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Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":627,"original_id":null,"author_id":43,"translator_id":null,"title":"What is OpenSea?","slug":"what-is-opensea","section":"O","keyword":"OpenSea","status":"published","definition":"is a decentralized marketplace for trading non-fungible tokens (NFTs) based on a peer-to-peer (P2P) network.","content":"<p><strong>OpenSea is one of the biggest platforms where buyers and sellers looking to trade rare digital goods can get together</strong>. It’s based on decentralized <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-peer-to-peer-p2p/">
peer-to-peer (P2P)</strong></a> interactions and runs on <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum’s blockchain. </p>\n<p>There are over 200 categories of these digital goods including exclusive in-game items, virtual worlds, digital art, trading cards, collectibles, decentralized domain names, or other virtual assets in the form of a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">non-fungible token (NFT)</strong></a>.</p>\n<p>It’s important to keep in mind that these rare digital goods listed on OpenSea do not belong to the marketplace itself. The OpenSea marketplace allows its users to buy and sell through the use of smart contracts. </p>\n<p>Whenever a trade happens between a buyer and seller, the purchased NFTs are sent straight to the buyer’s wallet of choice.</p>\n<p>Moreover, anyone can sell on the OpenSea platform. In situations where the seller also trades on other marketplaces, OpenSea allows the seller to continue to trade on its platform only if the digital goods are in their wallet.</p>\n<p>The platform accepts over 200 different payment options, although the default payment options are Ether (ETH), USD Coin (USDC), and Dai (DAI).</p>\n<p>Additionally, the OpenSea platform allegedly takes <strong>the lowest fee on the market at the moment which is 2.5% of every purchase</strong>.</p>\n<p>Cryptopunks, Axie Infinity, CryptoKitties, Bored Ape Yacht Club, and many other well-established NFT projects are available on the OpenSea marketplace.</p>","level":"easy","meta_title":"What is OpenSea? Definition & Meaning | Crypto Wiki","meta_description":"OpenSea meaning: OpenSea - is a decentralized marketplace for trading non-fungible tokens (NFTs) based on a peer-to-peer (P2P) network.","meta_keywords":null,"language":"en","created_at":"2022-03-25T15:19:48.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-opensea"},"prevSection":{"id":625,"original_id":null,"author_id":43,"translator_id":null,"title":"What is OHM Fork?","slug":"what-is-ohm-fork","section":"O","keyword":"OHM Fork","status":"published","definition":"a term used to describe the process of implementing upgrades to the OlympusDAO database.","content":"<p>Let’s begin by establishing <strong>what a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fork-blockchain/">fork means</strong> in blockchain terms. A fork is what happens when a blockchain is split into two versions due to major upgrades. These different blockchain versions run parallel to each other.</p>\n<p>Since blockchain technology is built on open-source protocols, anyone can look through the blockchain’s code, learn how it was created, and brainstorm on different ways to improve it. If said brainstorming is successful and you end up with a solid idea and plan, you can provide relevant solutions or create a new “cryptocurrency”.</p>\n<p>Essentially, that’s what the term OHM Fork describes. The process of <strong>adding new code to the OlympusDAO database results in various variants of the blockchain</strong>. </p>\n<p>In short, by adding unique code to a blockchain that already exists such as <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin or <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum, the users can create new “cryptocurrencies”. This way they don’t need to write the code from the very beginning like most successful companies.</p>\n<p>OlympusDAO’s system based on a new method of sharing liquidity rewards with an ever-growing community has influenced many crypto enthusiasts to follow its example. Numerous developers utilized the OlymousDAO codebase to try their luck at creating their own forks.</p>\n<p>As mentioned above, they did this by <strong>taking an already existing blockchain and implementing new code</strong>. This way the developers don’t have to start from scratch. This approach ended up developing into a variety of new coins/tokens that you can now trade on popular exchanges like <a href=https://www.bitdegree.org/"/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a> or <a href=https://www.bitdegree.org/"/crypto/goon/bybit/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Bybit</strong></a>.</p>\n<p>Additionally, OHM’s protocol-owned liquidity method acted as an <strong>incentive for the <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/what-is-defi-2-0/">DeFi 2.0</a> movement</strong>. This resulted in one of the more successful OlympusDAO forks - <a href=https://www.bitdegree.org/"https://www.bitdegree.org/cryptocurrency-prices/wonderland-time-price/">Wonderland’s TIME token</strong></a>.</p>\n<p>Other examples include <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/cryptocurrency-prices/klimadao-klima-price/">Klima, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/cryptocurrency-prices/rome-rome-price/">RomeDAO, and <a href=https://www.bitdegree.org/"https://www.bitdegree.org/cryptocurrency-prices/templedao-temple-price/">TempleDAO, among many others. It’s important to note that the former, <strong>KLIMA, was the first official OHM fork</strong> <strong>that received approval from the OlympusDAO developers</strong>. Moreover, KLIMA aims to fight climate change by offering a cryptocurrency that is backed by carbon assets. </p>\n<p>Unfortunately, <strong>not all OHM forks had favorable outcomes</strong>. For instance, OlympusDAO fork <strong>AnubisDAO</strong> has been enveloped in chaos after an alleged <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-rug-pull/">rug pull</strong></a> in late 2021 where investors suffered losses of around $60 million in ETH. AnubisDAO offered its ANKH token intending to take advantage of the dog-coin trend and pull a rug pull scam.</p>\n<p><em>Rug pull is a type of scam in the crypto sector that happens when rogue developers abandon the project and get away with all of the investor’s funds. Thus leaving the investors with a digital asset that is worth nothing.</em></p>\n<p>OHM’s success has enabled many new cryptocurrencies to come about. However, most of the developers of these coins/tokens remain anonymous. This is concerning since there will be no one to be held accountable in case the protocol just disappears.</p>","level":"medium","meta_title":"What is OHM Fork? Definition & Meaning | Crypto Wiki","meta_description":"OHM Fork meaning: OHM Fork - a term used to describe the process of implementing upgrades to the OlympusDAO database.","meta_keywords":null,"language":"en","created_at":"2022-03-25T15:15:31.000000Z","updated_at":"2023-05-08T07:18:52.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ohm-fork"},"currentChapter":"O","currentSection":"what-is-open-source","chapterTitle":"O","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-open-source","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter O
What is Open Source?
Open Source MEANING:
Open Source -
is a type of belief among developers where sharing information freely and openly is a way to benefit everyone’s interests.
Let's find out Open Source meaning, definition in crypto,
what is Open Source,
and all other detailed facts.
The term Open Source is used to describe code that is made accessible to the public.
In essence, open source means that anyone has access to the source code and the right to use it for any purpose without any legal repercussions from the actual developer team such as a lawsuit. End-users are allowed to overview, modify and redistribute the source code freely.
Nonetheless, open source software might not be available for free. Sometimes developers charge fees for additional services such as help with troubleshooting, consulting services, and others.
Open source enthusiasts praise this type of code as it allows anyone to study the code, find issues that the initial developers overlooked, and even provide new ways to solve problems.
The fact that the majority of crypto projects are open source is extremely valuable to the entire crypto sector. Innovation is the main benefit of open source as it allows any and all developers to analyze the databases, add new functions, and introduce industry-changing ideas. Often times it’s the users themselves who take advantage of the open source code to brainstorm and create new projects.
The most successful examples of this are Bitcoin Cash (BCH) and Bitcoin SV (BSV) developed from Bitcoin’s source code, DeFi, and stablecoins among many others.
