The U.S. Faces Decline in Crypto Developers, Threatening Leadership in Blockchain Space

The United States is experiencing a notable decline in its share of crypto developers, raising concerns over its leadership in the rapidly evolving crypto economy. Recent data from Maria Shen, a general partner at blockchain venture firm Electric Capital, indicates that the U.S. now represents only 18.8% of global crypto developers.

The U.S.’s developer share has also fallen by 51%, suggesting that the country may be losing its competitive edge. Shen attributes this shift to a challenging regulatory environment, saying that the U.S. “needs clear crypto policy to maintain its country lead.”

Despite this trend, the U.S. remains the top country for crypto developers, holding 18.8% of the market. Following the U.S. are India and the U.K., with 11.8% and 4.2%, respectively. Additionally, data revealed that 64% of U.S.-based developers reside outside California and New York, which Shen describes as an “opportunity for job and wealth creation for policymakers.”

In early January, Electric Capital reported a 24% decrease in the overall number of crypto developers in 2023, with the number of newcomers dropping by over 50%.

When examining specific ecosystems, Ethereum remained the dominant platform, attracting over 16,000 new developers actively contributing code this year. Other platforms, such as Polygon, also garnered significant interest. Bitcoin ranked 13th on the list, sharing the spot with Internet Computer, Optimism, and BNB Chain.

For more news and updates on the crypto industry, visit Global Crypto News.

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