The Solana (SOL) Foundation reports a significant increase in developer recruitment and retention through 2023. The Foundation attributes this growth to the advanced tools and educational resources available in the Solana ecosystem.
According to the report prepared by the Solana Foundation, the quarterly developer retention rate in the Solana ecosystem increased from 31% to over 50% in 2023.
The foundation attributes this growth to improvements in developer recruitment and increased opportunities in the ecosystem. The report assessed retention by measuring the number of developers who made at least one transaction in three consecutive months.
The report also highlighted that approximately 400-500 SOL developers graduate from multiple developer boot camps every six months. At the same time, job postings increased by 500% during the year.
The increased retention rate helped retain 2,500 to 3,000 monthly active SOL ecosystem developers through 2023, according to GitHub data. The Solana Foundation also attributed the increased activity to improved tools for multiple programming languages and additional educational resources. However, the foundation also acknowledged that improvements were needed in areas such as testing and debugging.
“More than 3,000 projects have been implemented in the last three years and over $600 million has been raised for projects submitted to hackathons,” Solana Foundation wrote and added:
“The number of project applications increased with each hackathon. More than 900 applications were submitted for the last Solana Hyperdrive hackathon.”
The increase in developer activity in the Solana ecosystem in 2023 coincides with a strong year for Solana's native cryptocurrency, SOL. SOL, which dropped to $8 with the FTX crisis, rose above $120 in 2023.
*This is not investment advice.
