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Hedera Governing Council to purchase hashgraph IP and open source project code by Cointelegraph

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

An announcement on Wednesday also states that it intends to move their code to an open source model this year, licensed under Apache 2.0, by key team members such as CEO Mance Harmon and Chief Scientist Leemon Baird from Hederatik Swirlds Inc. in addition to transferring as a director and as a director. chief technology officer, respectively, and expanding community participation and node opportunities, among other updates.