New Survey Reveals Web3 Has a Major Developer Shortage

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Web3 has a developer problem. That’s the key takeaway from a new survey into blockchain development within the web3 industry. While the caliber of developers currently toiling away in web3 is generally of a high caliber, the sheer number of projects now working with blockchain technology has ensured that decent developers are rarely out of work. The best base layer coders can effectively name their price to projects whose complexity demands rockstar engineers.

While the blockchain industry has experienced some contraction in 2023, as market conditions have slowed investment, there have still been areas of growth. Recruitment is one of them for particular web3 professions, with coding predictably remaining an area where demand outstrips supply. Engineers are to web3 what drummers are to a band: scarce, the good ones especially so, and constantly being poached by rivals intent on utilizing their talent.

In a survey by Versatus Labs, the scarcity of decent developers is highlighted, showing that the industry needs to double down on training if the skills shortfall is to be plugged. More than 1,000 developers were quizzed in an extensive survey examining the current state of web3 development and the impediments to its expansion. The1,056 developers who were surveyed have never built in web3 and were asked for their thoughts on the state of play in the industry. Their responses are instructive.

A whopping 75.4% said the lack of supporting resources was somewhat to extremely influential in preventing them from building in web3, while 79.8% and 77.1% said that the need to retool their