How Solana Beat Out Ethereum to Nab New Crypto Developers in 2024 - Ep. 749

Unchained

Laura Shin

Business News, News, Tech News

4.6 • 1.3K Ratings

🗓️ 13 December 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

The 2024 Developer Report from Electric Capital reveals many shifting dynamics. For starters, for the first time in eight years, Ethereum was not the top chain for new developers—Solana was. Meanwhile, Asia has emerged as the leading hub for crypto development, taking the top spot from North America, which dropped to third. In this episode, General Partner Maria Shen explores how Ethereum's Layer 2 solutions are bolstering its position despite fierce competition, why the Bitcoin developer ecosystem remains steadfast, and how emerging projects like EigenLayer are capturing builders’ attention. She also delves into the top crypto technologies that are fascinating devs, and how their usage and development activity differ across the globe. Show highlights: Maria’s top takeaways from the report Whether the developer migration from the U.S. will stop under a friendlier regulatory environment How Ethereum has maintained its dominance despite its high fees and the rise of Solana What the steadiness of the Bitcoin developer ecosystem shows Which other smaller ecosystems are growing the most How ZK contract usage has been increasing over time Why, despite what one could think, NFT minting activity is higher than ever How stablecoin usage differs from token to token and also across countries Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Guest Maria Shen, General Partner at Electric Capital Previous appearance on Unchained: Why Crypto Developer Activity Continues to Grow Despite the Bear Market Links Unchained: A Big 2024 Crypto Trend: Solana Attracts More New Developers Than Ethereum Timestamps: 00:00 Intro 02:02 Key findings from Electric Capital’s Developer Report 08:28 Could a friendlier U.S. regulatory environment reverse the developer migration? 12:54 How Ethereum could stay dominant amid rising competition from Solana 17:48 Insights from the Bitcoin developer ecosystem 21:33 Emerging smaller ecosystems gaining traction 23:41 The steady growth in ZK contract usage 27:39 Why NFT minting activity is at an all-time high 32:31 How stablecoin usage varies across tokens, chains and countries 36:22 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Menting volume actually hit an all-time high in 2024. The highest that it reached in January
0:06.8	2021 was $800 million in a month in terms of minting volume. In November 24, it hit $1.5 billion.
0:16.4	And so there's more that's being minted now than there ever was.
0:21.4	97% of that is happening on base.
0:24.7	This kind of perception that we have around NFTs, right?
0:27.9	That it's art and that it's collectibles.
0:31.1	You're really seeing that diversify quite a bit in 2024.
0:36.2	Some of the top assets are collectibles or game assets,
0:40.0	but a lot of them are reward systems, right? Or they could be NFT is used in defy activity,
0:48.1	or they could be just kind of like a badge or some sort of identity credential that's given out. And so you're
0:55.7	really seeing this huge diversification of what it even means to be an NFTE.
1:04.9	Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host,
1:09.2	Laura Shin. On Tuesday's episode about crypto under Trump,
1:13.5	featuring guests Jake Trevinsky and Mike Selegg,
1:16.6	Rain tweeted on X.
1:18.2	Let me tell you about Jake.
1:19.5	He's an enlightening, knowledgeable, total nerd,
1:21.8	and defy Chad fighting for humanity's rights and freedoms
1:24.8	into centralized finance.
1:26.6	Hashtag Defi.
1:27.9	Even pure memeheads love him.
1:29.9	If you want to hear your comment on the show, go to X or YouTube to post a comment or retweet.
	...

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