Cardano's development arm Input Output (IOHK) and decentralized public network Hedera have joined the Decentralized Recovery (DeRec) Alliance as founding members, joining the Algorand Foundation, Hashgraph, Ripple, and XRPL Labs to lead the security and trust Web3 initiative. It is reported that the DeRec Alliance aims to solve the complexity of protecting digital assets and reduce the user's burdensome experience in managing security. The alliance's open source protocol provides an interoperable and standardized solution for data recovery, including identity credentials and private keys. (Cointelegraph)