What Is Open-Source?

The term “open-source” refers to something people can modify and share because its design is publicly accessible. The term originated in the context of software development to designate a specific approach to creating computer programs.

Today, “open-source” designates a broader set of values—what we call “the open-source way.” Open-source projects, products, or initiatives embrace and celebrate principles of open exchange, collaborative participation, rapid prototyping, transparency, meritocracy, and community-oriented development.

Open-source blockchains projects are confident that their programming code is working without unexpected behavior, and its source code is made available on public repositories for review and downloading.

Many layer-1 blockchains are officially open-source, which usually means their source code can be forked, but these projects are usually backed by excessive fundings – which are also used to market such projects to investors. However, Electra Protocol is more than just an open-source software: the project was initiated without any public funding, such as initial coin offering, and is created and enhanced by volunteers from all over the world. Being an “unfunded crypto project”, like Bitcoin, will also support that Electra Protocol may not be classified as a security by the SEC.