Hedera, a leading decentralized public network, has announced a groundbreaking partnership as a founding premier member of the Linux Foundation’s newly established Decentralized Trust initiative.
This move represents a significant shift toward decentralization, emphasizing the importance of open-source technology in the world of blockchain and distributed ledger technologies (DLT).
Open-Source Contribution By Hedera
Hedera contributed its entire source code to the Linux Foundation, including its cutting-edge hashgraph consensus algorithm and a comprehensive suite of core services, tools, and libraries. This contribution has led to the formation of a new open-source project called “Hiero,” which aims to foster global collaboration on decentralized trust technologies.
The open-source nature of Hiero allows developers from all ecosystems to engage with and build upon Hedera’s technology, which is expected to accelerate innovation and adoption of decentralized solutions. This inclusive framework will play a crucial role in advancing decentralized trust technologies, potentially benefiting enterprise, government, and app ecosystems alike.
The Significance of Open-Source for 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 collaboration for the future of decentralized technologies. In her statement, Barbosa mentioned that "open source, combined with open development and open governance as part of a neutral foundation, is the future of decentralized technologies."
By adopting an open-source framework under the Linux Foundation’s leadership, Hedera is positioning itself as a key player in driving innovation and ensuring the future of decentralized applications. Developers now have unprecedented access to Hedera’s technology, enhancing interoperability and collaborative potential across the decentralized landscape.
Hedera’s decision to make its codebase open-source through Hiero is a significant milestone for developers worldwide. According to Charles Adkins, President of Hedera, the move is set to “foster collaboration and interoperability” among developers, making it easier for them to engage with Hedera’s technology. This collaborative environment will enable faster innovation, paving the way for new applications and use cases across the decentralized ecosystem.
With this open-source model, Hedera opens the door for developers to build decentralized applications (dApps) and systems on top of its robust infrastructure. This will likely lead to the development of more secure, scalable, and efficient solutions for industries looking to adopt decentralized technologies.
Hedera’s Involvement in the DeRec Alliance
In addition to its involvement with the Linux Foundation, Hedera has also joined the Decentralized Recovery Alliance (DeRec Alliance), alongside Input Output (IOHK), the development arm of Cardano. This alliance aims to address key challenges related to crypto recovery and user safety, providing a critical safety net for the decentralized finance (DeFi) space.
Leemon Baird, chief scientist at Hashgraph and co-founder of the DeRec Alliance, noted that this collaboration is an important step in shaping industry standards and simplifying user experiences across the crypto landscape. The alliance will work on creating policies and standards to improve the recovery process for lost or stolen crypto assets, which remains a pressing issue in the industry.
A Bright Future for Hedera and Decentralized Technologies
As Hedera continues to make strides in the blockchain and decentralized trust space, its contribution to the Linux Foundation’s Decentralized Trust initiative is expected to have far-reaching implications. By making its codebase open-source and actively collaborating with developers globally, Hedera is positioning itself as a leader in the push toward a more decentralized and interoperable future.
The launch of Project Hiero, along with Hedera’s involvement in the DeRec Alliance, highlights the company’s commitment to fostering innovation, improving security, and making decentralized technologies more accessible to developers, businesses, and users around the world.
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