Computer programs made available for use, modification, and distribution without express approval from the developer.

An open-source software (OSS) is one whose developer releases the authoritative rights on it by allowing other people to obtain, modify, and even distribute it for free. These kinds of programs have their source codes published and are usually geared towards boosting increased activity in a community of users. Moreover, these programs are usually developed by a large number of individuals and require the involvement of a community of others to oversee its progression over the years.

There are different kinds of OSS. Some of them allow free acquisition, use, modification, and distribution. Others are only modified and distributed on the condition that the original developer license is affixed on subsequent versions of the software.

A data source or structure used for efficient organization of accurate data.

An oracle in cloud computing generally refers to a special data structure that transforms into a data source because it is flexible and easy to use. It is coined from Oracle Cloud, the name of cloud computing service used for data computing, storage, and networking. However, in crypto, oracles are data sources that serve as intermediary components between smart contracts and needed third parties that provide accurate information.

There are different types of oracles in crypto. A common one is the inbound oracle which is used to connect a smart contract to an external source, and create an order based on set conditions following the information from the external source. ChainLink (LINK) is a popular decentralized oracle network that provides secure inputs and outputs for smart contracts on compatible blockchains.

A conditional pair of orders that ensure that the execution of one of the orders shuts down the other.

One Cancels the Other (OCO) orders are special orders characterized by controvert outcomes. OCO consists of two orders that are not generally opposite (that is, one buys and the other sells), but makes sure that once one of the orders has been executed, the other is terminated. It uses the typical ‘if-then’ condition to ensure that only favorable conditions are met.

OCOs are not very common. However, expert traders use them to enter and secure positions while reducing potential risks.

Open-Source Software (OSS)

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