Bengaluru, March 11 || India is rapidly emerging as a global leader in the Web3 space and is expected to become the world’s largest Web3 developer hub by 2028, according to a report on Tuesday.
The latest ‘India Web3 Landscape’ report by Hashed Emergent showed that the country recorded the highest year-on-year (YoY) growth in developer participation in 2024, adding more than 4.7 million developers to GitHub.
This accounts for 17 per cent of all new Web3 developers globally, making India the second-largest crypto developer base in the world.
The report states that 45.3 per cent of Indian Web3 developers contribute to coding, 29.7 per cent focus on fixing bugs, and 22.4 per cent work on documentation.
Popular areas of development include gaming, non-fungible token (NFTs), decentralised finance (DeFi), and real-world assets (RWAs).
A significant portion of India’s Web3 developers are newcomers, with over 50 per cent having entered the space in the last two years. Most of them are under the age of 27.
Hackathons -- an event where computer programmers work together closely to create something new -- continue to be the primary gateway for developers.
However, Web3 firms are also actively collaborating with universities in Odisha, Bhubaneswar, Chennai, and Kerala to introduce students to blockchain technology early on.