Parity Slowly Dumping Ethereum to Focus on Polkadot

Parity Technologies, the distributed ledger technology (DLT) project in charge of the Parity Ethereum client has announced plans to adopt a decentralized autonomous organization (DAO) model for its Ethereum codebase. The firm says the move will enable it to focus more on the development of its Polkadot ecosystem whilst also ensuring that the Parity Ethereum client continues to move forward, according to a blog post on December 16, 2019.

Parity Opens up its Ethereum Codebase

Parity Technologies, the blockchain project that claims to have built the most advanced Ethereum client in Parity Ethereum, is now tired of doing all the maintenance work in its Ethereum ecosystem alone and as such, is now looking to open source the Parity Ethereum codebase to attract more developers to the project.

Per a blog post by Parity Technologies, the firm is looking to transition its Parity Ethereum codebase to a decentralized autonomous organization (DAO) ownership and maintenance system, in a bid to hand over most of its responsibilities to interested developers who’ll dedicate more time to the project and ensure it continues to grow.

Parity said:

“We spend large amounts of time on relatively mundane maintenance work that could be done by other developers in the community if only we operate with the right structure. Parity is increasingly unable to dedicate the level of resources required for even simple maintenance of this project.”

Setting up the OpenEthereum DAO

Dubbed OpenEthereum, the team says the proposed Parity Ethereum DAO will be made up of developers, as well as organizations that depend on its technology and it plans to hold talks with key stakeholders including the Ethereum Foundation, ETC Labs, Gnosis, POA Network, among others.

What’s more, Parity has stated categorically that though it’s yet to finish mapping out a clear structure for OpenEthereum; however, Parity plans to hand over the Parity Ethereum license to the DAO and move the codebase to its own GitHub repository.

Founded in 2015 by Gavin Wood, Jutta Steiner and Bjorn Wagner, with an aim to make it easier for businesses and organizations to integrate blockchain technology into their processes, Parity has contributed to several blockchain networks, including Bitcoin and Ethereum Classic and it’s currently in charge of Substrate and Polkadot, which has been under development for over a year.

It’s worth noting that the Parity ecosystem has also experienced its fair share of bad times.

Earlier in 2017, a bug in the multi-signature smart contract of the Parity Ethereum client allowed a user to accidentally freeze other people’s ether (ETH) worth nearly $300 million.