- The Hedera Governing Council (the Council) has voted to purchase the intellectual property rights to the hashgraph consensus algorithm from Swirlds, Inc. The Governing Council Members further agreed to make the code open source under Apache 2.0 license in 2022.
- The open sourcing of the consensus layer of the Hedera network’s code is expected to further accelerate its development and expand the number of contributors.
- The Council Members have also made decisions that accelerate the network towards even greater decentralization in order to enable broader community participation.
- The management, development and marketing teams, and related personnel currently employed by Hedera Hashgraph, LLC will move to Swirlds.
- These organizational changes include the elimination of central executive roles such as CEO and CTO. Mance Harmon, the outgoing CEO of Hedera Hashgraph, and Dr. Leemon Baird, the outgoing Chief Scientist of Hedera Hashgraph, will continue participating in the Hedera ecosystem as peer members of the Governing Council through Swirlds Labs, where they are CEO and CTO, respectively. In addition, Dr. Leemon Baird will continue to serve as Co-Chair of the Hedera Council’s Technical Steering & Product Committee, which is responsible for technical and roadmap decisions affecting the Hedera network, and Natalie Furman, who is resigning from the position of General Counsel at Hedera Hashgraph to assume the same role at Swirlds, will continue to participate as one of the member representatives in the Council’s Legal & Regulatory Committee. Tom Sylvester is being promoted from Associate General Counsel to General Counsel at Hedera Hashgraph.
- The Hedera Governing Council has also entered into an agreement to outsource several essential services to Swirlds for the foreseeable future as the Council focuses on core network governance, industry standards, public policy, and treasury management.
- The Hedera Board also unanimously elected Brett McDowell for a two-year term effective January 1, 2022, as the first Chair of Hedera Hashgraph, a role he has served in ex officio since the founding of the Council in February of 2019.