TagParity

Top Ethereum Developer Afri Schoedon Just Rage-Quit

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ethereum broken hard fork

Afri Schoedon, a long-time Ethereum contributor, abruptly quit working on the second-largest cryptocurrency. A few days ago, Schoedon tweeted a meme that said “Polkadot delivers what Serenity ought to be. Change my mind.” The meme raised ire on Reddit, and the situation devolved from there until the developer quit early this morning. ‘Change My Mind’ CCN recovered the main catalyst to...

Dev: Ethereum May Fail if it Relies on Infura to Run Nodes, Potential Solution

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Ethereum parity bug

Afri Schoedon, an Ethereum developer at Parity Technologies, said that the network cannot rely on Infura to process 10 billion requests per day. Created by Michael Wuehler, an author at ConsenSys and NYC Ethereum founder, Infura is an infrastructure that allows decentralized applications (dApps) to process information on the Ethereum network without running a full node. Some of the largest dApps...

Polkadot Developer Robert Habermeier Wins Prestigious Thiel Fellowship

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Peter Thiel Bitcoin

Polkadot developer Robert Habermeier has become the latest cryptocurrency developer to win a prestigious fellowship from the Thiel Foundation, which was founded by PayPal co-founder and bitcoin bull Peter Thiel. Every year, the Thiel Foundation 20 to 25 entrepreneurs under the age of 23 and awards them $100,000 over a two-year period. The foundation encourages its fellows to drop out of school...

Ethereum Client Parity Adds Support for Encrypted Smart Contracts

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parity

Ethereum client Parity has added support for on-chain private transactions in its latest software update, providing developers with the ability to create and deploy encrypted smart contracts. Released on Tuesday, Parity 1.11.1-beta introduces several new features to the software client, which remains popular even though several bugs in Parity’s multisig smart contract libraries have given the...

Parity Has ‘No Intention’ to Split Ethereum over $320 Million in Frozen ETH

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Parity Technologies has “no intention to split the Ethereum chain” over a dispute involving more than $320 million worth of ETH that has been frozen for months due to a bug in a multi-signature wallet smart contract library, the company said in a statement. In the statement, which was attributed to Parity co-founders Jutta Steiner and Gavin Wood, the company stated in no uncertain terms that it...

$330 Million: EIP-999 Stokes Debate Over ETH Frozen by Parity’s Contract Bug

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The debate over a controversial Ethereum Improvement Proposal (EIP) designed to restore a self-destructed smart contract holding hundreds of millions of dollars worth of ETH is heating up. EIP-999, written by Parity Technologies developer Afri Schoedon, calls for Ethereum to adopt a software upgrade that patches the UK-based company’s frozen multi-signature wallet contract library, allowing users...

Parity Ponders Hard Fork Fix for 160 Million in Frozen Ether

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Ethereum Classic fork

Parity Technologies has released an update about their investigation into the multi-signature wallet bug that permanently froze hundreds of millions of dollars worth of ether. Unfortunately for wallet owners, the analysis has not yet revealed any turnkey solutions. Last week, 587 wallets containing a total of 513,774.16 ether — worth $161 million at current exchange rates — were...

Hundreds of Millions of Dollars in Ether Stuck; Where Does Ethereum Go from Now?

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Coinbase Ethereum

Earlier this week, as CCN reported, a bug in the Parity software of Ethereum was discovered, effectively freezing hundreds of millions of dollars in Ether as a consequence. Initially, many speculative reports were made on social media, to which the Parity development team responded: “Update: To the best of our knowledge the funds are frozen & can’t be moved anywhere. The total ETH...

“Deliberate and Fraudulent”: Cappasity Says Parity Wallet Incident Was No Accident

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As CCN recently reported, the Ethereum ecosystem encountered another black swan event this week, as a bug was activated in the multi-signature wallet released by Parity Technologies. The bug resulted in users permanently losing access to millions in funds, as Github user “devops199” revealed he inadvertently exploited a bug in the Parity Wallet library contract. Cappasity recently pointed out...

Ethereum Price Climbs to $325 Despite $150 Million Wallet Bug Fiasco

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The ethereum price appears to have broken out of its prolonged slump, despite lingering concerns over a bug in a widely used wallet that has locked more than $150 million in user funds. Ethereum Price Attempts to Break Out of Slump Ethereum — like most cryptocurrencies not named “bitcoin” — spent October on the sidelines as it watched the flagship cryptocurrency scale the...

‘I Accidentally Killed It’: Parity Wallet Bug Locks $150 Million in Ether

Ethereum parity bug

The Ethereum ecosystem encountered another black swan event this week with the activation of a bug in the multi-signature wallet software released by Parity Technologies. The bug resulted in multi-sig wallet users permanently losing access to an estimated $150 million in funds. Leading some people to compare the significance of the event to the infamous collapse of bitcoin exchange Mt. Gox...

Parity Wallet Hacker Cashes out $90,000 of Stolen Ethereum Funds

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Bitcoin Theft

On July 20, as reported by CCN, hackers managed to seize $32 million in Ethereum after breaching Parity Technologies’ popular multi-signature wallet software. The hacker, according to blockchain data, managed to steal over 153,000 Ether, part of which he has now managed to cash out. At the time, Swarm City confirmed they lost over 44,000 Ether, and Edgeless Casino and Aeternity have also fallen...

Hackers Seize $32 Million in Ethereum in Parity Wallet Breach

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Parity Technologies has issued a critical security alert for their popular multi-signature wallet software following an apparent breach. The development team urged users holding ether in multi-sig contract wallets version 1.5 or later to immediately transfer their tokens to a secure address. The breach only affects multi-sig wallets; normal wallets appear to be safe. Hacker Nets $32 Million...

Bitcoin Just Surpassed Gold Parity

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Bitcoin has been on a bull run for much of this year, increasing from $920 to now stand at $1,239, surpassing gold parity by around $2 at the time of publishing. The currency has broken its all-time high while retaining value at current levels for some time. Benefiting from monetary mismanagement by authorities across the world during the second half of last year, its adoption has increased with...

Will Bitcoin Surpass Gold Parity?

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Bitcoin has increased in value by $150 in just three days, reaching an all-time high of $1,222 yesterday, now standing at slightly above $1,200. Likewise, gold has risen by around $100 since December, currently standing at $1,253. Except for a brief period earlier this year, when only Chinese exchanges momentarily surpassed gold parity, one bitcoin has never been more valuable than gold, nor has...

Ethereum’s Blockchain Accidentally Splits

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Ethereum split

Parity and Geth, Ethereum’s two main clients, went out of synch at around 3PM London time today, accidentally creating two chains operating in parallel. As such, Ethereum’s blockchain currently is not in consensus. Users, especially exchanges, are strongly urged to refrain from transacting or to wait for a very high number of confirmations until the matter is resolved. Developers are currently...