Hedera, a decentralised network known for its hashgraph consensus algorithm, has become a founding Premier Member of the newly launched LF Decentralised Trust, an initiative under the Linux Foundation.
In a significant move, Hedera has contributed its entire source code, including its consensus algorithm and all core services, to the foundation. This contribution has been approved as a new project called “Hiero.”
The project will be hosted and managed under LF Decentralised Trust and will operate under an inclusive charter, welcoming contributions from developers worldwide. The project aims to support a wide range of applications for the Hedera network, including wallets, decentralised exchanges, and advanced cryptographic solutions.
Charles Adkins, President of Hedera Hashgraph LLC, will join the Governing Board of LF Decentralised Trust alongside leaders from companies like Accenture and Hitachi. He described the contribution as a “historic moment” for decentralised networks and reaffirmed Hedera’s commitment to open governance and collaboration.
Despite the transition of source code governance to the Linux Foundation, the operational governance of the Hedera network will continue to be overseen by the Hedera Council, ensuring the network’s integrity and security while leveraging the resources of the Linux Foundation.
Dr. Leemon Baird, Co-Founder of Hedera, noted the milestone’s importance for the open-source community, stating that contributing Hiero to the Linux Foundation demonstrates Hedera’s commitment to transparency, innovation, and decentralisation.
Daniela Barbosa, General Manager of Decentralised Technologies at the Linux Foundation, also highlighted Hedera’s dedication to community and open-source development.
“As a premier member and code contributor, Hedera is helping ensure a neutral home for decentralised trust technologies that are reshaping the world,”
Barbosa said.
The announcement came alongside the Hedera Global Governing Council’s decision to allocate 4.86 billion HBAR, valued at $408 million, to enhance network development as part of the HBAR Foundation’s strategy to expand its user base in 2024. Additionally, the HBAR Foundation highlighted that the Hedera network processed 33 billion transactions in 2023, underscoring its increasing adoption and rising popularity.
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