Hedera Becomes Founding Premier Member of Linux Foundation Decentralized Trust

In Historic Move, Hedera Contributes Entire Codebase to New Decentralized Trust Software Foundation as Hiero Project

LAS VEGAS and SAN FRANCISCO and VIENNA, Sept. 16, 2024 /PRNewswire/ -- Today, Hedera and LF Decentralized Trust announced Hedera as a founding Premier Member of the newly launched Linux Foundation umbrella project. Hedera has also contributed the entirety of its source code—including its hashgraph consensus algorithm and all core services, tooling, and libraries—to LF Decentralized Trust. Hedera's significant contribution has been approved as a new project, Hiero, further demonstrating its dedication to open source, decentralized trust, and empowering developers worldwide.

"Hedera's commitment to community, governance, and open source development has been a cornerstone for its success," said Daniela Barbosa, General Manager of Decentralized Technologies at the Linux Foundation and Executive Director of LF Decentralized Trust. "Now, as a premier member, code contributor, and project maintainer, Hedera is building on that commitment and helping ensure there is a neutral home for the decentralized trust technologies and applications that are helping reshape the world. As an open source foundation, LF Decentralized Trust exists to ensure the long-term stability of these critical technologies and encourage global, collective innovation in their development and deployments. Hedera's support as a premier member is critical to this mission."

The source code contributed by Hedera Hashgraph LLC will be hosted and managed as project "Hiero" under LF Decentralized Trust. Hiero will operate under an open and inclusive charter, and welcomes contributions from developers globally. Hiero will support the development of a wide range of applications and core platform features tailored for the Hedera network, including wallets, decentralized exchanges, explorers, bridges, SDKs, private ledgers, and advanced cryptographic solutions.

Charles Adkins, President of Hedera Hashgraph, LLC, will join the Governing Board of LF Decentralized Trust. He joins alongside leaders from Accenture, DTCC, and Hitachi, which, as premier members of the Hyperledger Foundation, are also now founding premier members of LF Decentralized Trust.

Adkins added "This contribution represents a historic moment in the evolution of decentralized networks and is setting a precedent for transparency and collaboration in the blockchain industry. By contributing our codebase to LF Decentralized Trust, as project Hiero, we are reaffirming our commitment to open governance and collaboration. LF Decentralized Trust's mission to advance decentralized systems aligns perfectly with our own goals. We look forward to providing developers with unmatched access to tools and resources, creating an environment where decentralized applications can truly thrive."

The source code governance transitions to the Linux Foundation, while the operational governance of the Hedera network will continue to be managed by the Hedera Council. This ensures the network maintains its integrity, security, and commitment to decentralization while benefiting from the extensive resources and community support of the Linux Foundation.

Dr. Leemon Baird, Co-Founder of Hedera and Chief Scientist at Hashgraph, concluded "Today marks a significant milestone for the open-source community. By contributing Hiero to the Linux Foundation, an organization with a long history of supporting open source and open innovation, Hedera demonstrates to Council Members, ecosystem partners, grantees, and the builder community that it is committed to growing the capabilities of its network through transparency and meritocracy."

About Hedera
Governed by a council of the world's leading institutions, Hedera is a high-performance, secure, and sustainable public, permissioned DLT network. It enables seamless tokenization of real-world and digital assets with unmatched performance, security, and compliance. From regulated security tokens to NFTs, Hedera empowers the efficient creation of diverse asset types by providing enterprises and developers with robust open-source tools to unlock illiquid assets and drive the evolution of financial markets.

For more information, visit www.hedera.com, or follow us on X at @Hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.

About LF Decentralized Trust
LF Decentralized Trust is the neutral home for the open development of technologies that empower organizations to innovate with secure and resilient code. It is the Linux Foundation's flagship organization for a broad range of technologies and standards that deliver the transparency, reliability, security, and efficiency required for a digital-first economy. Supported by a diverse, global base of members and communities, LF Decentralized Trust champions open source best practices across a growing ecosystem of blockchain, ledger, identity, cryptographic, and related technologies. To learn more, visit: www.lfdecentralizedtrust.org.

About the Linux Foundation
The Linux Foundation is the world's leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects, including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, PyTorch, RISC-V, SPDX, Zephyr, and more, are critical to the world's infrastructure. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

Media Contact
Emily Fisher
LF Decentralized Trust
[email protected]

Laura Cooley
Hedera
[email protected]

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SOURCE LF Decentralized Trust; Hedera