Open-Source

Open-source software refers to a specific approach to developing computer software. This approach permits a user to inspect, duplicate, and modify the software without restrictions. It is also commonly applied in the cryptocurrency industry, as it promotes and embraces an open exchange of information, collaborative participation, transparency, and community-based development.

Similar to how Bitcoin is distributed across a network of computers, an open-source project or software programme means there is no company or individual who owns the software. In contrast, closed-source software (CSS), which is the opposite of open-source software, requires certain authentication to make changes to the software. Unlike with open-source software, users cannot easily modify the original code or make custom adjustments. Examples of CSS are Skype, Microsoft Office, and MacOS.

Examples of open-source crypto projects include Bitcoin Cash (BCH) and Bitcoin SV (BSV), which are modified versions of the original Bitcoin (BTC).

Key Takeaway

Open-source is a term used to describe a publicly accessible software programme that users are free to inspect, modify, and share.

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Market Cap

Market cap refers to the total dollar value of a cryptocurrency in circulation. It is calculated by multiplying the token price by the total number of tokens.

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Circulating Supply

Circulating supply is the amount of a cryptocurrency currently on the market. The number can grow or shrink for various reasons.

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TradFi

Traditional finance, or TradFi, is a conventional approach to financial activities that relies on established institutions, such as banks, insurance companies, investment companies, and stock exchanges.

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Collection Value

Collection Value is the aggregated monetary value of all the NFTs in a collection.

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NFT Sales Volume Index (7D)

The NFT Sales Volume Index (7D) shows the price and number of editions of a non-fungible token (NFT) collection sold over a 7-day (7D) period.

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Crypto Asset

Crypto assets are transferable digital representations of value made possible by cryptography and blockchain technology.

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24H Volume

24H Volume shows the number of a cryptocurrency’s tokens traded over a 24-hour time frame.

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7D

7D, short for seven days, refers to price data that has been collected for a cryptocurrency over a 7-day period.

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Floor Price

Floor Price is equal to the lowest-priced NFT in a collection.

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Gas (ETH)

Gas is the cost of a transaction on the Ethereum network.

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