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Recently, the Solana blockchain network surpassed Ethereum as the largest developer ecosystem in the Cryptocurrency world. This milestone consolidates Solana as one of the most important multipurpose networks. Likewise, the blockchain is consolidated as the largest of the so-called Ethereum killers.
With this new barrier overcome, the network puts an end to 8 years in a row of Ethereum’s dominance in this field. The ecosystem created by Vitalik Buterin and other experts moves to second place in developer reception, a field it has been leading since 2016. Basically, Solana becomes the biggest option for developers.
This achievement has a logical reason behind it and is due to the fact that Solana has enormous technological support. The ecosystem so far only has its first layer to offer great advantages in terms of economy and speed for the protocols that are created within it.
According to data collected by Electric Capital in a report, the Solana network surpassed Ethereum with 7,625 new developers in 2024. They highlight that this is the first time in history that Ethereum has been displaced by another first-layer network. In this way, the bet that the reign of Ethereum has its days numbered is reinforced. Despite this, Buterin’s network maintains a solid dominance in other areas.
Solana leaves Ethereum behind in active developers per month
The aforementioned report highlights that Solana also exercises leadership in terms of monthly active developers. In this particular sector, the network has a year-on-year advance of 83%, while Ethereum is notably lagging behind. In second and third place in growth of active developers per month are Internet Computer (75%) and Base (50%).
Solana’s conquest of the throne in this particular occurred in July 2024. In that sense, he became the main preference in Asia, while he was second in the US and the United Kingdom. However, the fact of commanding the elections in India already gave him the greatest advantage.
Solana’s low commissions become one of the great incentives for developers. This is reflected in the fact that 81% of all transactions on decentralized exchanges occurred on that network. Likewise, 64% of all NFT transactions minted across all blockchains also belong to Solana.
These and other data such as trading volume on exchanges allowed Solana to leave Ethereum behind. This developer and community enthusiasm for this blockchain could generate enormous buying pressure for the network’s native token, SOL.
At the time of writing this note, the price of the coin is $223 per unit. Investors and analysts expect a new bullish momentum, after the deep decline that followed the ATH on November 21, when it reached $264.
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