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Solana network experiences significant increase in developers

Solana network experiences significant increase in developers

The Solana (SOL) network is starting the new year off strong. The network has seen a strong increase in the number of developers, particularly in developer retention. According to the Solana Foundation, the popular crypto network has managed to retain nearly 3,000 active developers on a monthly basis in 2023.

Solana maintains a large number of developers

The Solana Foundation reports that the platform has managed to retain an impressive 50% of developers throughout 2023, which is a significant increase compared to the 31% retention rate from the previous year.

As a non-profit organization, the Solana Foundation aims to support the development and growth of the Solana network.

Solana has evaluated developer retention by measuring the number of developers who have made at least one contribution to the network over three consecutive months.

According to the organization, the number of active monthly developers ranges between 2,500 and 3,000.

A successful 2023

Solana had a successful year, as evidenced by its price performance. The SOL price increased by over 500% from October 2023, reaching a peak of $125 by the end of the year.

In 2023, Solana quickly surpassed many competitors. It also formed various partnerships, including with credit card company Visa, payment processor Worldpay, and e-commerce platform Shopify. Investment banks are testing Solana as an alternative network to the slow Bitcoin blockchain, while financial service providers are building apps on it. Will Solana become the network of the future?