Solana Surpasses Ethereum in New Developer Adoption for 2024
For the first time since 2016, Solana has outpaced Ethereum in attracting new developers, becoming the leading blockchain for developer onboarding in 2024. Solana saw an impressive 83% increase in new developers compared to last year, according to a report by venture capital firm Electric Capital.
The report revealed that out of 39,148 new blockchain developers this year, 7,625 chose Solana, surpassing Ethereum’s 6,456. This milestone highlights Solana’s growing appeal, driven by its low fees, fast transactions, and developer-friendly ecosystem.
“Solana’s popularity boils down to being fast, cheap, and scalable,” said Arthur Azizov, CEO of B2BINPAY. While Ethereum transaction fees can reach $6–$8, Solana offers significantly lower costs, ranging between $0.003 and $0.03 per transaction.
The Solana Virtual Machine (SVM) also played a pivotal role in attracting developers. Experts like Vijay Pravin, CEO of bitsCrunch, cite SVM’s advanced architecture and parallel processing capabilities as key advantages over Ethereum’s Virtual Machine (EVM). Solana has also gained traction through its role in powering memecoins and autonomously transacting AI agents, further boosting developer interest.
Despite Solana’s surge in new developers, Ethereum remains the leader in overall developer activity, particularly in major markets like the U.S., U.K., Canada, and China.
Shift in Global Developer Demographics
The report also noted a geographic shift in developer activity. Asia now leads in developer share, overtaking North America, which has fallen to third place. While the U.S. remains the top country with 19% of global developers, its share has dropped significantly from 38% in 2015.
India has emerged as the new leader in onboarding blockchain developers in 2024. Analysts attribute the U.S. decline to increasing regulatory pressure. Critics like Nic Carter have blamed the Biden administration’s actions, referring to efforts like ”Operation Chokepoint 2.0” as key factors driving developers away.
A Broader Trend in Blockchain Innovation
The 39% annual growth in new developers since Ethereum’s 2015 launch underscores the increasing global interest in blockchain technology. Solana’s rise to the forefront highlights its ability to meet the demands of a growing developer community, signaling a shift in the competitive dynamics of the blockchain space.
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