Open source software (OSS), done right, aids resilience in multiple important ways.
Properly understood, it becomes clear that without open source software, there can be no true technological decentralization.
Qredo is building security for the future of blockchain, which we firmly intend will be relevant fifty years from now.
We plan for our core technology to be able to survive indefinitely, and in theory, to survive even beyond our own company lifecycle, to support the whole blockchain ecosystem in being robustly secure whilst supporting the self-custody of digital assets.
We are donating the MPC code to the Apache Software Foundation, within the podling project Apache Milagro, an open source project that implements cryptographic primitives and multi-party computation.
We have done this to ensure that the core of our mathematics will be developed by an institution which has proven to be one of the best champions of OSS and to ensure others can participate in the development as peers.
We fully expect, in so doing, that we will enjoy more academic and industrial contributions to our code and ensure better speed for development, enhancement of features and security for our code.
At Qredo, we understand that our success is rooted in our commitment to open source technology. That's why we've chosen to base our core technology on the tried and tested Milagro project, an Apache-endorsed open source initiative that has earned a stellar reputation within the community.
Milagro's development model is inspired by the Apache Software Foundation, which has long been known for its excellence in open source software.
At Qredo, we are glad to contribute to such a prestigious institution as the Apache Software Foundation, whose reputation for quality and resilience made it the natural choice for the incubation of Milagro.
As an Apache project, Milagro is expected to adhere to the principles of collaborative software development, a commercial-friendly standard license, consistently high-quality software, respectful, honest, technical-based interaction, faithful implementation of standards, and security as a mandatory feature.
We are confident that in our work using open source we will attract contributions from some of the brightest minds in the industry. This should also further bolster our reputation with third parties and increase the overall quality of our core tech.
At Qredo, we evidence the integrity of our purpose not only by releasing best-in-class technical solutions for blockchain security but also by how we design our own trajectory as a company.
By constantly looking beyond ourselves, and our ambitions for our own company's success, we evidence our commitment to providing decentralized solutions which serve the entire blockchain ecosystem.
But being interested in our own company's future and growth is not incompatible with holding this wider view.
There are many benefits which come from building open source, decentralized solutions, both for Qredo as a company and for our investors and users.
In simple terms, the robust and accelerated development enabled by OSS will help support our reputation as a company, always an important commercial enabler.
Our solutions become more transparent, and the requirement to place any degree of blind trust is removed, since the OSS code is readily scrutinised. This is, of course, very in keeping with our commitment to building trustless solutions on the blockchain!
This approach should enable both Qredo's protocol and platform to be ever more relevant to a greater proportion of the wider ecosystem, accelerating adoption, and ensuring that we can achieve our key objective of democratising access to best-in-class security solutions for the whole blockchain sector.
At Qredo, we are committed to a pathway of creating an open, decentralized infrastructure to serve and secure the wider world of blockchain.
Our work with Apache and our use of Milagro technology demonstrate our unwavering commitment to open source and our dedication to creating a more secure, transparent and open blockchain ecosystem for everyone.