Hedera’s “DeRec” protocol, which has been in development for some time now, is rumored to be released in the third quarter of this year.

DeRec, which is an acronym for “Decentralized Recovery”, aims to solve the market-wide problem of recovering lost coins or private keys to regain access to crypto wallets. This unique mechanism offers a “safety net” for stolen or misplaced cryptocurrencies, resulting in an environment that is still, for many, too cumbersome and risky to engage with.