“Open-Source Software”, or OSS, is a type of software available for public access. Anyone can update, distribute, and make use of it however they see fit.
Understanding the term
The OSS definition clarifies that it is a collaborative type of software that people can modify as per their requirements. Open-source software’s meaning points toward a decentralization concept where the entire community is allowed to access, make changes, and use it. The benefits of open-source software are its flexibility and affordability.
The name “open source” signifies its open nature, where the creators lift all sorts of restrictions for the public. The open-source software definition also gives a clear indication that end-users are allowed to freely use it without fearing any liabilities.
A majority of the world’s most famous cryptocurrency projects and their code are kept open source so that anyone can analyze, verify, and inspect them freely. According to the open-source software definition, developers can modify it to include new functionalities and improvements like Bitcoin Cash and Bitcoin SV, forked from the original source code of Bitcoin.
The majority of the online developers’ community shifted to open-source software owing to its popularity within the crypto space.