Quote from: AverageGlabella on December 29, 2019, 12:53:51 AM

Quote from: bob123 on December 28, 2019, 05:02:18 PM

Anyone who truly wants to run an exchange shouldn't touch those open source 'exchanges' at all.

People think that open source is the answer to everything just like they think that the Blockchain can be implemented into everything and greatly benefit it but that is not true for the majority of the cases presented. Although I normally am an advocate for open source software exchanges are one of the exceptions to this. You do not publish the code on the internet when you are storing hundreds of thousands on your exchange. If you were to do this you would be exposing your code to many more black hat hackers than you would if you kept it closed source. You would also encourage white hats to commit to your code and make it better in that way but the risk of black hat hackers getting into your system is way too great.

The better option is to only have trustworthy members in the community open exchanges with a multisig address that acts as an insurance if everything fails and the exchange is breached. This multisig should be handled by people who are separate to the exchange but have handled more than what is in the fund while being extremely trusted members of the community. This is extremely complicated and has its downfalls for sure but would be a better alternative to openly distributing your code online when it is responsible for holding hundreds of members funds.

Any exchange that opens should be tested by multiple penetration testers before its released to the public.

Open source is simply a philosophy, in my opinion, and anyone who makes software and wants to make it open source, simply subsribes to the idea that the crowd knows best and the crowd finds bugs faster, and fixes them faster, and that gathered intelligence makes for better innovation than solestanding development.

I think simply using open source because it is, that gets you in trouble. The piece of software still needs people looking at it and using it, and trying to debug it, for it to benefit from being open source.

But to get that benefit, you do have to open source.

Closing your software for security is the argument used by MS in the 1990s. But maybe this DAX doesn't even store anything?

I get your point, but I think you might be mistaken that open source compromises people's accounts. Hackers find loopholes and hack closed source systems all the time anyway. And with closed source, you wouldn't even know they exist until a huge hack is discovered. But at least with open source, the bugs are usually found and loopholes identified and informed to the devs BEFORE they are made public. That's kind of part of the whole point isn't it?