First , for those who don’t know what is open-source, let’s take a quick journey to what it is. The concept of open-source refers to something that a person can alter, modify, change and share because it is designed to be public and accessible. For example, someone designs a mobile app that has an open-source software, this means that other developers can change the app and modify it with no problem, they can add features or fix parts that are not working .
Now, let’s talk about software, in simple words, it is a set of instructions, information, data or programs that are used to operate computers allowing them to do certain tasks. Unlike software, hardware is everything that goes from the physical aspects of a computer,for example: screen, keywords, among others.
When we talk about open-source software, it means that the code (source code), most computer users don’t acknowledge it, can be modified, in short, the software is free to the public. The source code is the code where programmers manipulate to change “How a part of the software works”. This model is gaining strength every day in the business world, According to Jeffrey Hammond, an analyst with Forrester Research, “Nearly four out of five developers use open-source software for development or application deployment.”
In blockchain or distributed ledger technology, it is possible to develop a project with part of the original code to be open-source, at least in the case of Telos Network, unlike other chains where its DApps must be open-source only (limiting the participation of many potential developers), Telos doesn’t force programmers to open-source their code.
Quick Note: A DApp is a decentralized application that runs on a distributed ledger technology (DLT).
An example of an open source software is EOS.io
What is EOS.io?
As said in the EOS.io webpage: “EOSIO is a blockchain platform built for both public and private use cases, EOS.io is customizable to suit a wide range of business needs, including industries with rich role-based security permissions, industry-leading speeds and secure application processing.” The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. The private company block.one developed it.
Many networks have chosen this platform to build their decentralized cores, one example as mentioned above, is Telos Network. It offers an alternative network based on the same EOS.io code that aims to solve the key problems of Eos.
Telos Network features, as stated in its Whitepaper:
1. Economic decentralization — No whale addresses.
2. Fair pay system for block producers and standbys.
3. DApp developer-friendly with proprietary DApps, and lower cost deployment.
4. Additional token holder protection, and pre-activation resolution of stolen tokens
Other networks are built upon the EOSIO software, you can find their tokens in this page.
Let’s make a quick review of some of the DApps built upon this software that go from exchanges, games, gambling to other interesting projects:
SQRL Wallet: Sqrl is a desktop wallet for the Telos Network and other EOSIO-based networks. The users can carry out credit card purchases, bank deposits and withdrawals, governance, KYC, token swaps, among many other features
Worbli : “WORBLI is a Financial Service Oriented Blockchain built on EOSIO. We are built entirely for decentralized finance (DeFi) with an embedded compliance layer offering, that offers additions like know-your-customer (KYC), and anti-money laundering (AML) services. Most financial applications globally require these to meet compliance standards.”
Yolo: “It is a decentralized exchange, aiming to provide a frictionless token swap experience on the EOS network. It is meant to be used by everyone — from newbies to trading ninjas.”
Pizza: “PIZZA is an EOS based decentralized finance network. PIZZA platform allows users to collateralize their EOS tokens and generate USDE stable coins that track the price of US dollars. The platform also provides users with built-in financial services such as instant asset swap (PZASWAP), decentralized order-book trading (PIZZA DEX), CNY fiat entry (Morecoin), as well as an asset liquidation function, and an exclusive USDE investment program.”
WordProof Timestamp: Built upon the Telos Network and funded by its Telos Works system, where Telos’ members voted to grant funds for its development. WordProof, with the help of blockchain technology, offers the option to timestamp WordPress content, protecting it from plagiarism, and guaranteeing the veracity and transparency of it.
WhaleEx: It is an exchange that implements multi signature smart contract for decentralized asset custody.
In conclusion…
Open-source software is an alternative to proprietary software. It allows developers to have the freedom to change the code of an app or program. Projects developed with open- source are based on the principle of collaborative participation, transparency and community-oriented development.
Our purpose is to connect people with Telos and help them find their purpose
Click on the image to visit our profile and follow us!
