Hedera Hashgraph Goes Open Source: What You Need to Know

Big Moves for Hedera Hashgraph

The Hedera Governing Council has decided to make a bold leap into the open-source universe by acquiring the intellectual property rights to the hashgraph consensus algorithm from Swirlds Inc. This strategic vote comes with an undisclosed price tag, but who needs details when you have innovation on your side?

What This Means for Developers

In a delightful twist, Hedera plans to transition to an open-source model this year under the Apache 2.0 license. This is particularly exciting for developers and startups who have been peering through the fence of the currently open-review code, longing to touch those tantalizing bits of technology. Now, the code will not only be visible but editable! This is like the mom of all coding playgrounds!

The Power Duo Moves to Swirlds

The transition isn’t just about code—the leadership at Hedera is also switching gears. CEO Mance Harmon and chief scientist Leemon Baird are making their way from Hedera to Swirlds as CEO and CTO, respectively. Talk about a corporate relay race!

Hedera’s Governance in Expert Hands

The Hedera Governing Council, which includes major industry players like Google, IBM, and Boeing, continues to support the project’s decentralized aspirations. Each member plays a vital role in running blockchain nodes, participating in governance voting, and ensuring the ecosystem keeps growing like a well-watered plant.

Anticipated Growth with Open Sourcing

This change is significant because Hedera assessed that the chances of a network split are as slim as finding a needle in a haystack. Baird adds, “Open sourcing the software will allow this project to expand in ways that will help users, developers, startups, and enterprises.” So hold onto your hats! More projects in the Hedera ecosystem mean a decentralized party you won’t want to miss!

Events and Future Insights

Want to dive deeper? Harmon and Baird are hosting a YouTube webinar to discuss the exciting Shared Worlds initiative on January 26 at 11 am EST. Grab your popcorn, because this is where the magic happens!

Price Fluctuations and Partnerships

On a financial note, Hedera’s native token, HBAR, has been on something like a rollercoaster ride, hovering between $0.25 and $0.33 as of late, currently sitting at a cool $0.257. Plus, Hedera’s recent partnership with Neuron Innovations on a drone initiative demonstrates their commitment to integrating innovative technologies into the existing air traffic frameworks.