The Solana ecosystem achieved a milestone by boosting its developer retention rate from 31% to over 50% in just three months in 2023.
The Solana Foundation attributes growth to improved onboarding processes and broadening opportunities within the ecosystem.
This development has cultivated a vibrant community, evidenced by the more than 2,500 developers actively participating in open-source projects every month.
A closer look at the factors contributing to this surge reveals an emphasis on education and employment.
Approximately 400-500 developers emerged from various Solana boot camps every six months, leading to a 500% rise in job listings across the ecosystem.
This growth in the developer community was further supported by improvements in tooling across several programming languages and a boost in educational resources.
However, the foundation also recognized the need for further advancements in testing and debugging.
SOL, the native cryptocurrency of Solana, saw an increase in its market value, soaring by 1,000% from $10 to $102 in 2023. This remarkable surge positioned SOL as the highest-performing major altcoin of the year.
Solana (SOL) is currently trading at $101, with the platform setting new records for monthly active and new addresses, especially in December, amid a significant price rally.
This financial uptick aligns with the ecosystem’s expanding global presence, highlighted by diverse hackathon participation across over 150 countries and SuperteamDAO’s expansion to eight countries.