Generally, open source refers to a computer program in which the source code is available to the general public for use and/or modification from its original design. Open-source code is meant to be a collaborative effort, where programmers improve upon the source code and share the changes within the community. Code is released under the terms of a software license. Depending on the license terms, others may then download, modify, and publish their version (fork) back to the community. (Excerpt from the Wikipedia)
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