Hedera Partners with Linux Foundation for Decentralization
- Hedera becomes a founding member of the Linux Foundation Decentralized Trust project.
- The initiative involves sharing its complete source code with the LF Decentralized Trust.
- Despite the news, HBAR’s price saw a slight decline but hinted at possible recovery.
On September 16, Hedera announced its entry as a founding member of the newly established Linux Foundation Decentralized Trust initiative.
Key Contributions to the Project
Hedera’s involvement extends beyond mere membership. The organization is committed to enhancing decentralization in the blockchain sector by contributing its comprehensive source code, including the Hashgraph consensus algorithm and core network services, to the Linux Foundation.
The Hiero Initiative
Charles Adkins, Hedera’s president, emphasized that this step represents a significant evolution for the blockchain ecosystem through a project named Hiero.
This initiative signals the onset of a new innovation chapter for both Hedera and the wider ecosystem, driving the development of essential applications like:
- Cryptographic solutions
- Wallets
- Decentralized exchanges
- Software Development Kits (SDK)
In addition to contributing code, Hedera will also be part of the governing board of the LF Decentralized Trust, which includes well-known entities such as Accenture, DTCC, and Hitachi.
Future Prospects for Hedera
According to Adkins, governance of the network will continue to reside with the Hedera Council.
He stated, “Our commitment to the Hedera ecosystem remains unwavering. While the code now benefits from the extensive resources of the Linux Foundation, the operational governance of the Hedera network remains with the Hedera Council.”
This transition is expected to enhance security, integrity, and decentralization, thereby fostering a robust environment for developers.
Hedera’s engagement with the Linux Foundation complements its participation in the Decentralized Recovery Alliance, which it joined with Cardano’s IOHK in early September.
At the time of writing, HBAR, the native token of the Hedera ecosystem, was trading around $0.05, reflecting a 2.8% decrease over the past 24 hours.
