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Hedera Governing Council Planing to Buy Hashgraph IP, and Open-Source Projects Code

21-Jan-2022 By: Sudeep Saxena
Hedera Governing Cou


The Hedera Governing Council has officially voted to purchase the intellectual property rights to the hashgraph consensus algorithm from the founding architect and an inaugural member of the council, Swirlds Inc, for an undisclosed fee.

Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to create decentralized applications in the Web3 sphere.

Hedera’s evolution to an open-source technology differs from their current model of open-review, in which the code appears as publicly visible, but is not accessible for editing or developmental purposes by the global community.

Supported by the United Kingdom's Department for Business, Energy, and Industrial Strategy, the pilot scheme — conducted in April and October 2021 — is expected to support the adoption of drones into the existing air traffic transportation system.


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