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Solana became one of the best-performing crypto assets in 2023. The Layer-1 network’s developer ecosystem also showed steady growth during the same period. The Solana ecosystem experienced a notable increase in developer rate, with the number of developers rising by over 50% within a three-month timeframe. The surge in developer participation in the ecosystem is attributed to various factors including the increasing allure of the Solana blockchain network among developers and the growing opportunities within the ecosystem.
Significant Report from Solana Foundation
Solana Foundation recently published a report highlighting that it specifically targeted developers who consistently made at least one commitment over a three-month period. Additionally, between 400 to 500 Solana developers who completed various training camps enter the ecosystem every six months, leading to a significant 500% increase in job listings over the year.
According to GitHub data, the improved retention rate in the ecosystem resulted in a consistent monthly active developer count ranging between 2,500 to 3,000 throughout 2023. The Foundation noted that the development of tools for various programming languages and the provision of additional educational resources supported this positive trend.
Despite being relatively new with the launch of the Solana mainnet beta in March 2020, the report also mentioned that the Solana ecosystem rapidly expanded to become the second-largest ecosystem in terms of total monthly active developers:
“This growth stems from many different factors, and it’s challenging to determine exactly what led to the majority of developers joining. Since the launch of the mainnet beta, the Solana Foundation has conducted or financed various initiatives with the primary goal of growing the developer ecosystem.”
Noteworthy Details for Solana
Solana had a challenging start to 2023 due to its association with the FTX bankruptcy. However, particularly with the rise experienced in the fourth quarter of the year, it saw an increase of over 800% from the previous year and strengthened its position as the fifth-largest crypto asset by market value.
With these developments, the Solana ecosystem experienced an impressive recovery in the final months of 2023. Investment products related to Solana also displayed strong performance, with a total of 167 million dollars in net inflows, while Ethereum lagged behind with a modest inflow of 78 million dollars.
