• Parity, the second largest Ethereum client, has announced that it will migrate its code base to a DAO ownership and maintenance model.
• The Parity team explained that they are already having trouble finding resources just to maintain the project.

The secon largest client provider for the Ethereum network, Parity confirmed that it will move its codebase to a DAO ownership and maintenance model. The announcement comes a few days after the activation of the latest Ethereum hard fork. Although its implementation was successful, the hard fork has presented difficulties. Parity stated that it has had problems performing rudimentary maintenance tasks and continuing to provide its services. Therefore they have decided to end the devolpment of the Ethereum Parity client.

Parity migrates to a DAO

Parity Technologies issued a press release detailing its decision. In the short term they will migrate the codebase of their Ethereum client to a DAO. In the statement, the team of Parity expressed the following:

We hope this new model can provide the basis for cross-organization collaboration to ensure the codebase gets the attention it needs to realize its full potential.

The team expressed concerns about the difficulties it has encountered in providing its services and performing rudimentary maintenance. According to Parity, other members of the community “will be better able to perform these tasks.

Parity is increasingly unable to dedicate the level of resources required for even simple maintenance of this project.

In addition, Parity stated that current technological developments are approaching a multi-chain future which requires even more ressources. Therefore, Parity’s team intends to concentrate on its most recent project, Polkadot. They will also end their commitments to the grant awarded by the Ethereum Foundation as part of the Serenity development team. Parity’s Chief of Public Affairs commented on the decision:

We want to let the maintainers own the license and empower them to determine their future, so that it does not depend solely on us.

Towards a multi-sharded future of the Ethereum network

Sernity, also known as Ethereum 2.0, will be a major challenge for the entire ETH development community. The Parity team further stated that Serenity’s progress will require even greater resources from client developers. For this reason, the team will focus entirely on Polkadot:

We nonetheless hope to continue helping to prove the technology as much as possible using Substrate and very much look forward to creating bridges to the Eth 2.0 beacon chain and parachains based on it over the course of its rollout.

Finally, the Parity team stated that its Ethereum project will be renamed OpenEthereum upon completion of its transition to DAO.

Ethereum’s price is currently trading at USD 131 and is in line with general market sentiment. ETH has recorded a loss of 6.4% in the last 24 hours.

Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?

Recommended for you:

• Buy Ethereum Guide
• Ethereum Wallet Tutorial
• Check 24-hour Ethereum Price
• More Ethereum News
• What is Ethereum?