Report: 55% of Crypto Developers Say the Bear Market Has Increased Their Desire to Build

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Crypto winters are truly made for building. That’s according to a survey of crypto developers conducted by Hiro, a Web3 developer toolkit.

The H2 2022 Developer Survey confirms that when speculative activity around crypto cools down, it’s time to get to work. More than half of respondents (55%) said the bear market has increased their desire to work in Web3, with most focusing on NFTs and DAOs.

Many developers want to see innovation thrive on Bitcoin, with 38% of respondents citing this as their primary motivation for developing on Stacks, a programmable layer on top of Bitcoin.

What is the most important feature of a blockchain? According to 60% of respondents, decentralization is the key feature of the blockchain trilemma of security, decentralization and scalability. Another interesting finding from the survey is that 59% of Stacks developers view the term Bitcoin maximalism as neutral.

Image source: HiroThe will get easier for crypto developers

Stacks developers also reported in the Q3 2022 survey that every stage of development has gotten easier since Q1, especially deploying contracts to the network, integrating contracts into apps, and maintenance. and application and contract monitoring.

While the Hiros developer community is focused on Stacks, they are also involved in other blockchain ecosystems. Ethereum, which recently moved to proof-of-stake post-merger, remains a clear favorite. Cosmos and Lightning saw the strongest growth within the Stacks developer community, with an 85% and 64% increase in activity, respectively. Other chains lost ground among respondents, with Polygon, Binance Smart Chain, Avalanche, and Polkadot seeing declines in popularity.

Methodology

Developers from over 50 countries responded to the survey, with the highest concentrations coming from Asia-Pacific (34.5%) and North America (30.3%). Survey respondents were overwhelmingly (85%) male. Three quarters are between 25 and 44 years old. A third are full-time, part-time or self-employed in Web3.

Read Hiro’s full report.

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