RATE Group | Gavin Wood Says Parity Will Not Fork Ethereum to Restore Frozen Funds | Crowdfund Insider
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Gavin Wood Says Parity Will Not Fork Ethereum to Restore Frozen Funds | Crowdfund Insider

26 Apr Gavin Wood Says Parity Will Not Fork Ethereum to Restore Frozen Funds | Crowdfund Insider

Posted at 12:45h in Ethereum News by

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The cofounders of Parity.io, a company that lost or lost access to nearly half a billion dollars of client funds last year, have stated in a blog post today that they are “deeply sorry” and have no intention of forking the Ethereum blockchain to recover the funds.

639 Ethereum users voted Tuesday not to rework the network and patch a destroyed smart contract that froze the funds.

In “Our Commitment to Ethereum and a decentralized future,” Gavin Wood and Jutta Steiner state they, “were excited to pioneer,” decentralized network technologies, “before there was mainstream interest in blockchain and Ethereum.”

“Attention grew rapidly and so did the value at stake — much faster than anyone had expected,” they wrote.

Wood was formerly CTO (Chief Technical Officer) at Ethereum, and Parity is responsible for securing 40% of Ethereum’s network “nodes” -the computers that process transactions of ether, the network’s digital currency.

A number of developers,…

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