Developer Ecosystems in 2023–2024: Winners, Losers, and Key Takeaways

The latest developer data from Electric Capital reveals important trends in blockchain ecosystems over the past year. By comparing developer activity between December 2023 and December 2024, we can identify key shifts in ecosystem health and growth. A few ecosystems are thriving, while most are experiencing significant declines in monthly active developers (MAD) and new developers, despite large investments. Here's the data:

See the datasheet here: Developer Numbers 2023 December vs. 2024 December

Ecosystems like Mina Protocol (MAD down from 258 to 128, a -50.39% drop), Algorand (225 to 123, -45.33%), and Celo (493 to 285, -42.19%) suffered steep declines, highlighting that big budgets alone aren’t enough to sustain developer engagement.

On the other hand, ecosystems like Aptos stand out with an impressive 96% growth rate, making it one of the fastest-growing ecosystems of 2024. Stellar grew by about 24%, showing that well-structured developer programs and consistent support can still drive community traction.

There are nuanced cases like Scroll, which saw its MAD drop from 553 to 278 (-39.62%). However, the ecosystem attracted 790 new developers in 2023 and 477 in 2024, demonstrating that while overall activity might dip, strong developer pipelines and effective retention strategies are essential.

The key to success lies in sustained developer support and community-building. Simply pouring money into marketing isn’t enough if developers don’t feel supported or see infrastructure improvements.

Take Stellar, for example: Rise In developers contributed to 30% of the ecosystem’s new developers in 2024—nearly a third of its growth. This showcases how targeted, community-driven engagement can significantly propel an ecosystem forward.

Similarly, for Aptos, Rise In developers were responsible for 16% of the ecosystem’s new developers in 2024, aligning with the platform’s 96% growth. This proves that consistent developer outreach and investment in tooling lead to real growth.

Even though Scroll saw a drop in its MAD, Rise In contributed 8.18% of its new developers in 2024, demonstrating that a steady influx of new talent can still be onboarded, and with the right support, ecosystems can overcome challenges and continue to grow.

Our local outreach efforts, particularly in emerging markets like Turkey and India, have also played a significant role. For instance, Internet Computer (ICP) saw 5% of its development activity come from Rise In, proving that region-specific initiatives can strengthen global ecosystems. With our additional 1,000+ developers we submitted for ICP in December 2024, we expect to see the picture getting better for ICP in the next Electric Capital report.

As we look ahead, the next Electric Capital report will likely reflect the impact of genuine developer engagement. Ecosystems that focus on consistent support, such as Aptos, Stellar, and ICP, are positioned to continue thriving. Ultimately, budgets alone aren’t enough—what truly drives long-term success is a long-term and well-supported developer community.