Asia Surges Ahead in Crypto Development, US Lags
According to recent research, Asia has surpassed North America as the region with the most blockchain and crypto development expertise.
The geographic distribution of cryptocurrency developers frequently indicates the regions most likely to lead blockchain innovation in the future.
Asia is the top region for developer skills in the industry, with 32% of cryptocurrency developers in 2024, up from only 13% in 2015.
Maria Shen, managing partner at Electric Capital, stated in an Oct. 30 X post that North America’s developer share was essentially halved, falling to 24% from 44% in 2015.
“Asia is now #1 for crypto devs. The US is losing market share. Crypto impacts every state in the US – crypto should be non-partisan.”
The geographic distribution of cryptocurrency developers frequently indicates the regions most likely to lead blockchain innovation in the future. Since it means a rise in blockchain-based consumer applications, a growing developer community in any country is a sign of the widespread adoption of blockchain technology.
It still has the most developers worldwide, even though 81% of all blockchain developers live outside the US.
The United States accounts for 18.8% of all cryptocurrency developers, followed by India at 11.8% and the United Kingdom at 4.2%.
Nevertheless, despite the industry’s continuous expansion, developer share in the US has decreased by more than 51% since 2015.
California is home to 22.3% of developers in the US, whereas New York is home to 13.7%. Sixty-four percent of developers in the United States reside outside these two states.
Researchers examined more than 200 million cryptocurrency-related GitHub commits in 350,000 repositories. More than 110,000 developer wallets with self-reported locations provided the geographic data.
In Asia, institutional interest in cryptocurrency has increased. By the second half of 2024, the number of cryptocurrency investors in South Korea had risen by more than 21%, and the combined operating profits of the top 21 local centralized exchanges (CEXs) had risen to over $4.2 billion, a 106% increase from the previous year.
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