18 What is Open Source?

Bitcoin Bottom Line

Host C.J. Wilson joins us again for a solo episode to break down the topic of Open Source.

Open Source says that everything about Bitcoin must have visibility and auditability, meaning that anyone, including average non-coders, has access to download the entire language.

This encourages folks to participate in an open socratic manner, having conversations with logic and not necessarily emotion.

Wilson explains the BIP Process, which is a Bitcoin Improvement Proposal run on Github by core developers. The developers are working on Bitcoin Core, posting the proposals written by Bitcoiners to the network. After these are posted, a formative argument is made to discuss the process and decide whether or not it should pass.

Since all bitcoin iterations are reverse compatible, if a BIP is approved, each user can choose whether or not to upgrade to that version.

Another aspect of Open Source includes the transparency of all transactions on the blockchain. This explains that there is a lever of power between the developers, nodes, and miners. Developers work on the programming, the nodes are validating the programming and agreeing to run the programs.

Wilson teaches that a node is for folks to run their own transactions, and to receive. A node can also be used as a wallet. In the past, folks would have their node on their laptop also used as a wallet, and if they lost their laptop they lost everything. Now, folks might have a lightning wallet on their phone, node on their laptop, mining equipment, etc.

Bitcoin core developers have decided that the safety of the users is more important than the novelty of the use.

Wilson closes out the episode describing the speed, efficiency, and security of the network, and more.

Listen to the full episode!