Manage accounts, enable fast payments.
The Hedera Governing Council consists of up to 39 highly diversified leading organizations and enterprises, reflecting up to 18 unique industries globally. Council members are committed to governing software changes, while bringing stability and continued decentralization to the public network.
Members of the Hedera Governing Council share an equal vote in the direction of software for thousands of public nodes, and the Hedera platform’s codebase.
As the hashgraph consensus algorithm is proprietary with open review code, the network and its cryptocurrency have a no-fork guarantee. This ensures stability of development for application builders, and long-term confidence in the network.
At scale, we anticipate thousands of public nodes joining to support the network's decentralized consensus and growth. Council members will set up and maintain the initial set of nodes on the Hedera public network, after testing has completed.
All members have a 3-year maximum term, with up to 2 consecutive terms, and an equal vote on network and platform decisions. Swirlds, the creator of the hashgraph algorithm, has a permanent seat and equal vote. After initial members are selected by Swirlds, the council’s Membership Commitee sources replacements.
The Hedera network addresses decentralization concerns by separating governance from consensus. The governance model is based on the original model used by National BankAmericard Inc., founded in 1968, and later renamed VISA. It is designed in a way that ensures the governing council can be trusted to do what’s in the best interest of the Hedera network, that no single company has control, and that the Hedera Governing Council cannot be unduly influenced by individual members or node operators.
Senior Vice President
The most critical decisions for the Hedera platform and public network require unanimous council support. Decisions made by the council include, but are not limited to:
INDUSTRY LEAD, ENTERPRISE BLOCKCHAIN