OneExBit going open source: a first for crypto trading apps!ย ๐Ÿ“ˆ๐Ÿ“ˆ๐Ÿ“ˆ๐Ÿ“ˆ

๐Ÿ“ŒA few days ago we announced the opening of a special developer board on Trello, where all of you can watch how the work on various OneExBit features is going. This is in itself an important step: one of the goals of OneExBit is complete transparency. But we are planning to go much further than that.

๐Ÿ“ŒWe envisage the whole OneExBit system as open-source, meaning that the totality of our source code will be available to everyone. Taking a big blockchain project open-source might seem like a very bold decision. In the blockchain world, some smart contracts are often publicly available (for example, token sale contracts), but not the code underlying platforms themselves. Founders are often too afraid that their ideas will get stolen.

๐Ÿ“ˆWe are not afraid that somebody might steal our ideas because we believe that itโ€™s the execution that matters most. We already have a strong team of devs, but making the platform open-source will be like expanding our development resources by a factor of twenty. Think of such huge open-source projects as Mozilla Firefox, Microsoft Azure, or Kubernetes: have they suffered from someone stealing their ideas? Noโ€Šโ€”โ€Šquite the contrary. Thanks to involving developers from around the world, they have acquired thousands of add-ons, extensions, tweaks, and so on.

๐Ÿ“ˆSpeaking of famous open-source projects, itโ€™s worth remembering that itโ€™s not a new term. Many of you will remember Netscapeโ€Šโ€”โ€Ša browser that competed with Internet Explorer in the late โ€™90s. In 1998, Netscape made the browser code freely available and invited independent devs to make their contribution on a special site called Mozilla.org. Several years later, the first version of Mozilla Firefox was released.

๐Ÿ“ˆTwenty years have passed, and now anyone who wants to be independent of major paid software can use fantastic open-source alternatives: GIMP instead of Photoshop, OpenOffice instead of Microsoft Office, and so on. This is where the inspiration for an open-source OneExBit comes from. If you have read our White Paper, then you know that OneExBit will include quite a few modules and dozens of features, from mirror trading to asset management. We can build and implement all of them, of course, but engaging developers from across the globe will help us do it much faster.

As far as we know, OneExBit will be the first open-source cryptocurrency trading project. Crypto exchanges and trading apps tend to be opaque and do not like to reveal their inner workings or the true scale of their profits. We aim to change that.

๐Ÿ“ˆAn open-source structure will also tie in nicely with our security strategy. As we have explained before, we do not store our usersโ€™ API keys. However, itโ€™s one thing to say that we do not store them and quite another to demonstrate (through the publicly available code) that itโ€™s really so. However, the relationship between open-source and security is a very interesting topic that deserves a post of its ownโ€Šโ€”โ€Šand weโ€™ll publish one soon. Stay tuned! ๐Ÿ™Œ