The extent of the expansion of the decentralized finance industry and the Web 3.0 is inferred by the amount of money deposited in it and the enthusiasm of investors towards these emerging sectors that many of them see as shaping the future.

A recent report by “Electric Capital” shows that more developers are getting involved in the field of decentralized technologies.

A study conducted in 2021 shows that $100 billion worth of smart contracts has been locked into Web 3.0 project platforms and decentralized finance.

$100 billion controlled by 1,000 developers:

I extracted the studywhich earlier this week published its results from nearly 500,000 projects on Github with 160 million commits.

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The study described Web 3.0 as the fastest growing niche in the decentralized space and stated that the demand for such developers is at an all-time high.

More Developers Joining Web 3.0 Projects:

The information available through the study shows that 18,000 active developers made monthly commitments to Web 3.0 projects related to open source Crypto projects in 2021.

Interestingly, 34,000 new developers joined in the same year.

A 65% increase in developer participation in Web 3.0 projects was also observed which also indicates a much higher convergence of the sector in 2021.

Some of the most notable projects that have seen an influx of commitments due to the growing interest from developers are Bitcoin and Ethereum.

Among the projects present and to which a number of developers contribute:

Bulkadut, Wslana, Cardano, Cosmos, Bulkadut, and Blockshin Binance.

As these projects have more than 250 developers working on their tokens at a monthly rate.

The concept of Web 3.0 or decentralized internet has aroused the interest of developers since decentralized technology has become a popular trend.

Some projects like Polkadot have been able to establish working channels through the interoperability of blockchain networks.

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This demonstrated the practicality and potential of the Web 3.0 concept despite the skepticism of critics such as Elon Musk, who believes that the potential for a decentralized Internet is more than a marketing buzzword.

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