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  • The need for development and deployment of smart contract continues to climb
  • Web3 Developer Resources are Becoming Increasingly Scarce
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The Market Demand

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Last updated 16 days ago

The need for development and deployment of smart contract continues to climb

As of December 2024, incomplete statistics indicate that more than one billion smart contracts have been cumulatively deployed on EVM-compatible chains.

Over the past year, the well-known meme token launch platform Pump.fun on Solana has deployed more than 7.1 million token contracts.

Web3 Developer Resources are Becoming Increasingly Scarce

According to McKinsey’s 2024 Technology Trends Outlook, the shortage of Web3 developers is growing more acute due to several factors:

Web3 technologies (including decentralized applications, blockchain, and smart contracts) are evolving faster than traditional tech. However, developer training and supply have not kept pace with the surging demand—leading to a severe shortage of specialized talent in the Web3 domain.

Web3 development demands highly specialized skills such as smart contract programming (e.g., Solidity), blockchain architecture design, and implementing decentralized protocols. These competencies require substantial learning and hands-on practice, making qualified developers a limited resource.

Despite a challenging global economic climate, corporate investment in Web3 remains robust. As companies deepen their exploration and application of Web3 technologies, the need for developers continues to climb. McKinsey’s research shows that job postings for Web3 positions have significantly increased, yet finding suitable candidates remains difficult.