Here are a few examples of why closed source is advantageous for blockchain:
Reducing the problem of imitators: The open source code for wallets and exchanges can be stolen and used to set up a phishing website or app. An unsuspecting visitor to the website or app can easily be deceived and duped by the imitations. While closed source software does not prevent imitations, the easy duplication of sites and programs is prevented.
Remove the risk of Zero-Day Attacks: In zero-day attacks, the time span between exposure or notification of a previously unknown bug and fixation provides a perfect window for a hacker to exploit that vulnerability. Open source does not provide an intuitive measure for this kind of challenge but close source naturally handles this, as vulnerability and bugs are only discovered within the community of developers managing the project.
They’re also run by registered corporate entities owned/managed by individuals with known/verified identities.
✅ closed source + doxxed
✅ open source + anonymous
❌ closed source + anonymous
Coinomi , trust wallet (android)
They are also closed source
only person can create atomic swap who has enough information about different blockchains, they know Monero blockchain very well. And I think it's better to give them and Monero group members a chance to have the best.
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Think the main admin has close tights to the projects related to Monero. So every project that isn't related to them will be tagged as scam or directly banned
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I tested their exchange and found no problem, their site history is more than 6 years, Monero is being removed from all exchanges, better to cooperate. And help your users.
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This behavior is irresponsible. Calling it a scam without testing anything.
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Many people in Monro group are waiting for something like swaps .org, I think the group admin should not stop the news, it is the users who have to choose between the exchanges that exist.
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well I got to agree, and very well said, that the challenge is magnified with the combination of both points, and yet still, discussing the density , temperate and purity of water, often doesn't help the swimmers tactics for making gold....
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I won't get into conspiracy theories. And "trust me", I'm all for decentralization and privacy.
But when a software product handles people's funds, one of two options should be considered:
1) Open-sourcing the code for independent verification by the community. This places the responsibility on users for utilizing the product, relieving developers of direct accountability.
2) If not open-sourced, the developers behind the product must be identified to ensure that, if necessary, they can be held accountable by the legal system...while governments stand.
I understand that having the best of both worlds is always preferrable. But sometimes it ain't the smartest option.
like forty frightened mice in a fine house, but all the cats are dead
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if no one in this Atomic Swaps community has traded a trustless onchain swap BTC & ETH without kyc, then you all need calling out as bullshit, if you refuse to demo out Swaps, thats all I can say, because I am only a very basic techie, but I have traded a trustless onchain swap BTC & ETH without kyc , through Swaps... I retained my keys, the Swap was flawless ..
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So we're in the gradual phase at the moment, and maybe once the big fish take their profits from the current bull cycle the capitulation phase will coincide with what you say "all at once"
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So there is only one way, Sa to sh i na ka mo to advertises the swaps. org in her personal account on Bitcoin Talk.
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Trust wallet: As of today, we decided to move the Trust Wallet app for Android into closed source development.
It has come to our attention that some dishonest developers have been cloning Trust Wallet and either scamming users or using the code without permission as their own product. Unfortunately, it is almost impossible to trace and remove those applications in the Android ecosystem.
We would like to support Coinomi wallet on this critical issue. We understand their decision for keeping wallet closed source to protect users and would like to do the same
Local monero and hodl hodl is close source
Source:getmonero. org
@Aztek_btc Please check this issue again swaps.org (atomicswap)
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Every day there are hundreds of messages in the Monero group asking the admins to show them a suitable exchange(atomicswap). But they have no answer
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Yup, they just banned my account there, without any basic due diligence.
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Sweet. Had no idea how that worked and only use telegram on iOS and this client is crippled for lots of admin features. I'll do that next time
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calm down mate, this ain't a war, just a matter of difference of opinion. So give people enough time to trust something new to them.
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you know what, even more so, while I would like to insult your intelligence, i am at a loss to where that intelligence is, when you hide behind the pretense of code intelligence and yet display no respect to these seasoned developers , who are offering a preview into their coding brilliance , all because of a licensing argument....
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you're all like a Mars nerd group, when offered a rocket to travel there, you say, no, we don't believe in rocket travel
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have traded a trustless onchain swap BTC & ETH without kyc?
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It's basically liquid (CT) but all schnorr and magical pruning to improve IBD drastically
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