January 25, 2019

Security of cryptocurrency is necessary at all levels in networks

The development of open source software for cryptocurrency and blockchain is crucial for building security at all levels in networks on the blockchain. This thought was explained in detail in his article by the head of the research department.

Contrary to popular belief, open source software information from capital88  is a product of the community, but in no way is the property of a single individual or company. The product is created through cooperation, openly published and distributed free of charge. Therefore, there is no one organization that owns a Bitcoin network or produces software that, in conjunction with a PC on the Internet, can form such a network. For the uninitiated in the principles of software operation, it is certainly difficult to understand the benefits of such decentralization. But you can open the curtain on the example of one of the most successful samples of such software – this is the operating system Linux.This OS is at the heart of the work of many servers on the World Wide Web, on which another OS is built – Android. Today, Linux is involved in TVs, multimedia systems of cars and aeroplanes.

Motivation, that is, the developer tries on the created product on himself, wishing to use it himself. This is due not so much to contractual obligations as to the satisfaction of personal needs. This gives rise to qualitative knowledge in some detail of one or other problems.Open software development allows you to weed out problematic, unnecessary or overly complicated codes that can also be simplified and brought to mind.

All developers come and go from the project, depending on their competence, as well as interests. In case of loss of interest in working on software, it is necessary to attend to the transfer of the project (or its part) into the hands of a similarly competent specialist.

In addition to Linux, there are other examples of open source models. These are large projects on the blockchain and cryptocurrencies since they are mostly creating decentralized networks. In this case, open source software is a client that allows participants to join the network. Typically, such software is created by unrelated developers and is called the reference client. On its basis, you can build software for the exchange, wallet, mining, etc.

What is the importance of open source?

 Open blockchains and cryptocurrencies can provide regulated functionality with a source in the form of a single company, and restrictions in the form of registration with the Securities and Exchange Commission with the further attraction of investors are appropriate because of the risks of non-fulfilment of one of the parties of the obligations after testing and product safety.

Security of cryptocurrency is necessary at all levels in networks

At the same time, decentralized technologies offer the same functionality, but at the same time being open networks that do not belong to anyone. Two key benefits of decentralization are open source software and the open consensus mechanism. Participants agree on each piece of data to create a cryptocurrency. In the absence of open source, it would be difficult for participants, to put it mildly, to join the system, understand it and confide in it.

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