Open-Source Guarda Wallets

All Guarda single-currency wallets are available in open-source. The wallets are designed to store, manage, transfer and receive cryptocurrency.

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Decentralization in blockchain

The main idea behind blockchain technology is complete, genuine decentralization.

The main idea behind blockchain technology is complete, genuine decentralization. Decentralization is the process of distributing power, finance, or efforts without the intervention of a centralized authority. It became possible in the financial management system after the creation of blockchain technology. This decentralized system doesn’t have a local server, and all miners and participants in the transaction chain are equal. None of the transactions in the blockchain are monitored or controlled by developers. Transaction confirmation is carried out by the network users.

Main goal:

Ensure the security level

Advantage:

The lack of external regulation

Independence:

Excludes political manipulation or regulatory authorities

Evolution of Decentralization

With the advent of the next blockchain generations (like Ethereum, NEO or NEM), users have the opportunity to create their own decentralized applications (dAPPs). This allows you to decentralize all data and the back-end code. It makes them immutable and protected.

dApps are divided into three main categories (types):

1. Funds management applications (for example wallets)

Users can make transactions with each other on the blockchain network using its internal digital currency.

2 Applications that integrate money with external events

For example, a logistics company can determine the geolocation of cargo using a radio chip and pay for transportation only when it arrives at the port. Payment is carried out using digital currency in the blockchain, without human intervention. The transaction is carried out using a smart-contract.

3 Decentralized Autonomous Organizations (DAOs)

Organizations that don’t have bosses or leadership teams, and work on the blockchain. They work according to the rules that determine who can be their participants, how participants can vote, what kind of business or activity they can engage in, and finally, how the exchange of tokens or other means of payment will be made.

Open-Source

Open-source projects are very popular In the world of blockchain.

These are projects with a code that anyone can verify, modify, and extend. Most cryptocurrency startups are promoted as open-source projects. Open-source Guarda Wallet provides its code freely available to any user, who can view, copy, modify, share, and also learn on the basis of it (some restrictions may exist, regulated by the license of the Guarda team). Open-source promotes collaboration within the community, allowing users to make changes to the code.

Anyone Can Customize Guarda wallets:

Community support in this way is very important. The community is also interested in improving the quality of the wallet. You can find like-minded people engaged in development in the same direction as you and co-operate with them. An example would be integration of the wallet into your business. You can set up a Bitcoin or Ethereum wallet (or any other from the list below) and fully customize and adapt it for yourself and your goal. Changing UI and the expansion of its functionality is in your hands.

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Open-Source Guarda Wallets

You can see and examine all Guarda’s open-source components.

Guarda actively pursues a policy of shared code and transparency snippets with users. The most important thing is that your private keys are stored directly on your device.

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