Hedera and Algorand forge an alliance for crypto recovery
Hedera and Algorand jointly launch Decentralized Recovery (DeRec) protocol for robust digital asset security. DeRec protocol uses trusted entities, secret sharing, and automatic confirmations for enhanced recovery. The Hedera and Algorand alliance aligns with industry needs for improved safety standards. In a groundbreaking collaboration, blockchain ecosystems Hedera and Algorand, including the HBAR Foundation and Algorand Foundation, have united forces to address the challenges of decentralized wallet recovery . The newly formed Alliance, consisting of key figures from both ecosystems, introduces an innovative Decentralized Recovery (DeRec) protocol. This protocol sets out to enhance digital asset security and recovery , offering a robust solution to a critical need in the blockchain industry. The DeRec Alliance The DeRec Alliance was unveiled at the Crypto Finance Conference in St. Moritz by Dr. Leemon Baird, the co-founder of Hedera, and John Woods,...