Originally published on: October 31, 2024
Asia has emerged as the frontrunner in the world of cryptocurrency and blockchain development talent, surpassing North America, according to a recent report.
The report reveals that Asia now holds a 32% share of cryptocurrency developers in 2024, a significant increase from just 13% in 2015, establishing itself as the top region for developer talent.
On the flip side, North America has seen a decline in its share of developers, dropping to 24% in 2024 from 44% in 2015, as reported by Electric Capital general partner Maria Shen.
The distribution of crypto developers across different continents is a key indicator of where blockchain innovation is likely to thrive in the future. A growing developer base signals the potential for mass adoption of blockchain technology and the development of new blockchain-based consumer applications.
While the United States still boasts the highest number of crypto developers globally, with 18.8% of all developers located in the country, the overall trend shows a decline of more than 51% since 2015.
California is home to 22.3% of US developers, followed by New York at 13.7%, while the majority of US developers, 64%, reside outside these two states.
The analysis, which studied over 200 million crypto-related GitHub commits and 350,000 repositories, also sourced geographical data from over 110,000 developer wallets with self-reported locations.
With institutional interest in cryptocurrencies on the rise in Asia, countries like South Korea are seeing a surge in crypto investors, with a 21% increase in the first half of 2024. This growth has translated into significant profits for local centralized exchanges in the region.
As Asia solidifies its position as the global leader in crypto development, the landscape of blockchain innovation continues to evolve, with potential for further growth and adoption worldwide.
