Can Bitcoin Afford to Maintain Its Core Network?

A recent report by crypto venture firm Electric Capital supports Lee’s perspective. Despite a bloodbath in the crypto markets, the number of full-time developers in the general blockchain ecosystem grew by 8% to an all-time high of 61,000 developers in 2022. The data is even more impressive when reviewed over a five-year period: The number of monthly active developers in the Bitcoin ecosystem has tripled since 2018 and stands at roughly 1,000 active developers every month. Ethereum’s developer count has swelled five-fold to almost 6,000 contributors over the same timespan, according to the report.