Hedera and Algorand collaborate on decentralized system for wallet recovery
The DeRec Alliance, formed by key players in Hedera and Algorand eco system s, aims to create a decentralized digital asset recovery system . Hedera and Algorand eco system s, represented by HBAR Foundation and Algorand Foundation, recently announced the DeRec Alliance at the Crypto Finance Conference in St. Moritz. The alliance aims to develop a decentralized recovery system for digital assets, streamlining the process and aligning with conventional web2 practices. Co-founders Leemon Baird of Hedera and John Woods of Algorand introduced the initiative during a joint panel. 1/ Introducing the Decentralized Recovery (DeRec) Alliance: a collaboration between @SwirldsLabs, @AlgoFoundation, @HBAR_Foundation, @The_Hashgraph, & @DLT_Science to develop a standard which will greatly simplify the recovery & adoption of #DigitalAssets.https://t.co/6rP9gExc05 pic.twitter.com/5ifdAqqDr9 — Swirlds Labs (@swirldslabs) January 11, 2024 The DeRec Alliance seeks collaboration a...