Why the crypto industry is losing its luster

– The crypto industry has seen a 26% reduction in weekly active developers over the last three months.
– The four leading smart contract platforms – Ethereum, Polkadot, Solana and Cosmos – have experienced even higher reductions, of 30.5%, 43.6%, 48.4% and 48.9% respectively.
– Decentralized data storage protocol Interplanetary File System (IPFS) and blockchain network Internet Computer were among the few top smart contract platforms to have seen growth throughout this period, with increases of 206.6% and 21.7% respectively.
– Blockchain developers are primarily responsible for designing blockchain architecture, maintaining and upgrading infrastructure and building smart contracts that power decentralized applications (DApps).
– Active developers across all crypto protocols have dropped 30% this year.