DEPRECATED: Numbers Don’t Lie — Crypto Needs More Developers Desperately

This article is deprecated and no longer accurate. Visit https://versatus.io/blog for Versatus updates and news.

Introduction

As the world of blockchain technology and cryptocurrency continues to expand at an exponential rate, many projects and platforms are racing to become the next “killer app” that will bring in the next billion users. However, in the rush to scale and achieve widespread adoption, we must pause and reconsider the focus of our efforts. The key to unlocking the potential of crypto and Web3 lies in nurturing and attracting the first million developers, rather than chasing the elusive billion-user milestone.

The crypto ecosystem is currently comprised of roughly 30,000 full and part time developers. This despite having poured literally billions of dollars into developer acquisition. We need to take a step back and be honest with ourselves, the numbers don’t lie and we won’t find multiple killer apps with such a small developer community.

The State of the Crypto Ecosystem

According to data from demandsage.com, there are roughly 70,000 startups founded in the US annually and another 30,000 worldwide. Currently, around 1,500 of these startups have reached unicorn status (private companies valued at $1 billion or higher), with an additional 512 being publicly traded tech companies worth over $1 billion. These figures paint a sobering picture — out of every 500,000 startups, only about 2,000 manage to attain the coveted unicorn label, and many of them do not maintain that status.

More importantly, only a small fraction of these unicorns reach “killer app” status, which I would define as having over 100 million monthly active users.

While there are some of these start ups that are 1 man developer teams, this is the absolute outlier. The majority of them have teams of 10 to 100 developers. We are talking about millions of developers to build the startups we all know and love.

This begs the question: why are we so fixated on reaching the next billion users in the crypto/Web3 space, and not more focused on doing everything we can to attract the lifeblood of the ecosystem, the developers?

The First Million Developers: A Shift in Focus

I don’t mean to shit on developers in the space… Many are working on incredible things, and many more have incredible ideas. Unfortunately, the platforms developers have been provided to build on lack the flexibility needed to actually build what they want.

Instead developers focus the majority of their time on gas optimization, security, and basic functionality, and little to no time on the features that would drive users, because they have to get to market…

As the ecosystem evolves, it is crucial to shift our focus from user numbers to nurturing a thriving developer community. It is through the creativity and innovation of developers that the most transformative use cases and applications emerge. By attracting and retaining the first million developers, we can lay the foundation for the next wave of disruptive and game-changing technologies in the crypto/Web3 space.

Versatus: Fast, Scalable, Designed for Developers

Versatus addresses the pressing need for more developers in the crypto ecosystem. By offering a versatile and accessible platform, Versatus empowers developers to create decentralized applications (dApps) and other blockchain-based solutions without being limited by their choice of programming language, frameworks, developer tools or SDKs.

Versatus’s unikernel containers provide an efficient and lightweight infrastructure that allows for rapid deployment and seamless scaling. This enables developers to build applications with ease, without sacrificing performance or security.

Building a Strong Developer Community

To attract the first million developers, we must create an environment that not only fosters innovation, collaboration, and learning but also leverages the power of flexibility. By eliminating barriers to entry and embracing adaptability, we can offer numerous advantages:

1. Embracing flexibility in programming languages and tools: Allowing developers to use their preferred languages and tools empowers them to focus on innovation rather than learning new skills. This approach streamlines the development process, enabling faster and more efficient application creation.
2. Accelerating development through shorter roadmaps: Flexibility in development allows for shorter roadmaps, making it easier for developers to launch projects quickly and iterate on their ideas. This agile approach encourages experimentation and rapid innovation, driving the growth of the crypto ecosystem.
3. Reducing the security burden on developers: By providing a secure and robust foundation, flexible platforms like VRRB can alleviate the security burden on developers. This allows them to concentrate on building applications without worrying about the underlying infrastructure’s security, ultimately leading to a more reliable ecosystem.
4. Enhancing cross-chain compatibility and collaboration: Flexibility in the crypto ecosystem enables seamless integration between various platforms, protocols, and dApps. This interconnected approach fosters collaboration, sharing of resources, and the development of solutions that benefit both developers and users.
5. Streamlining onboarding and user experience: A flexible development environment enables developers to create more intuitive and user-friendly applications. By simplifying the onboarding process and improving the overall user experience, developers can attract a broader audience and drive adoption.

By focusing on flexibility, we can provide developers with a more efficient, streamlined, and secure environment to build their projects. This approach will not only foster innovation but also create a thriving ecosystem that unlocks the true potential of decentralized technologies. By removing traditional barriers to entry and embracing adaptability, we can pave the way for a more dynamic and inclusive crypto/Web3 community.

Conclusion

The future of crypto and Web3 hinges on attracting and nurturing a robust developer community. Instead of focusing on achieving the next billion users, we must prioritize building the foundation for the first million developers. These talented individuals hold the key to unlocking the potential of blockchain technology and creating the innovative solutions that will drive mass adoption.

By providing an accessible and versatile platform like Versatus, along with the necessary resources and support, we can empower developers to explore the full potential of decentralized technologies. This will not only lead to the creation of groundbreaking dApps and services, but also foster a vibrant ecosystem that fuels further innovation.

As we continue to build and expand the crypto/Web3 space, let us remember that our greatest asset is the creative minds and innovative spirit of the developers who dedicate their time and energy to this industry. By investing in their growth and success, we can pave the way for a more decentralized, secure, and inclusive digital future.

So let us shift our focus from chasing the elusive billion-user milestone to nurturing the first million developers. This is where the true potential of crypto and Web3 will be unlocked, and this is where we will witness the next wave of transformative technologies that will reshape the world as we know it.

About Versatus Labs, Inc.

Versatus Labs is the development company building Versatus, an innovative blockchain protocol. Versatus is a fast, scalable Layer 1 built on top of a novel consensus mechanism called Proof of Claim. Versatus aims to make the developer experience frictionless by bringing ‘Build, Ship, Run’ DevOps to Web3 with its isolated, composable smart contracts containers, complete with a unikernel VM enabling developers to build in the language of their choice.

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