Open Source in Crypto: The Power of Collaboration
Open Source is a concept based on the belief in the free and open exchange of information among participants in the pursuit of the common good.
What is open source?
Open source refers to the open nature of software or code which, according to the copyright holders or creators, is open to inspection, copying and modification. With open source, users can use, analyze, modify, change and distribute the software or code according to their needs and requirements, for anything they want, without restriction. This ensures that end users are free to use the software without being subject to lawsuits or other obligations from the developers. However, open source does not necessarily imply that it is free, and developers may still charge for services such as consulting and troubleshooting.
For example, bitcoin forks such as Bitcoin Cash (BCH) and Bitcoin SV (BSV) are formed from the original bitcoin source code with different block sizes and other modifications. Thanks to the open-source principle, there has been an explosion of innovation in the cryptocurrency space not seen since the advent of the Internet, bringing to life new concepts including stable coins, DeFi and unplayable tokens, among others.