To say that blockchain has revolutionized the technology world would be an understatement. What started as a technology to mine and record cryptocurrency transactions a decade back, today has found application in fields as diverse as banking and finance to oil and natural gas industry.
While the development of commercial blockchains is flourishing, that of some open source, non ICO, minable blockchains for cryptocurrencies is facing a shortage of resources and thus it is developing at a slower pace. The core idea of an open source blockchain development system is its detachment from any direct or indirect financial incentives. As romantic as this idea sounds, it is not viable for a lot experts and talented developers to code for free. Don’t get us wrong, there are a lot of voluntary contributors motivated by a common purpose contributing to the development of the open source resources, but these contributors are temporary or only get involved when the project is attractive and at its peak. To attract talent and to retain them some financial incentive is important, and by donating to open source, non ICO, mineable blockchain projects, we make their systematic development possible by offering some financial incentive to the talent.
Blockchain development is no longer limited to coding just on laptop. Development of an elaborate blockchain needs resources like servers, testers, bug fixers, and documentation for prolonged periods of time. Today software is tested over various devices like desktops, mobiles and cloud computing platforms to test for bugs and optimize its performance. This is an expensive, time consuming process and requires financial resources for the timely development of the blockchain. This is lengthy, boring process and needs to be done even when the project is not very popular. This is best motivated by financial incentives.
Post the initial development phase comes the plethora of legal, consulting and public relations expenses. While a very popular project may find talented voluntary developers, finding voluntary legal, consulting and public relationship contributors will be extremely difficult if not impossible. When we take into account the fact that blockchains back cryptocurrencies, the legal aspect is all the more important as we are dealing with volatile virtual currencies and the blockchain technology is used to record every transaction taking place where a particular crypto currency is used.
Thus, it is of utmost importance to support and donate to non ICO, mineable, open source blockchain for systematic and sustainable development. Changeangel.io was established with the vision of helping the development of open source, non ICO, mineable blockchains and to do so we donate a part of our swap revenuer to open source blockchain projects. If you believe in our vision, you should transact in your favourite cryptocurrency using Changeangel.io as a platform and in the process also support and donate to its blockchain development.