Hedera joins Linux Foundation, donates source code to new project

Blockchain ecosystem Hedera Hashgraph has joined the Linux Foundation to host all of its source code as the Hiero project.

Hedera Hashgraph has announced that it has joined the newly launched Linux Foundation umbrella project LF Decentralized Trust as a founding “lead member.”

Hedera said in a September 16 press release that it has donated all of the source code to the project, including “the hashgraph consensus algorithm and all core services, tools, and libraries,” and that the project will be managed under the newly established “Hiero” project under the LF Decentralized Trust to encourage open source development.

The press release stated that the Hiero project will support a range of applications and core features for the Hedera network, such as wallets, decentralized exchanges, browsers, bridges, SDKs, private ledgers, and advanced cryptographic solutions.

Following the latest development, Hedera Chairman Charles Adkins will join the board of LF Decentralized Trust, alongside leaders from Accenture, DTCC and Hitachi.

Earlier in September, Hedera, along with Cardano developer Input Output, joined the Decentralized Recovery Alliance as a founding member, aiming to develop an easier crypto recovery platform for web3 users.

Despite the latest development, Hedera’s (HBAR) token is down 3% at $0.05. The governance of the Hedera network will remain under the control of the Hedera Council, which ensures the integrity and security of the network while leveraging the extensive resources and community support of the Linux Foundation.