Hedera's Open-Source Blockchain Leverages BitGo's Qualified Custody to Guarantee Security
Custody as the Cornerstone of Trust
Hedera is a decentralized, open-source public network that enables individuals and businesses to create powerful decentralized applications. It is designed to be a fairer, more efficient system that eliminates some of the limitations older blockchain-based platforms face.
Hedera’s Key Requirements for a Trusted Custodian
As a layer 1 blockchain, Hedera was looking for very specific requirements when it came to partnering with a custody solution.
-
Qualified Custody — While other custodians exist, Hedera specifically needed a qualified custodian to ensure the highest level of regulatory oversight and asset protection.
-
Effortless Usability — Seamless access to a wide range of digital assets, offering a user experience that simplifies complex crypto interactions.
-
Forward-Looking Partnership — A partner dedicated to creating long-term solutions that evolve alongside Hedera’s growing network.
-
Proven Track Record and Strong Reputation — A custodian with a long-standing history in the digital asset space.
I always recommend BitGo because of the capability of the products, the team, and I know they are going to be around a long time. That certainty is critical to me and to Hedera.
BitGo’s Impact on Hedera’s Operations
In looking for a trusted custody partner offering the most secure infrastructure to safeguard HBAR, Hedera chose BitGo’s secure multi-signature wallets as the foundation. Key results include:
-
Reduced overall overhead of managing digital asset security
-
Increased customer trust and enhanced security reputation
-
Expanded market reach with ecosystem growth
Increased Brand Trust
BitGo’s strong reputation for security and compliance has played a key role in building trust among Hedera’s users and partners.
Ensured Airtight Security
Battle-tested security protocols like multi-sig technology, advanced policy controls, and on-chain governance have provided Hedera with peace of mind.
Adaptability to Scale
BitGo’s dedication to developing innovative products and infrastructure for the digital asset space aligns with Hedera’s vision.
Boosted Ecosystem Growth
Governance of the Hedera network is maintained by the Hedera Governing Council, which includes well-known enterprises and institutions.
Looking Ahead
Building on this strong governance foundation, Hedera’s commitment to trust and security extends seamlessly through its partnership with BitGo.
Launched in 2018, Hedera is a Layer 1 open-source network offering scalable, decentralized infrastructure for applications across industries like supply chain, finance, gaming, and identity. With over 7 million accounts and 10,000 transactions per second, Hedera ensures optimal security and protection against censorship.
Table of Contents
- Custody as the Cornerstone of Trust
- Hedera’s Key Requirements for a Trusted Custodian
- BitGo’s Impact on Hedera’s Operations
- Looking Ahead
About BitGo
BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide.