Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of Global Crypto News’ editorial team.

There’s a critical issue in the crypto world—a developer shortage. While the crypto community thrives with active traders and enthusiasts, the developers who create onchain products are scarce. Without a strong developer base, achieving mass adoption for crypto is challenging.

Developer Shortage: A Significant Hurdle

Most people are not interested in trading or hyper-financial products; they seek solutions that make their lives easier, more efficient, and secure. We need developers who can create sustainable, long-term-focused products that extend beyond short-term hype. For crypto to reach mainstream adoption, blockchain technology must disrupt industries beyond finance.

The disparity is evident: crypto has approximately 1,000 times fewer developers than traditional tech. As of 2024, there are around 26,037 monthly active web3 developers globally. In contrast, there are about 27 million developers worldwide, with GitHub reporting approximately 100 million active developers. This highlights a significant problem: the crypto space lacks the developers needed to build the wide range of applications required for mainstream adoption.

Base Project: A Developer-Friendly Environment

Consider the example of Base, a project that has prioritized creating a developer-friendly environment. By providing a comprehensive suite of tools, documentation, and resources, Base simplifies the process of building onchain. This approach has attracted numerous developers, both experienced and junior, who are working on a wide range of decentralized applications and tools. Base’s success demonstrates the powerful impact a vibrant developer ecosystem can have on crypto’s growth and adoption. When developers are empowered with the right tools and incentives, they can create applications that will bring millions of users into the crypto ecosystem.

Challenges in Attracting Web3 Developers

The shortage of web3 developers stems from several challenges. One major issue is the “cold start problem” in crypto. It would be easier to onboard new developers if they were already onchain users. To onboard them as users, we need a broader range of apps beyond just financial use cases, and creating these apps requires more developers.

Another challenge is the perception of risk associated with becoming an onchain developer. Crypto is still viewed by many as a shady, unregulated area linked to scams and market volatility. Additionally, the lack of job security and clear career paths makes it a less appealing option compared to more stable, established fields. Consequently, the crypto industry tends to attract younger developers who have less to lose, while experienced professionals remain cautious about the potential risks.

Making Crypto Development More Attractive

To address this developer shortage, the industry has leaned heavily on grants and hackathons. While these are valuable tools, they often result in crypto companies competing for the same limited group of existing crypto developers instead of working together to bring more builders onchain. Hackathons, while exciting and full of potential, are typically one-off events that don’t provide the long-term support developers need to sustain their projects. Grants are often too bureaucratic and centralized, with lengthy application processes and strict requirements that can be discouraging for new builders.

Universal Builder Income: A New Approach

What if we could offer developers a more consistent and reliable way to make ends meet? This is where universal builder income (UBI) comes in. UBI represents a novel approach to distributing financial incentives to builders more efficiently. By “builder,” we refer to all people directly involved in shipping software, not exclusively developers.

Think of UBI as a regular paycheck for new onchain builders—one that doesn’t require an application process but instead rewards actual contributions and verified reputations.

We’re already seeing the early stages of UBI in action. For example, Drips Network—a decentralized toolkit aimed at funding essential software dependencies—is exploring how to distribute financial incentives more effectively and at scale.

Benefits of Universal Builder Income

For crypto to succeed, we need more builders. UBI offers a way to attract more builders onchain by acknowledging and supporting those who are committed to shipping great software. By providing a safety net, UBI empowers developers to focus on creating innovative solutions rather than worrying about their next paycheck. Additionally, UBI can further decentralize the crypto ecosystem. By distributing financial incentives directly to individual builders, we can reduce the reliance on centralized entities and foster a more equitable distribution of rewards.

Critics might question, “Who funds this?” However, we’re already investing substantial resources to attract developers, much of which is wasted on inefficient corporate strategies like employer branding or arbitrary sponsorships and events. By contrast, imagine a future where a portion of profits or ecosystem transaction fees automatically supports a UBI pool, rewarding those who are actively building the future of crypto.

UBI isn’t just about efficiency—it also has the potential to attract a more diverse group of developers, including those from underrepresented backgrounds. By providing financial incentives directly to individuals rather than startups, UBI fosters a more inclusive and experimental environment, unlocking a new wave of creativity and innovation. This approach can bring a variety of global perspectives, leading to more diverse solutions and driving crypto adoption in novel ways. Talent is everywhere, so the next big breakthrough could come from anyone, anywhere.

Empowering the Next Generation of Builders

With AI making shipping software easier, we’ll see a wave of “low-code builders” that specialize in concept, creativity, and distribution more than in technical prowess. UBI fuels this movement by giving these software creators the freedom to experiment and chase their ideas. With more builders empowered, we can expect an explosion of apps that go beyond tooling—they become art, games, and experiences that enrich our lives.

Universal builder income is a transformative concept with various potential implementations. It represents a value system and worldview, offering a general direction rather than an exact recipe.

To the crypto leaders reading this: it’s time to start your own UBI experiments. Explore different funding models, evaluate their effectiveness, and share your insights with the community. The more we experiment, the closer we get to realizing universal builder income.

The crypto industry stands at a crossroads. We can either maintain the status quo or innovate to create a more resilient and inclusive ecosystem. By supporting builders through initiatives like UBI, we can ensure that the next generation of software creators has the tools and resources they need to succeed. The road to mass adoption doesn’t lie with traders but with the builders who will develop the applications and services that integrate crypto into the daily lives of billions.

For more insights and the latest news on cryptocurrencies and blockchain technology, keep exploring Global Crypto News.

Post Views: 3