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Parity offers Hard Fork to recover $ 160 million frozen

Parity Technologies has just published a proposal to recover its lost funds.

In a press article published shortly before press time, the software company Ethereum confirmed that a hard fork will be needed to reactivate the Ether (ETH) of 160 million dollars that was frozen last month due to a code error.

The company wrote:

"No one should have the illusion that unlocking these secure funds would be anything other than a rescue operation – and would only be possible with a hard fork."

Parity revealed that its preferred solution would be provided via protocol changes to the ethereum virtual machine (EVM). According to the blog, it would be a "functional improvement of the platform" that would both restore lost funds and protect against similar cases in the future.

According to the blog article, there are four protocol changes of this type currently under revision.

As previously reported by CoinDesk, EVM protocol changes are a contentious solution. Speaking at the time, the idea was criticized by the ethereum developer, Nick Johnston, who said that he was going to "change an important invariant" in the EVM, leading to "unexpected bugs, even in contracts already deployed."

The post documents two other possible fixes, including an amendment to the existing Ethereum Improvement Protocol, EIP156, and a "site-specific" parity fund bailout.

Since the freeze on funds, the debate on parity has triggered discussions reminiscent of last year's DAO piracy, in which the hard-won fork spawned a competing cryptocurrency called the ethereum classic (nowadays). estimated at $ 1.7 billion).

The blog article of the parity concludes:

"We hope that the community will take care of the rescue of these funds to help all the users we can."

CoinDesk follows this story in development.

Broken glass image via Shutterstock

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