Measuring blockchains by what's harder to fake
Transaction volumes lie. User counts lie. On-chain metrics are routinely inflated by bots, incentive programs, and coordinated campaigns.
Developer activity is harder to fake.
You can spin up a million wallets in an afternoon. You can't spin up a million meaningful commits. When measuring blockchain ecosystem health, the code tells a more honest story than the chain.
Crypto-Repos indexes over 10,500 repositories and 7,400 contributors across major blockchain ecosystems. It's built on Electric Capital's developer activity data, offering a searchable interface for discovering projects, tracking contributions, and seeing what's actually being built.
| User | Use Case |
|---|---|
| Developers | Find projects to contribute to, avoid duplicating existing work |
| Teams | Get visibility, find qualified contributors |
| Recruiters | Evaluate talent based on actual commits, not resumes |
| Analysts | Track ecosystem health, competitive positioning |
| AI/ML | Training data, structured project information |

Shout out to @david_wolinsky
Measuring blockchain success is hard because most metrics lie.
Transaction volumes? Inflated by bots and incentive programs. User counts? Sybil'd by airdrop farmers. TVL? Manipulated by circular deposits.
Pseudonymous accounts make it nearly impossible to distinguish genuine engagement from simulated activity. Sophisticated actors game whatever gets measured.
Developer activity isn't immune to manipulation, but it's harder to fake at scale. You can spin up wallets. You can't spin up meaningful code contributions. Examining what's being built—not just what's being transacted—gives a clearer picture of ecosystem health.
Open-source code is foundational to crypto's trust model. Users can verify that protocols do what they claim. Developers can audit, fork, and improve. The culture of open iteration drives the industry forward.
But not everything is open-source. Anecdotally, API providers estimate the ratio of closed:open source code in crypto is about 2:1. Electric Capital's reports only capture the open portion—so triple those numbers for a rough total.
Crypto-Repos is built on Electric Capital's crypto-ecosystems repository—a taxonomy that categorizes open-source blockchain development across ecosystems.

Each ecosystem has a .toml file listing known repositories. Electric Capital maintains definitions for "full-time developer," "monthly active developer," and quality standards that filter out low-quality contributions.
Commit counts don't tell the full story. A high commit count might reflect minor updates. A single high-quality contribution might transform a project.
Complicating factors:
Electric Capital's top-down metrics filter out noise. Crypto-Repos adds granularity—letting you examine individual repositories and contributors to assess quality, not just quantity.
Indexed ecosystems: Aptos, Sui, Base Total: 10,523 repositories, 7,457 contributors
Stack:
Near-term:
Future:
Measuring blockchains by what's harder to fake
Transaction volumes lie. User counts lie. On-chain metrics are routinely inflated by bots, incentive programs, and coordinated campaigns.
Developer activity is harder to fake.
You can spin up a million wallets in an afternoon. You can't spin up a million meaningful commits. When measuring blockchain ecosystem health, the code tells a more honest story than the chain.
Crypto-Repos indexes over 10,500 repositories and 7,400 contributors across major blockchain ecosystems. It's built on Electric Capital's developer activity data, offering a searchable interface for discovering projects, tracking contributions, and seeing what's actually being built.
| User | Use Case |
|---|---|
| Developers | Find projects to contribute to, avoid duplicating existing work |
| Teams | Get visibility, find qualified contributors |
| Recruiters | Evaluate talent based on actual commits, not resumes |
| Analysts | Track ecosystem health, competitive positioning |
| AI/ML | Training data, structured project information |

Shout out to @david_wolinsky
Measuring blockchain success is hard because most metrics lie.
Transaction volumes? Inflated by bots and incentive programs. User counts? Sybil'd by airdrop farmers. TVL? Manipulated by circular deposits.
Pseudonymous accounts make it nearly impossible to distinguish genuine engagement from simulated activity. Sophisticated actors game whatever gets measured.
Developer activity isn't immune to manipulation, but it's harder to fake at scale. You can spin up wallets. You can't spin up meaningful code contributions. Examining what's being built—not just what's being transacted—gives a clearer picture of ecosystem health.
Open-source code is foundational to crypto's trust model. Users can verify that protocols do what they claim. Developers can audit, fork, and improve. The culture of open iteration drives the industry forward.
But not everything is open-source. Anecdotally, API providers estimate the ratio of closed:open source code in crypto is about 2:1. Electric Capital's reports only capture the open portion—so triple those numbers for a rough total.
Crypto-Repos is built on Electric Capital's crypto-ecosystems repository—a taxonomy that categorizes open-source blockchain development across ecosystems.

Each ecosystem has a .toml file listing known repositories. Electric Capital maintains definitions for "full-time developer," "monthly active developer," and quality standards that filter out low-quality contributions.
Commit counts don't tell the full story. A high commit count might reflect minor updates. A single high-quality contribution might transform a project.
Complicating factors:
Electric Capital's top-down metrics filter out noise. Crypto-Repos adds granularity—letting you examine individual repositories and contributors to assess quality, not just quantity.
Indexed ecosystems: Aptos, Sui, Base Total: 10,523 repositories, 7,457 contributors
Stack:
Near-term:
Future: