The number of active, open source developers in crypto has reached its lowest point since 2020, according to Web3 VC firms Andreessen Horowitz (a16z) and Electric Capital.

Data from the former’s State of Crypto Index shows that crypto coders have nearly halved from their peak last year, sliding from 36,500 active devs in January 2022 to just 19,630 active devs in September 2023.

The last time developers were below this level was near the start of crypto’s bull market in December 2020, boasting around 18,100 devs at the time before roaring upwards alongside the digital asset market.

Paul Cafiero, a communications partner at a16z Crypto confirmed to Decrypt that the data is accurate. However, CTO Eddy Lazzarin claimed over Twitter that the displayed figure may not tell the whole story.

“In order to track active crypto developers, we use Electric Capital’s popular ecosystems project to identify crypto-related Github repos,” Lazzarin explained over Twitter. The tool effectively tracks crypto-focused repositories on the site, and the number of active developers working with each one.

“We’re curious how much crypto dev is now happening outside of the open source infra repos reflected

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Author: Andrew Throuvalas

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