Hedera joins Linux Foundation, donates source code to new project

Hedera Hashgraph Joins Linux Foundation, Launches Hiero Project

Hedera Hashgraph has announced its membership as a founding “premier member” of the newly launched Linux Foundation initiative, LF Decentralized Trust. In a significant move, the project has contributed its entire source code, including the hashgraph consensus algorithm, to be hosted under the new “Hiero” project.

In a press release dated September 16, Hedera stated that this donation aims to foster open-source development and collaboration. The Hiero project will support a variety of applications and core features within the Hedera ecosystem, such as wallets, decentralized exchanges, explorers, bridges, SDKs, private ledgers, and advanced cryptographic solutions.

As part of this initiative, Hedera president Charles Adkins will join the governing board of LF Decentralized Trust, working alongside leaders from Accenture, DTCC, and Hitachi to drive the project’s objectives.

Earlier in September, Hedera also became a founding member of the Decentralized Recovery Alliance, collaborating with Cardano developer Input Output to create a platform aimed at simplifying crypto recovery for Web3 users.

Despite these advancements, the Hedera token (HBAR) has faced a decline of 3%, currently trading at $0.05. The governance of the Hedera network will continue to be overseen by the Hedera Council, which is committed to maintaining the network’s integrity and security while leveraging the extensive resources and community support of the Linux Foundation.