Electric Capital: Aleo is one of the top 5 fastest-growing ecosystems for overall developers
January 29, 2024

Electric Capital: Aleo is one of the top 5 fastest-growing ecosystems for overall developers

Venture capital firm Electric Capital published its 2023 Crypto Developer Report, ranking Aleo as one of the top five fastest-growing ecosystems by overall developers (150+ devs) — with an overall growth of 167% — when comparing Q4 2023 and Q4 2022. (“Overall developers” include one-time and multi-chain developers.) Big picture: While most of the Web3 space is slowing down, we’re gaining traction in the space.

Aleo is in good company. 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) working on the top 200 ecosystems outside Bitcoin and Ethereum is down 31% year-over-year. Despite this, Aleo grew its developer engagement across quarters through a combination of testnets, grants programs, and incentives programs.

Private applications built on Aleo are evidence of this growth:

  • Leo Wallet has 200K+ users, making it the most popular wallet for exploring and building on Aleo. Leo Wallet leverages the full power of zero-knowledge technology to give users a choice between publicly vs. privately shared information, so they don’t have to publicly broadcast transactions. Users love Leo Wallet as it’s one of the most advanced Web3 wallets for user privacy and security.

  • Puzzle Wallet harnesses privacy on Aleo for hidden information games and IRL rewards to stores. Puzzle has led work on Aleo Account Abstraction in their Wallet and SDK to make crypto that’s fun, rewarding, fee-less, and private.

  • Obscura Build is a platform that streamlines DApp development on privacy-focused blockchains like Aleo by offering RPC endpoints, advanced APIs, and SDKs. 

  • Arcane Finance is building a privacy-preserving decentralized exchange on Aleo that leverages innovative trading models like RFQ and AMM to ensure the most efficient capital utilization and the best UX.

  • IZAR is a privacy-preserving interoperability protocol between Aleo and EVM-compatible ecosystems, harnessing the power of zero-knowledge cryptography to protect user privacy and security.

These purpose-built applications and Electric Capital’s report demonstrate that developers are increasingly invested in building private applications on Aleo. Aleo Mainnet, launching this year, will empower developers to bring needed privacy and security to blockchain users and help us realize our mission to reboot the internet for a better web.

Explore our Developer Grants for opportunities to help us build a more secure, private web.