The Hedera Governing Council has officially voted to purchase the intellectual property rights to the ‘hashgraph’ consensus algorithm from founding architect and inaugural council member, Swirlds Inc, for an undisclosed sum.
A Wednesday announcement also details plans to transition its code to an open source model this year under the Apache 2.0 license, as well as transferring core team members such as CEO Mance Harmon and chief scientist Leemon. Baird from Hedera to Swirlds Inc. as CEO and CTO, respectively, and the implementation of staking opportunities and community nodes, among other updates.
Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to build decentralized applications in the Web3 sphere.
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