Blockchain ecosystem Hedera Hashgraph has joined the Linux Foundation, contributing its entire source code, which will be hosted as the Hiero project.
Hedera Hashgraph has announced its entry as a founding “premier member” of the newly launched Linux Foundation umbrella project, LF Decentralized Trust.
In a Sept. 16 press release, Hedera said that it has also donated its entire source code, including its “hashgraph consensus algorithm and all core services, tooling, and libraries,” to the project, which will be managed under the newly established “Hiero” project within LF Decentralized Trust to foster open-source development.
The Hiero project will support a range of applications and core features for the Hedera network, such as wallets, decentralized exchanges, explorers, bridges, SDKs, private ledgers, and advanced cryptographic solutions, the press release reads.
Following the latest development, Hedera president Charles Adkins will join the governing board of LF Decentralized Trust, alongside leaders from Accenture, DTCC, and Hitachi.
In early September, Hedera also joined the Decentralized Recovery Alliance as a founding member alongside Cardano developer Input Output, aiming to develop a platform for easier crypto recovery for web3 users.
Despite the latest development, Hedera’s (HBAR) token has seen a decline of 3%, trading at $0.05. The governance of the Hedera network will remain under the Hedera Council, ensuring the network’s integrity and security while leveraging the Linux Foundation’s extensive resources and community support.