• The blockchain developer share in the U.S. fell from 40% in 2017 to 29% in 2022.
• Emerging markets like India were capturing the share away from the U.S.

As per an analysis by Developer Report, the U.S. ceded a considerable chunk of the blockchain development pie to emerging markets around the world.

The report highlighted that developer share in the U.S. fell from 40% in 2017 to 29% in 2022, corresponding to about 2% drop every year.

Source: Developer Report

The ongoing crackdown by regulators on centralized exchanges and other crypto participants has left the U.S. crypto sector in a state of trepidation, threatening the market dominance that the country has enjoyed over the last few years.

India, Ukraine show consistent web3 growth

The overall growth in development activity was encouraging, even as the crypto network value dropped to January 2018 levels, the report underlined. The number of developers jumped almost by four times during the same time period.

U.S. was still the market leader at the time of writing, accounting for 29% of all blockchain developers. European nations also enjoyed a combined market share of 29% while Asia was home to 13% of all web3 developers.

Source: Developer Report

But while U.S.’ share has declined over the years, emerging markets like India saw their developer share steadily increasing from 2% in 2017 to 6% in 2022. India’s growth trajectory showed more consistency as compared to other regions, the report stated.

India’s lucrativeness as...

source: https://ambcrypto.com/u-s-loses-web3-lead-amidst-regulatory-pushback-emerging-markets-rise/