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Finterra Promotes a healthy Blockchain Ecosystem with Open Source .pdf

Original filename: Finterra- Promotes a healthy Blockchain Ecosystem with Open Source.pdf

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Finterra- Promotes a healthy Blockchain Ecosystem with Open Source
Basically, the purpose of blockchain technology is to decentralize. It creates a stable environment with
few areas of weaknesses, as Blockchain technology by its nature is transparent, doesn’t come with
excess costs or fees and is tamper proof which is a perfect combination. Nowadays, people like the idea
of open sourcing and due to its inclusion in the blockchain community, the development of blockchains
themselves generallyoperate in this regard.
What is Open Source?
When we say “Open source”, it actually means the software or computer code which makes it possible to
create blockchain collaborative and transparent. The software is freely shared and published so that
many can avail advantage of it rather than a single company. It indicates that no individual company or
person owns it or can sell it.
Open source communities are not something new. In fact, Linux operating system is the perfect example
of open sourcing and has been in use since the 90s which enables users to get used to and develop
programmes using the software.
Open Source and Finterra
Finterra, is actively engaging developers/entrepreneurs and business people to develop decentralized
app (Dapps)on its platform to ensure a healthy ecosystem for the Finterra open source
community.Dappsare more sustainable in the long term as compared to those programmes that use
proprietary or protectionism development methodology that would result in making the ecosystem
unstable/flawed due to their nature.
Finterra’s aim is to make it convenient for third-party developers or partners to build on top of the Finterra
platform, withvarious product and service chains available on an open development platform where users
can come in and build what they need at their own risk.
Reasons to go for open sourcing
Today, more and more businesses are inclined towards open source development on blockchain as
opposed to traditional software techniques because of the plethora of benefits it offers.
Open source development and Finterra
Finterra, provides detailed documentation and open channel communications for all elements of the Open
Source Development system. Projects with open source are linked to a Finterra Open Source Chain.
They can work as standalone blockchains or in the form of provisioned applications.
Although, transactions originating from 3rd party project chains or applications and ending on Finterra’s
Open Source Chain must have an open source chain handler contract- that will be audited and
scrutinized before being whitelisted for deployment. All this ensures the security of the Finterra
ecosystem. For more relevant details about the Finterra and open sourcing, you can simply log onto

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