Solana’s native SOL token emerged as one of the top-performing crypto assets in 2023, with the Layer 1 network’s developer ecosystem also demonstrating consistent growth. The Solana ecosystem experienced a significant rise in developer retention during this period, increasing from 31% to over 50% within three months. This improvement was attributed to several factors, such as advancements in developer onboarding, the growing appeal of the Solana blockchain among developers, and an increase in opportunities within the ecosystem.

The Solana Foundation recently reported that the assessment of retention rates specifically targeted developers who consistently made at least one commitment over three consecutive months. Additionally, 400-500 Solana developers, having completed various boot camps, entered the ecosystem every six months, leading to a remarkable 500% growth in job listings over the year. According to GitHub data, the improved retention rate resulted in a steady monthly active developer count, fluctuating between 2,500 and 3,000 within the Solana ecosystem throughout 2023. The foundation stated that progress in tooling for various programming languages and the introduction of additional educational resources helped drive this positive trend. However, they also acknowledged potential areas for improvement, particularly in areas such as testing and debugging.

Despite being relatively new, with the Solana mainnet beta going live in March 2020, the report also claimed that the Solana ecosystem has rapidly expanded to become the second-largest in terms of total monthly active developers. The growth is attributed to many different factors, and it is challenging to pinpoint what led to the majority of developers joining. Since the launch of the mainnet beta, the Solana Foundation has either run or funded a variety of initiatives with the core objective of growing the developer ecosystem.

Despite a rough start to the year due to its association with the FTX collapse, which dragged the value of the SOL token into a massive downward spiral, Solana saw an impressive recovery during the last months of 2023. The asset grew by over 800% in the past year and strengthened its position as the fifth-largest crypto asset by market cap. Solana-related investment products also posted strong performance, attracting net inflows totaling $167 million, while Ethereum trailed behind with a comparatively modest $78 million. Solana’s searches on Google surpassed those for Ethereum in December, gaining the most popularity in Spain and the Philippines.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography Asia
Countries 🇪🇸 🇵🇭
Sentiment positive
Relevance Score 1
People None
Companies Binance Futures, Solana Foundation, GitHub
Currencies Solana, Ethereum
Securities None

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