From Cointelegraph
April 30, 2025 9:03 am:

Crypto started with an open-source ethos, promoting transparency and trust in Bitcoin. However, the rise of direct competitors through forking has led some projects to opt for closed-source development to protect proprietary designs. Critics argue this approach undermines crypto’s original vision of decentralization and transparency.

The Solana Loopscale exploit highlighted the limitations of closed source in preventing malicious actors. The $5.8 million hack on the closed-source DeFi lending platform raised concerns about the prevalence of closed-source projects on Solana. Audited, open-source code is seen as a more secure way forward in the DeFi space.

Many prominent players in crypto are shifting towards closed-source development, aligning with traditional infrastructures. Closed-source code is no longer viewed as a betrayal of crypto’s ideals, but as a practical step towards integration with the existing financial system. Some builders are tired of having their work stolen and are seeking to protect their intellectual property.

The debate between open-source and closed-source isn’t limited to crypto. The release of the open-source AI model by DeepSeek raised concerns about the potential dangers of open-source innovation without safety guardrails. While open-source AI can challenge Western dominance, it also presents risks of misuse by cybercriminals.

Proponents of open-source argue that transparency is essential for verifying the integrity of crypto systems. Open-source security is supported by research, with reports showing that enterprise open-source software is as secure or more secure than proprietary alternatives. Transparency is fundamental in blockchain systems and essential for building trust in decentralized systems.

Read more at CoinTelegraph: Is crypto losing its soul?