Electronics company LG joined Hedera Hashgraphâs Governing Council on Wednesday, becoming its 14th member.
The addition edges Hedera toward its councilâs 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.Â
LG, a South Korean home appliance manufacturer, is the first such business to join and only the second based in Asia after the Japan-based Nomura.
Those attributes add a fresh perspective to Hederaâs telecom-heavy and Asia-light council, said Hedera CEO Mance Harmon. He said members âvote on just about every part of the businessâ of the limited liability corporation.
âFor that to be done well, we want to make sure that we have that really broad representation, not just across verticals but also by geography,â Harmon said. âLG is bringing diversity and further decentralization to the council in the way that we havenât had before. Thatâs part of the excitement here.â
See also: University College London Joins Hedera Hashgraph as Council Member, Research Partner
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 the Hashgraph beta can handle 10,000 transactions per second â âway fasterâ 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.