Ethereum Community Votes Down $318 Million Parity Refund Request

The Parity Multi-sig library was hacked in July 2017 and hackers went away with 150,000 ETH. Parity’s comeback was hit yet again with vulnerability in November 2017 when a client effectively took control of the library contract and “unintentionally” deleted it.

Afterwards, Parity released a statement in which it noted that “We deeply regret the situation and we are working hard on several Ethereum improvement proposals(EIPs), both contributing to previously existing ones and suggesting new ones that have the potential to unblock funds. These improvement proposals will also address general cases of blocked funds”.

The change convention being referred to is EIP-999, which was launched on April 4th and “suggests restoring the WalletLibrary by a patched version to allow the owners of the dependent multi-signature wallets regain access to their assets.”

Voting on the proposition occurred by means of a “coin vote,” which allowed those with influenced wallets to vote with the solidified ETH by signature. After much level-headed discussions inside the Ethereum community group, the last vote count was expectedly tight — with EIP-999 receiving 330 “no” votes, 300 “yes” votes, and 9 unbiased “couldn’t care less” votes.

Many find the close-but-no- result unsurprising, given the Ethereum community group’s history of protection towards recouping self-destructed contracts. On account of EIP-999, many analysts believe that individuals within Parity are just endeavoring to actualize the change basically for their own particular advantage, instead of profiting the more noteworthy Ethereum community at large.

The philosophical debate over the recouping of lost funds is nothing new to the Ethereum community. After the DAO hack of $60 million in June 2016, those in favor of the blockchain’s unchanging nature split away from Ethereum and formed Ethereum Classic.


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