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Google Cloud Platform (GCP) is the latest to join the governing council of Hedera Hashgraph, a distributed ledger (DLT) platform for enterprises.
Hedera has developed a DLT based on the hashgraph consensus algorithm in order to deliver fast and inexpensive transactions with finality – a challenge that has been slowing the rate of DLT adoption by large enterprises.
Hedera Hashgraph’s blockchain mainnet went live in September 2019, allowing anyone to create accounts and any developer to build decentralized applications (dapps) on the platform. At the time of launch, 26 dapps and solutions were running live on the platform, including AdProv, AdsDax, All Binsignia, Carbon, Certara, Chainlink, hbarprice.com, HEX, MyHbarWallet, Otrafy, Rejolut, and others.
Hedera Hashgraph Council
The Hedera Hashgraph Council will govern changes to the software run by millions of Hedera distributed nodes over time. It will bring stability and guaranteed continued decentralization to the Hedera Hashgraph distributed public ledger. The council will consist of up to 39 multinational entities from different industries.
Current members include Boeing, FIS, Nomura, Swirlds, Deutsche Telekom, DLA Piper, Magazine Luiza, Nomura Holdings, Swisscom Blockchain AG, IBM, and Tata Communications.
Hedera expands relationship with Google Cloud
GCP said that Hedera has been leveraging the GCP premium network tier, a highly provisioned, low-latency global fiber optic network, to ensure the stability and reliability of its network since the inception of its DLT.
“We initially turned to Google Cloud for its ease of use, networking advantages and overall platform performance,” said Atul Mahamuni, SVP of Products for Hedera. “The Google Cloud Platform was the perfect foundation to help us achieve our goals to bring enterprise-ready DLT adoption at scale.”
Hedera has now selected Google Cloud as a preferred cloud provider for its public testnets and Hedera Consensus Service ecosystem. It stands to benefit from GCP’s extensive geographical coverage which would allow the growing global Hedera developer community to ensure both access and performance of their applications wherever they are.
“As we continue to evolve our infrastructure, we’re excited to expand our work with Google Cloud to now make DLT even more readily available for our community members, no matter their size or industry,” said Mahamuni. “This is about developing solutions that drive real business value.”
GCP has become a member of the Hedera Governing Council and will operate a Hedera network node. According to the announcement, it will make the ledger data available for analytics alongside GCP's other public DLT datasets, bolstering its position as the cloud provider of choice for DLT networks and decentralized applications.
