LG Joins Hedera Hashgraph Governing Council

Published on by Coindesk | Published on

Electronics company LG joined Hedera Hashgraph's Governing Council on Wednesday, becoming its 14th member.

The addition edges Hedera toward its council's long-term goal: tap 39 hands-on node runners to govern its enterprise-grade public ledger, Hashgraph.

Hashgraph is an alternative to blockchain platforms with buy-in from Google, IBM, Boeing and University College London among others.

Those attributes add a fresh perspective Hedera's telecom-heavy and Asia-light council, said Hedera CEO Mance Harmon.

"LG is bringing diversity and further decentralization to the council in the way that we haven't had before - that's part of the excitement here."

LG did not respond to a request for comment by press time.

In 2017, the electronics manufacturer trialed R3 Corda for financial transactions.

LG also participated in a 2019 cobalt-tracing pilot via Hyperledger Fabric.

Harmon claims that the Hashgraph beta can handle 10,000 transactions per second - "Way faster" than blockchain-based public ledgers running ethereum and bitcoin.

It follows a proof-of stake model in which users pay via tokens for network services.

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