Hedera, which is a famous decentralized public network, has now become a key member of the Linux Foundation’s Decentralized Trust initiative. This project seeks to promote decentralized trust technologies around the world.
1/3 📢 @hedera is now a founding premier member of @linuxfoundation's new @lfdecentralized and has contributed its entire source code—including the hashgraph consensus algorithm and core services—as project Hiero. #OpenSource #HelloHiero
— Hedera (@hedera) September 16, 2024
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The network has given its full source code to the initiative. This includes the notable hashgraph consensus algorithm and all core services, tools, and libraries. This donation led to the start of “Hiero.” This new project aims to support an open-source, inclusive approach for developers everywhere.
Daniela Barbosa, the GM of Decentralized Technologies at the Linux Foundation and executive director of LF Decentralized Trust, discussed the value of open-source work for decentralized technologies. She highlighted,
At LF Decentralized Trust, we believe that open-source, along with open development and governance within a neutral foundation, is critical for the widespread adoption of decentralized technologies across enterprises, governments, and app ecosystems.
This move is expected to provide numerous thoughtful benefits for developers. Charles Adkins, President of Hedera, said that the open-source model will increase interoperability.
Adkins said that by adding Hedera’s codebase to the Hiero under Linux Foundation Decentralized Trust, developers can access a more open and collaborative environment. This arrangement lets developers from various ecosystems interact more easily with Hedera’s technology. It could speed up both innovation and adoption.
On September 5, Hedera and Cardano’s development arm, Input Output (IOHK), became the final founding members of the Decentralized Recovery Alliance (DeRec Alliance). They will be on the Technical Oversight Committee for the next two years. They will help develop policies that improve user experience and aid cryptocurrency recovery.
Hedera’s Price Prediction: Will It Surge Past Resistance Levels?Leemon Baird who is the co-founder of DeRec has also shared his excitement about the industry’s joint efforts to address key safety issues. He appreciated the importance of collective work in establishing a safety net for the crypto community.
