Devs on Solana grew 83% from December 2022: Report

A report noted that Solana network secured a 10× increment growth in terms of devs inflow in its environment.

Solana is a popular Proof-of-stake (PoS) blockchain network. Solana blockchain is popular for its Proof-of-history (PoH) protocol, which allows the network to process transactions at scalability up to 50k TPS. Solana became one of the top infamous Crypto projects over the last year due to a network outage & FTX bankruptcy.

Recently a crypto and FinTech-focused venture capital firm Electric Capital shared a data comparison report between the different Crypto projects to point out their progress in terms of developer & development activities.

The report noted that the Solana blockchain ecosystem has a total of 2,082 full-time devs, which is the second biggest number after the Ethereum blockchain. And this increment in the devs number in the Solana blockchain is 1,000% over the last 2 years. 

This data finding is showing that Solana is now an Ethereum rival blockchain but the real-level development works will figure out the potential of the Solana blockchain because the Solana network already faced multiple bugs issues, where the network went offline several times. 

According to experts’ point of view, the sudden increment of devs number in the Solana blockchain took place because of the support of Ethereum co-founder Vitalik Buterin, who recently said that Solana has a bright future.

FTX, Alameda Research & Sol coin 

Sol is a native coin of the Solana network and in the initial phase of the Solana project, FTX & its sister company Alameda Research jumped in support of this coin as a biggest holder. 

In Nov 2022, FTX filed for bankruptcy along with 100s of its affiliated companies including Alameda Research. 

Many traders claimed that Alameda may improve its financial position by selling its Sol coin and that speculation acted as a catalyst to degrade the trust of Sol coin holders & Sol coin trade price. 

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