developer growth, focusing on ecosystems with 200 to 5,000 developers, and examining their progress between Q4 2022 and Q4 2023.
Source: electriccapital
Despite the fact that on average Ecosystems lost 23% of their developers, ICP stands out as the most actively developed project in the crypto space during the specified timeline.
Next, let’s continue by comparing full-time developer growth, focusing on ecosystems with 50 to 5,000 developers and analyzing their progress from Q4 2022 to Q4 2023.
Source: electriccapital
Ecosystems experienced a 15% reduction in their full-time developers over the aforementioned timeline, whereas, by comparison, ICP saw a more modest decline of 9%.
Now, let’s continue by comparing single-chain developer growth, focusing on ecosystems with 50 to 5,000 developers and analyzing their progress from Q4 2022 to Q4 2023.
Source: electriccapital
Based on this metric, ICP stands out as the most developed project in the crypto space. While ecosystems, on average, experienced a 27% decrease in their single-chain developers, ICP demonstrated remarkable growth with a 64% increase.
Let us now shift our focus to long-term growth by analyzing and comparing developer activity between Q1 2020 and Q4 2023. Lets start with the Overall time developer growth (50-5000 developers) for Q4 2023 VS Q1 2020:
Source: electriccapital
Despite ecosystems gaining an average of 278% in their developer count, ICP experienced an extraordinary surge, growing by 1,100%.
Next, let’s continue by comparing full-time developer growth, focusing on ecosystems with 50 to 5,000 developers and analyzing their progress from Q1 2020 to Q4 2023.
Source: electriccapital
Ecosystems saw an average growth of 247% in their full-time developer count. However, ICP outperformed this significantly, achieving an extraordinary surge of 635%.
Now, let’s continue by comparing single-chain developer growth, focusing on ecosystems with 50 to 5,000 developers and analyzing their progress from Q4 2020 to Q4 2023.
Source: electriccapital
Despite ecosystems gaining an average of 165% in their Single-chain developer count, ICP experienced an extraordinary surge, growing by 1,750%. In terms of single-chain developers, ICP demonstrated remarkable growth, expanding 960% more than the average growth of other ecosystems.
Moreover, multiple sources indicate that ICP is the most actively developed project in the crypto space.
All the aforementioned sources clearly demonstrate that ICP is deeply committed to development, growth, and innovation, positioning itself as a forward-focused leader in the blockchain space.
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