Crypto Lesu Market Impacted Blockchain Developers Decreased 26 Percent

Blockchain developers have decreased. (photo: doc. pixabay)

JAKARTA The latest data shows that the crypto industry has gone through more than 26% of weekly active developers' reductions over the past three months amid a prolonged market slump.

According to data aggregator Blockchain Artemis, four leading smart contract platforms such as Ethereum, Polkadot, Solana, and Cosmos, have also experienced a higher decline. They recorded a 30.5%, 43.6%, 48.4%, and 48.9% reduction in their respective developer activities over the past three months.

Interestingly, the decentralized data storage protocol Interplanetary File System (IPFS) and the Internet Computer blockchain network are among some of the top smart contract platforms that experienced growth during this period, with an increase of 206.6% and 21.7%, respectively.

Blockchain developers are those responsible for designing blockchain architecture, maintaining and improving infrastructure, and building smart contracts that support decentralized applications.

Blockchain developer activity is considered one of the most important metrics for the success of smart contract platforms, as those without developers are likely to struggle to grow.

Crypto researcher and founder of Tascha Labs, Tascha Che, told her 173,700 Twitter followers on September 8 that she doesn't believe this trend is a concern, as the decline is attributed to the exit of tourists and tourist investors, who will now allow legitimate builders to have peace and peace to complete real work.

Another Twitter user, who identified themselves as Binance research analysts, did not comment on the downward trend but said developer activity would be "important metric" to consider in the coming years due to its "crazy wheel effect" on the industry.

The decline in developer activity follows the crypto market crash from April to mid-June, which saw the entire crypto market cap cut from $2.1 trillion to $890 billion.