Ethereum Foundation Grants Parity Technologies $5 Million

Ethereum Foundation Grants Parity Technologies $5 Million

On 7 January, Ethereum Foundation revealed a $5 million endowment to Parity Technologies to be used for the team’s development of developer tools, light clients, Casper, sharding, quality assurance, audits, and also for the enhancement of infrastructure

The grant will be handed to Parity Technologies in parts. The first will support the development completed by Parity. The next tranches will be delivered upon achieving breakthroughs in eWasm compatibility, the release of a light wallet, and successfully accomplishing the first two phases of sharding.

In the announcement, the foundation relays their dedication to provide funds to those who are building on the Ethereum infrastructure with goals of being scalable, usable, and secure. To be effective in deploying their resources, the foundation offers milestone-based grants proportional to a project’s potential.

Parity and Ethereum

In the technical field of the Ethereum project Parity Technologies, founded by Gavin Wood and Jutta Steiner, is among its foremost contributor. Since the time of their establishment, Parity, who provides an open-sourced platform, is a self-funded endeavor. Leadership in core development together with their Parity Ethereum made them vital in the Ethereum ecosystem.

Parity’s team was in Devcon4 where they introduced plans for implementing Serenity.

Parity and Zcash

Last October 2018, Zcash Foundation revealed their team-up with Parity. The purpose of the collaboration is for building an independent node implementation for Zcash miners and users.

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Ethereum Price Analysis: ETH Buyers Not Out of Woods Yet

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Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer

The whole cryptocurrency community has been waiting for the Constantinople hard fork since 2017. Recently, the team announced that the update has been postponed for the second time. This is because of a potential attack that can take place after the hard fork occurs. The vulnerability was pointed out by ChainSecurity, an audit platform for smart contracts, as a part of the Ethereum bug bounty program. The team found that the update enables new Reentrancy Attack. The key factor is that the smart contracts are not vulnerable to the attack before the hard fork but only after the attack. This was because of one of the Ethereum Improvement Protocols‘, which proposes Net gas metering for SStore without dirty maps. Soon after the news broke, the Parity team and the Geth team released a new emergency version and asked all the node operators to updated to the new version immediately. The emergency version released by the Parity team is Parity Ethereum 2.2.7 – stable and Parity Ethereum 2.3.0 – beta. The emergency version released by Geth team is Byzantium Revert v1.8.21. This update, according to the initial announcement by Ethereum Foundation, is required to be done by miner, exchanges and node operator. They also stated that people only interacting with the Ethereum need not do anything including Ledger, Trezor, MyEtherWallet, MyCrypto, and Parity Signer. Afri Schoedon said on Twitter: “There are 3783 Ethereum nodes visible to the devp2p scraper, 70.53% already cancelled Constantinople. – Geth 1680/2553 (65.80%) – Parity 988/1230 (80.33%)” He further added: “In the last 12 hours, 10335 users upgraded their Parity Ethereum nodes to 2.2.7 stable (76%) or 2.3.0 beta (24%). Most of them use GNU/Linux (95%), some Windows (4%), and a few MacOS (1%). Andreas M Anthonopolous, a Bitcoin proponent and author of Mastering Bitcoin, also commented on the interesting turn of events. He said: “Ethereum Constantinople hard fork postponed because of security issue – all node operators need to upgrade node software TODAY to prevent being forked out of consensus” Peter Szilagyi, another core developer of Ethereum said earlier today: “I’m actually quite pleasantly surprised how smoothly this emergency action went down. Was really nice to see so many stepping up to help with whatever they could! Congrats #Ethereum community!” The post Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer appeared first on AMBCrypto.
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