Crypto enthusiasts bid goodbye to ‘tourist builders’ amid 26% drop in dev activity

ambcrypto.com:

As per recent data, a lengthy market downturn has led to more than 26% reduction in the number of weekly active developers over the last three months.

According to Blockchain data aggregator Artemis, the four top smart contract platforms witnessed even much bigger decreases in developer activity. These include Ethereum [ETH], Polkadot [DOT], Solana [SOL], and Cosmos [ATOM]. These networks witnessed declines of 30.5% [ETH], 43.6% [DOT], 48.4% [SOL], and 48.9% [ATOM], respectively.

Source: Artemis

Building smart contracts that power decentralized applications, maintaining and updating infrastructure, and developing blockchain architecture are responsibilities of blockchain developers. One of the key indicators of a smart contract platform’s success is the activity of its blockchain developers. A platform with few developers would probably find it difficult to expand.

However, on 8 September, Tascha Che, a cryptocurrency researcher and the founder of Tascha Labs, tweeted that she didn’t think the trend was all that concerning. She also stated that the decline was attributed to the departure of “tourist investors” and “tourist builders”. Furthermore, it would give real builders “peace and quiet to get real work done.”

Tourist builders are leaving along w/ tourist investors.

Finally the industry is having some peace & quiet to get real work done.

h/t @Artemis__xyz pic.twitter.com/PAGi6Yh7eo

— Tascha (@TaschaLabs) September 8, 2022

A second Twitter user, a Binance research analyst, claimed that developer activity will be an “essential indicator” to take into account in the future because of the “flywheel effect” it has on the