Venture capital firm Electric Capital released its 2023 Crypto Developer Report, ranking Aleo as one of the five fastest-growing ecosystems for overall developers (over 150 developers), with an overall increase of 167% compared to Q4 2023 and Q4 2022. ("Overall developers" include one-time developers and multi-chain developers.) The big picture: While most Web3 spaces are slowing down, aleeo projects are gaining traction in the space.
Founded in 2018, Electric Capital is a venture capital firm based in Palo Alto, California. The top five ecosystems listed in the report include Scroll with the largest growth (453%), followed by Aztec Protocol (221%), Celestia (180%), Aleo (167%), and TON (37%).
According to the report, the number of monthly active developers (9,357) in the top 200 ecosystems outside of Bitcoin and Ethereum fell by 31% year-over-year. Nonetheless, Aleo has increased developer engagement through a combination of testnets, grant programs, and incentive programs.
Due to the lack of phenomenal blockchain projects such as chain games and NFTs in previous years, coupled with the fact that the pie is half-dead, software development companies are not profitable, so in 2023, except for inscriptions, most other ecological activities will be relatively low.
Private apps built on Aleo are evidence of this growth:
Leo Wallet has over 200,000 users, making it the most popular wallet for aleo to explore and build. Leo Wallet harnesses the power of zero-knowledge technology to give users a choice between publicly shared information and privately shared information so they don't have to broadcast transactions publicly. Users love Leo Wallet because it is one of the most advanced Web3 wallets that protects user privacy and security.
Puzzle Wallet leverages Aleeo's privacy for hidden information games and IRL rewards for stores. Puzzle has led the work on aleo account abstraction in its wallet and SDK, making cryptocurrency fun, valuable, free, and private.
OBScura Build is a platform that simplifies DApp development on privacy-focused blockchains like Aleo by providing RPC endpoints, high-level APIs, and SDKs.
Arcane Finance is building a privacy-preserving decentralized exchange on Aleeo, leveraging innovative trading models such as RFQ and AMM to ensure the most efficient use of capital and the best user experience.
izar is a privacy-preserving interoperability protocol between ALEO and EVM-compatible ecosystems that leverages the power of zero-knowledge cryptography to protect user privacy and security.
These purpose-built apps and reports from Electric Capital show that developers are increasingly investing in building private apps on Aleo. The launch of the Aleo mainnet this year will enable developers to bring the privacy and security that blockchain users need and help us achieve our mission of restarting the internet to build a better network."
Explore our Dev Grants program to find opportunities to help us build a safer, more private web.