Transactions on HiPEAC is a new journal which aims at the timely dissemination of research contributions in computer architecture and compilation methods for high-performance embedded computer systems. Recognizing the convergence of embedded and general-purpose computer systems, this journal publishes original research on systems targeted at specific computing tasks as well as systems with broad application bases. The scope of the journal therefore covers all aspects of computer architecture, code generation and compiler optimization methods of interest to researchers and practitioners designing future embedded systems. This inaugural issue contains 21 papers - headed by an article by Sir Maurice Wilkes, who provides a perspective on the exciting evolution of computers to the present day. Reflecting on the evolution in computer architecture over the last decades, he also provides his outlook on the forces that will be important for developments over the next decade. The second regular paper describes a roadmap put together by the HiPEAC community to mark out the 10 most important research challenges to be faced in the next decade. The volume also includes a part containing the best papers of the 2005 International Conference on High-Performance Embedded Architectures and Compilers (HiPEAC 2005), a part consisting of papers devoted to the topic of optimizing compilers, as well as a third part containing the best papers on embedded architectures and compilers from the 2006 ACM International Conference on Computing Frontiers.Stenström, Per is the author of 'Transactions on High-Performance Embedded Architectures and Compilers I', published 2007 under ISBN 9783540715276 and ISBN 3540715274.