What Is 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.

Related Words