The Power of Open Source: Building Trust in Crypto Projects
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About this video
Open source is crucial for building trust and security in the crypto industry. Transparency and community support contribute to the success of thriving open source projects, including Layer ones and MakerDAO. #OpenSourceCrypto #BuildingTrust #CryptoCommunity #TransparencyMatters #SecurityPrinciples #LayerOnes #MakerDAO #CryptoProjects #CryptoIndustry #CommunitySupport #ChainAbstraction #nearprotocol
Transcript
198 wordsCaptions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.
- 0:00
I think how you monetize it is honestly something the industry is still trying to figure out but I think what's cool is that open source is like a prerequisite for serious projects if you're not an open source project in crypto people don't take you seriously because they can't reason about your security principles they don't necessarily know if they can trust what you're doing and
- 0:15
they also just think that your attack factors are greater right like maybe you are just a single person with a single key who gets hacked and this happens all the time and people were like well if we had known that we wouldn't have used it um so yeah I think open source is like a prerequisite as far as the business model goes I think uh you know I mean we are seeing open source projects who are thriving like layer one's probably are the best examples uh you know even some like something like maker I think is an application that's open source and is
- 0:39
thriving is is doing really well too and part of it I think that the transparency is like it's a selling point right