Ethereum [ETH] United – The needs of the many outweigh the needs of the few

Parity technologies made a statement today that it will not be implementing the much controversial EIP 999 code. The implementation of the code would have led to a split in the Ethereum community following a fork in the blockchain as reported on the 24th of April. A poll was held last week to see if Ethereum users want the EIP 999 to be implemented. 60% users voted against the proposal for the execution of the code.

Last year in November, in Parity’s multi-signature wallet a bug had compromised its functionality. The activation of the bug caused havoc to 500 users and froze their wallets. The wallets anchored 513,000 ETH which was worth $150 million, with respect to the current value of ETH the value has shot up to $ 260 million.

Following the events of the poll, CEO’s of the competing software of Ethereum: Geth and Parity took an opposing stance. The community of Ethereum went under a major upheaval due to the wild news of Ethereum’s possible split. Since the decision is confirmed from Parity not implementing the EIP 999, its reported that the company might be looking for a way to refund or compensate the losses of funds last year.

CEO of Parity technologies, Jutta Steiner says:

“The company has no intentions to split the Ethereum chain, rather looking forward to work with the community” and then ” We have all dedicated a great deal of time and effort to developing the Ethereum ecosystem and have no intentions of harming what we have built”

Parker, a crypto-critic says:


“What about the people who lost their $ 260 million to the bug? What If this whole act of splitting Ethereum was a move by parity to avoid the implementation of EIP 999- returning people their money”

Kal El, the Zac commented in an online forum saying:

“The community of ethers are in millions. Some people believe the bug that was unintentionally activated by a dumb user was staged as it was purposed to freeze all accounts. Parity needs to refund the loss faced by Ethereum users, if they need people to trust them.”

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