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Shareholders Nod to Make Nu Source Code Public

Avatar Yashu Gola 5 years ago

In response to a motion filed last month, a majority of Nu shareholders voted in favor to make network’s source code open.

“With the successful passage of this motion, the Nu Shareholders[1] (“Shareholders”) have instructed the Nu Development Team[2] (“Developers”) to make the Nu source code available to the general public,” Nu representative Ben posted. “The updated license will allow free, permissive use of the source code in Nu-related and derivative projects.”

Despite the motion’s successful implementation, many shareholders believed that Nu could wait a little more before open sourcing its projects. There were concerns related to potential competition, uncompleted initiatives such as data feeds, and the chances of pure duplicity. But in the end, such concerns were conquered by much optimistic predictions, leaving the Nu projects in an accessible territory.

“The code should be made open source,” one of the stakeholders commented. “It not only adds trust but allows service operators running the code to easily make modifications. Freedom to view and modify the code is very important and this should not be put aside for short sighted fears of potential competition.”

How Does it Help Nu on Whole?

Ever since its launch in September last year, the Nu protocol has been well-received mostly due to its stable, dollar-pegged cryptocurrency NuBits. From the way we see it, the developers are taking a shot at adoption by simply making NuBits look much reliable than other volatile cryptocurrencies like Bitcoin.

By making their source code public, Nu team has simply indicated their readiness to be taken seriously. In our opinion, it is a defining moment for the coin as it now can interact with people throughout the cryptocurrency community — users, merchants, developers, etc.

There was a certain credibility Darkcoin earned a few months back when it announced to go open-source. Considering a similar scenario for Nu, we might see this project going places in coming months. Words of an optimist!

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN...

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