1inch Expands to Solana with Crosschain Swaps on the Horizon
Solana has outpaced its competitors by recording 33% higher DEX trading volume, 400% more transactions, and 180% active wallet addresses.
The Solana network has more than 2500 monthly developers actively working on the platform, according to recent data published by the Solana Foundation.
The Foundation released a report that looked at network metrics over the course of 2023. In the analysis, it states that the network had seen between 2500 and 3000 active monthly developers on the platform. It noted that this is only taking public repositories into consideration in this number.
1/ In 2023, the Solana developer ecosystem made major advances in tooling, developer experience, & quality of content.
Today the Solana ecosystem has over 2500 monthly active developers on open source repositories and developer retention is over 50%.https://t.co/XwByL3HSuR???? pic.twitter.com/UnglforurA
— Solana (@solana) January 8, 2024
“Today, the Solana developer ecosystem has over 2500 monthly active developers on open source repositories, ongoing growth of professional developers joining the ecosystem, and a maturing developer environment… One of the simplest ways to measure how a network is growing is the number of monthly active developers building on the chain.”
While Solana’s report shows favourable data for the network, information from blockchain development tracker Developer Report indicates that the numbers towards the end of the year were dipping, with only 946 in October, dropping from the network’s record high in December the prior year.
Ethereum network versus Solana
In comparison to Solana’s active developers, Ethereum ($ETH) had 5,769 total monthly active developers on the first of October 2023, which was still a 22% decrease from its record high seen in June 2022, where it reached 7,433 active developers.
Solana’s developer retention has seen a 50% rise in the past three months. At the same time, there has been a consistent gain on the network, driving an increased price for the token. As per the Solana Foundation report:
“Over the course of 2023, 3 month developer retention within the Solana ecosystem has increased from 31% to >50%, keeping more developers that join in the ecosystem.“