Solana’s network has surpassed Ethereum in many ways in recent years. By 2024, the network that was declared the former Ethereum killer and had reliability problems had by far the most blockchain transactions, which was naturally felt by the price of its native token. In 2024, 7,625 new developers joined Solana, surpassing Ethereum by any other blockchain network for the first time since 2016.

Meanwhile, the number of active Ethereum developers has decreased by nearly 20%, to 6,244 developers. Solana’s is the most popular blockchain network
According to Electric Capital’s annual report, Solana’s network was a most popular both from a user and developer perspective. While more than ten billion transactions were conducted on the network in 2024 – which is five times that of the second-ranked NEAR Protocol – more than 7,600 new developers joined the network.

This 83% growth resulted in Solana becoming the first network to surpass Ethereum in terms of developers since 2016. A report reviewed by CoinDesk reveals that during the same period, Ethereum registered only 6,244 new developers, a 17% drop in the number of active developers. However, despite the decline, Ethereum’s second-tier scaling solutions such as Optimism, Arbitrum, and Basestill have outstanding activity, exposing more than half of the ecosystem.

Despite the decline, Maria Shen, a partner at Electric Capital, stated that Ethereum remains a global leader in blockchain development. Leading features of Solana’s network
The ecosystem of the network, which has a speed of nearly 65,000 transactions per second, has undergone significant growth in the last one and a half to two years.

While Solana gave its network real-world use with the release of the Saga smartphone, Ethereum’s biggest move was entering the institutional market thanks to instant ETFs. Decentralized finance (DeFi) and NFTs have already appeared on Solana’s network years ago, even though Ethereum still leads the ranking of the amount locked on the network (TVL) with $77 billion.

By the way, Solana has a TVL of $9.28 billion, but its growth rate exceeds that of Ethereum. However, due to growing cryptocurrency adoption, Solana’s fast and efficient network may be especially attractive to developers, and the Rust programming language is an advantage for those with general programming experience.

As efficiency seems to be popping up in NFT marketplaces, DeFi protocols and Web3 applications, Solana is a perfect choice for those who prefer low fees and generally fast speeds. In the meantime, Ethereum’s network remains the most stable based on value and decentralization, but at the same time, users and developers find the slow and particularly expensive – but reliable – network less and less attractive.

Blockchain development focuses on Asia
By 2024, Asia has become the primary destination for blockchain development. The continent overtook North America in this regard, with India accounting for 17% of all new developers. Even though the US still accounts for 19% of the global development base, according to Shen, the dominance of the US and North America is steadily declining and conditions are no longer desirable.

The partner behind the report emphasized the importance of global blockchain development without borders, as a result of which engineering talents outside of America can also show their skills. And one of the beauties of digital devices is global diversity.

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