Open source programs have become a vital part of the organizational framework of many business ventures across the globe. However, with increasing interest in this technological domain, a whole new set of growing pains have come to light. For example, open source platforms present a severe lack of incentives for developers, thereby rendering many projects inactive within a short span of time.
FundRequest is an all-new venture that has been designed to fund open source issues on any project, irrespective of the programming language that has been used to develop it.
The platform makes use of a blockchain-driven framework as well as smart contracts to provide users with all of the necessary tools to foster an open source development community. Through the deployment of smart contracts, conflicts between the participating actors can be resolved without any third-party interference. This not only increases efficiency but also reduces platforms’ upkeep costs drastically.
FundRequest can combine issues with ongoing projects under a governance structure to support large features and projects in a hassle-free manner.
For starters, the FundRequest platform allows a user to submit a request to work on or improve his/her favorite target platform. With a plethora of functional features delivered via the platform’s native API and browser extensions, the user is able to raise funds accordingly.
Overview of what the platform has to offer
A user request can be funded using any ERC20 compliant token. As a result, projects will be able to reimburse solvers using their own native currencies.
Other key aspects of this service include:
(i) Seamless community support: when using this platform, anyone can fund requests for their favorite open source projects. This not only encourages the development of the project in question, but also allows qualified independent developers to earn a steady revenue stream.
(ii) Discovery of popular, untapped projects: through FundRequest, developers have the ability to find out which technical issues plague the crypto community at large. Participating devs can then work on these problems and support the widespread adoption of blockchain technology across the globe.
(iii) Development of customized projects: by proposing or funding new features, users will be able to directly participate in the evolution of existing projects.
Diagrammatic representation of the FundRequest ecosystem
FundRequest contains four primary components:
A simplified overview of how the platform works
In terms of transaction flow, the platform works as follows:
Karel Striegel is the CEO of this venture. According to his LinkedIn profile, he has previously been involved with various other projects such as:
Davy Van Roy is the CTO and co-founder of FundRequest. Davy is a blockchain and web development professional who specializes in technical domains such as:
Introduced to the market just under ten days back, the value of FND tokens has remained fairly stable.
FND token performance data (courtesy of CoinMarketCap)
As of May 29, FND is valued at $0.177 per token and has a total market cap of US$5,479,138. A total of 98,611,464 FND have been minted, of which only 30,851,003 are currently in circulation.
FundRequest introduces an easy and secure way to reward bug fixes and feature builds on any project. With FundRequest aiming to deliver a decentralized marketplace for open source collaboration, it would not be surprising to see this service fare well in the coming few months.
If you would like to start investing in this venture, FND trading pairs are currently available on IDEX and Coinbene.
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