Parity has abandoned its plans to restore access to the “frozen” 275 million dollars

Parity has abandoned its plans to restore access to the “frozen” 275 million dollars

Parity Technologies announced yesterday that it is not going to continue to work on their suggestions for “unfreezing” ethereum funds totaling $ 275 million.

A few days ago, the company outlined four proposals to amend the Protocol ethereum, which would restore access to the 275 million dollars in ethereum, frozen last month because of a vulnerability in the software Parity. Four options, described in detail in the blog post, suggest various changes in the software ethereum, particularly in the ethereum virtual machine (EVM), which translates to smart contracts code.

Speaking yesterday at a meeting of developers, where according to the regulations, one of the issues for discussion was to be the situation with the frozen funds, the representative of the Parity Africa Choedon admitted that the proposed options for unfreezing of funds, apparently did not receive sufficient support in the ethereum community to continue to work on them.

Actually, I don’t want to talk about it, except that we clearly understand the position of the community on our proposals, and, given the feedback, not going to continue working on them.

Parity Technologies have not yet made an official statement about their next steps.

The original proposal (4 pieces) of the company was strongly criticised by the ethereum community. In particular, one of the main developers of Ethereum, Nick Johnson warned that changes of this kind can lead to dangerous and unpredictable results.

Because of the risks and level of uncertainty, I personally can’t recommend any one of the four options.

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