Roman Snitko is the chief technology OFFICER of the Hodl Hodl, and at the Baltic Honeybadger 2019, in Riga, he made a remarkable statement. Hodl Hodl is the code for their exchange, the open-source offering. This was with loud applause. During the two-day event and spoke with a variety of speakers are positive about this development.
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Why is it that Hodl Hodl open source?
Hodl Hodl, it is one of the driving forces behind the event at the Baltic Honeybadger 2019. A lot of the big names in the bitcoinwereld flew to Riga in Latvia to speak about their work and the passion of bitcoin. A great place to Hodl Hodl, to show, to make a decision.
Snitko gave a number of reasons as to why the source code of the exchange to be publicly shared. The most important thing is to maintain the code. He makes a reference to the past:
“There are a lot of exchanges, went bankrupt due to a lack of customers. There are also exchange is compromised, and there are also stock markets that the doors had to close because of the overheidsinmenging. A lot of programmers have been working on this code, but now all of that is lost. And we don’t want that in our code, it happens.’
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Some examples are, indeed, enough. Just think of the now defunct Mt. Gox, the near bankruptcy of the Canadian exchange QuadrigaCX and hacked-New Zealand exchange-Cryptopia.
Below, you can find it from 4 hours to 30 minutes for the presentation and of Snitko. Open the video on YouTube.
At the time the software is publicly shared, anyone can be a peer-to-peer file exchange, set up by the code, but so far it hasn’t. The code must be secure and have it cleaned up to be. Snitko is expected that the code at the end of the year, will be available.
No KYC
Hodl Hodl manage no bitcoin on their platform. Users will be able to bitcoin to offer, and interested people will buy direct from these suppliers. The advantage of this is that you have a platform (at the moment) is not a KYC/AML is needed. This means that the clients do not need to be identified.
Should Hodl Hodl, under such regulations, then, can the other party stand up to a similar service, on the basis of the source code. The idea is that a company can be restrained by legislation, but open source code is not.
In addition, the exchange does not have Hodl Hodl, other open-source projects. A good example of this is a slight variation of the one bitcoin block explorer.
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For more information: https://hodlhodl.com/pages/opensource