TL;DR
- Hedera becomes a founding member of LF Decentralized Trust, the Linux Foundation’s new home for decentralized technologies.
- The platform has donated its complete source code, including the hashgraph consensus algorithm, to the Hiero project.
- Hiero will be managed by the LF Decentralized Trust and will foster an open source ecosystem, supporting key Hedera applications.
In a significant development for the world of decentralized technologies, Hedera has announced its incorporation as a founding member of the LF Decentralized Trust, the Linux Foundation‘s new initiative aimed at promoting an ecosystem of blockchain, ledger, identity and interoperability technologies.
This move is notable not only for its scope, but for the impact it will have on the global community of developers and technology companies.
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
Read more: https://t.co/1I9qPoxF6C pic.twitter.com/MVjvbW3Fp0
— Hedera (@hedera) September 16, 2024
Hedera has taken the unprecedented step of donating its complete source code to the Hiero project, a crucial component of the LF Decentralized Trust.
This code includes Hedera’s hashgraph consensus algorithm, as well as its core services and essential tools.
The source code donation marks the first time in history that a public blockchain has handed over its entire codebase to an independent foundation.
This decision underlines Hedera’s commitment to the principles of decentralized governance and transparency, while offering a solid foundation for the development of decentralized applications.
The Hiero project, now an official part of LF Decentralized Trust, is designed to support a variety of critical applications on the Hedera network, such as digital wallets, decentralized exchanges (DEXs), software development kits (SDKs), and advanced cryptographic solutions.
By contributing its technology to this open source environment, Hedera seeks to foster a global, collaborative innovation community, where developers from around the world can participate and contribute to the advancement of these technologies.
A new paradigm in the world of decentralized technology
Hedera’s integration with LF Decentralized Trust not only strengthens the Hedera network, but also sets a new standard for other blockchain ecosystems.
With this agreement, Hedera becomes a leader in promoting an environment where cooperation and openness prevail over competition.
LF Decentralized Trust’s stewardship of Hiero will enable more inclusive and transparent governance of decentralized technology, ensuring that the development and deployment of new applications is done in a secure and collaborative environment.
Hedera’s commitment to the global community and open governance is also reflected in its participation on the LF Decentralized Trust Governance Council.
This council includes leaders from Accenture, DTCC and Hitachi, who will bring their expertise to guide the future of decentralized systems and ensure these technologies continue to evolve and thrive.
As Hiero moves forward, it is expected to drive a number of innovations and improvements in the way decentralized applications are developed and used.
This milestone marks a crucial stage in the development of open and accessible technologies, and sets a precedent for future initiatives in the field of blockchain and decentralization.
With this contribution, Hedera and LF Decentralized Trust are building not just technology, but the future of decentralized trust.
