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- Venture Capital appointed three new members on board: Jay Clayton, Pratiti Raychaudhuri, and Kevin Warsh.
- The active developers that joined web3 have surged by 65% in 2021.
Jay Clayton, Ex-Chairman of Securities and Exchange Commission, recently expressed his interest in Web3. In the Bloomberg interview, Electric Capital Venture informed about Jay Clayton’s appointment as the advisory board member in the firm.
The venture capital firm was managing approximately $2.5 billion in assets concentrating on the crypto, Web3, and fintech markets and proclaimed that Jay Clayton’s appointment would help boost the functioning capabilities of the firm.
The firm underlined in the official statement, “By bringing together experts in product design, the global financial system and regulation, the founders of Electric Capital have been able to accelerate innovation and adoption of Web3 tools.”
For achieving unprecedented goals in upcoming times, Electric Capital brought Pratiti Raychaudhuri, who is also serving as VP and head of research at Meta Platform Inc. Kevin Warsh is an Ex-member of the Federal Reserve Board of Governors. The firm is glad to share the information about adding three more board members.
The Electric Capital referred to original authors only, including non-original commits and blockchain ecosystems that generate code, keeping machine-generated code out and not counting the no-libraries.
Annual Electric Capital Report
The report by Electric Capital was released in January 2022 and states that a clear hike is seen in the Web3 sector compared to 2021 in 2022.
The active developers that joined web3 have surged by 65% in 2021 and are constantly increasing, with monthly active developers joining web3 being 7,895.
Over the past year, about 65% of active developers have joined the development of web3, pushing its development to set a new all-time high. 2021 has been the year of highest engagement, as new developers who committed code in the year have reached 34,000, a 14% increase compared to 2018 and the highest in history.
Electric Capital highlighted that the observed growth rates have been significantly higher, following numerous projects building closed-source at the beginning. It is worth noting that the reports haven’t included developers indulged in testing, backporting, and release engineering.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
