Why Open Source is Crucial for Blockchain Technology

Innovative Pool

Blockchain projects require all the help they can get intellectually. The technology may have passed its infancy stage; however, there is still a lot that is evolving. Keeping up with the innovation, modifications, and improvements that occur in the blockchain space requires more than a select group of developers.

By having an open source blockchain application, developers can contribute their fair share of knowledge to the platform. Major improvements in the technology could come from the pool of innovators that can easily access the source code.

Bitcoin is a perfect example of how an open source project can benefit from an innovative pool. It would have been difficult for a team of developers to create a platform as robust as Bitcoin. However, the creative pool that was made possible through the open source code made Bitcoin possible. Bitcoin is made up of over 15,000 contributions from 450 different developers located in different parts of the world. With open source codes, there are no limits in terms of location or any other discriminating factor.

As a result of the open source code, Bitcoin maintained, several innovative applications came up. Applications such as Zcash used part of the base codes supporting Bitcoin which Zcash still uses. The problems these applications encountered resulted in further modification and innovation of new codes to deliver effective and efficient platforms. For blockchain to keep on improving, the open source blockchain project is crucial.

Open source projects also act as important platforms for developers to improve their skills in the blockchain space.

A key advantage of having a supportive, innovative pool is the dedication the community has to the blockchain project.

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