What Is Open/Close?
Open/close has different meanings depending on the context in which it is used.
In the context of cryptocurrency, open/close refers to the prices of a cryptocurrency at the beginning and end of a specific period, such as the start and end of a day.
These terms are commonly used in traditional financial markets where trading occurs during fixed hours.
Extending Without Modifying Source Code
In software development, open/close refers to a programming principle that focuses on the extendability of software parts (such as functions or modules) without requiring changes to the source code.
This principle allows for flexibility while preserving the integrity of the fundamental parts of the code.
It was initially described by Bertrand Meyer and is a part of the SOLID principle in object-oriented programming.
The Challenge of Modifying Established Networks
This process can be challenging.
Consequently, blockchain platforms and decentralized applications typically allow changes only through a hard fork, which involves starting a new chain.
Enhancing Functionality Without Constant Hard Forks
Performing hard forks is inconvenient and risky for users.
It is impractical for projects to undergo a hard fork every time they need to make changes or add/modify functionalities.
Therefore, blockchain programming heavily relies on the open/close principle, allowing for the extension of capabilities without causing significant changes.