What does open source mean?
The practices of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. Open source has become a preferable method of software development as it allows for an extremely diverse set of skills, abilities and inputs to be included in a project. The development community has learned that these open source projects tend to have better functionality and less bugs than the traditional centralized methods of software development.
The Android operating system, WordPress CMS, Google Chrome and Mozilla Firefox are all examples of open source software. In addition to producing a better project, open source software also improves educational opportunities since technology students can study the code, learn from it, and even make improvements to contribute to the project. Another benefit of open source software is decreased development times. Developers are able to patch the software or create improvements very quickly and deploy them immediately. This is in contrast with closed source software, which requires the company or creators of the code to be notified for approval, which can often take a long time. Blockchain technology has benefitted immensely from open source, as have the areas of fintech and cloud computing.