Hedera Joins Linux Foundation's Decentralized Trust Initiative

According to Cointelegraph, Hedera, a decentralized public network, has announced its new role as a founding premier member of the Linux Foundation’s recently launched decentralized trust initiative. The network has contributed its entire source code, including its hashgraph consensus algorithm and all core services, tools, and libraries, to the Linux Foundation. This contribution forms the basis of a new project named 'Hiero,' which aims to enable global collaboration on decentralized trust technologies under an open-source and inclusive framework. Hedera’s decision to transfer its entire codebase to the LF Decentralized Trust initiative marks a significant move towards greater decentralization. Daniela Barbosa, General Manager of decentralized technologies at the Linux Foundation and Executive Director of LF Decentralized Trust, emphasized the importance of open-source development for decentralized technologies. She stated that open source, combined with open development and open governance within a neutral foundation, represents the future of decentralized technologies that will be adopted across enterprises, governments, and app ecosystems. Charles Adkins, President of Hedera, highlighted the benefits of the open-source model for developers, noting that it fosters collaboration and interoperability. By contributing Hedera’s codebase to Hiero under the Linux Foundation’s Decentralized Trust, developers gain access to a more open and collaborative environment. This development allows developers from various ecosystems to engage with Hedera’s technology more easily, thereby accelerating innovation and adoption. In addition to its involvement with the Linux Foundation, Hedera has also joined the Decentralized Recovery Alliance (DeRec Alliance) alongside Cardano’s development arm, Input Output (IOHK). Both entities became the final founding members of the DeRec Alliance on September 5. They will serve on the Technical Oversight Committee for the next two years, helping to shape policies and standards that simplify user experience and facilitate crypto recovery. Leemon Baird, Chief Scientist at Hashgraph and co-founder of DeRec, expressed optimism about the industry coming together to address the critical need for a safety net.