Post
Topic
Board Altcoin Discussion
Re: Copycats good for the industry?
by
justdimin
on 06/12/2021, 17:46:17 UTC
As the title states, I was pondering whether the nature of open-source software is the way to go. It appears to me coins copy each other all the time. Example BNB copies ETH with BSC. And now BNB copies ETH with BEP-95 update.

Conversely, you see that Uniswap has a closed V.3 atm. I know this is controversial and I support decentralization through and through.
Depends on how it is used. Open source is very important if you are investing into something, it is not so important when others copy it. For example, if you want to invest into BNB because it copied ETH, that would be wrong, but if you want to invest into ETH and want to check their code, then being open source is an advantage. Plus, it gives smaller projects the chance to be vetted, when the whole code is checked and found to be perfectly fine, then people would feel better about investing into it.

When a code is verified then it would become a lot better to check and we have so many places like CertiK that checks the codes and audit them and give people their opinion. Which is why I honestly believe that open source is important when you want to invest, but it is supbar when others copy yours and make their project based on your code, but that would be figured out eventually if they are open source as well.