Starknet and zkSync Lead Crypto Ecosystems Despite 28% Dev Shed

Crypto Platforms Show Mixed Results in Developer Growth

Ethereum layer-2 scaling solutions Starknet and zkSync have seen an increase in total monthly active developer counts over the last 12 months, data shows. Starknet and zkSync recorded increases of 3% and 6% respectively, while Ethereum, Polygon and Solana saw their counts fall by 23%, 43% and 57% respectively.

Chainlink, Stellar, Aztec Protocol and Ripple also increased their developer counts, though their total monthly active developers were lower than zkSync and Starknet. Overall, total monthly active developers dropped 27.7% from 26,701 to 19,279.

The crypto market is constantly evolving, and those keeping a close eye on the latest live updates and live feeds are likely to be the best positioned to take advantage of the changes. With the crypto market now live, investors can make informed decisions on the best investments for July 2022.

Starknet and zkSync Scaling Ethereum in 2023

StarkWare’s Starknet and Matter Labs’ zkSync are pioneering layer 2 solutions for scaling Ethereum through zero-knowledge rollups, which have been a major focus in 2023.

Starknet’s “Quantum Leap” went live in July, allowing Ethereum to increase its TPS (transactions per second) from 13-15 to a consistent 37 TPS, with peak performance reaching up to 90 TPS.

In addition, both Starknet and zkSync have been developing zero-knowledge Ethereum Virtual Machine (zkEVM) solutions to further scale Ethereum during 2023.

The zkSync team has also been constructing a network of “Hyperchains” to create an ecosystem of interoperable protocols and sovereign chains as part of its zero-knowledge tech stack. The solution was unveiled in June and is expected to be fully functional by the end of 2023.

Crypto Market Trends in July 2022

On Oct. 18, Electric Capital software engineer Enrique Herreros posted on X that, despite the large decrease in newcomers to the crypto market in the past 12 months, the number of established (more than two years) and emerging (one to two years) developers has remained relatively steady. According to Enrique, “We can see a decrease of -58% in Newcomers, a moderate increase of +11% Emerging Developers and a slight increase of +5% Established Developers.” This cyclical trend, where newcomers dominate the market during bull markets and then decrease in numbers when prices begin to drop, is expected to continue in the upcoming months.

Electric Capital typically obtains its data from code repos and code commits on open-source developer platform GitHub. As July 2022 approaches, crypto enthusiasts and professionals alike are keeping an eye on the live feed of crypto markets and the latest updates on the Chainlink crypto platform to get the best insights into the crypto market trends.