Parity Confirms Departure from Ethereum Following Move to DAO

On December 16, 2019, Parity Technologies announced that its Ethereum client, Parity Ethereum, would be maintained by a decentralized autonomous organization (DAO). Without the proper funding, however, critics pointed out that the project will likely collapse.

Stepping back even further, the move highlights the ever-growing divide between Parity and Ethereum ecosystem at large.

Transitioning to OpenEthereumDAO

Parity Technologies, erected by Ethereum co-founder Gavin Wood in 2015, announced via a press release that they would end their maintenance efforts of the Parity Ethereum codebase. 

Parity Ethereum is one of many Ethereum clients, otherwise known commonly as nodes, that users need to verify a blockchain’s data including its smart contracts. Other clients include Geth, Nethermind, Hyperledger’s besu, and Trinity to name a few. 

The organization reported on Monday that they are “increasingly unable to dedicate the level of resources required for even simple maintenance” of Parity Ethereum adding that: 

“We find it increasingly difficult to explain to our stakeholders why it makes sense to dedicate our expertise to maintaining legacy technology.”

Instead, the codebase will transition to a DAO in which developers who rely on Parity Ethereum can take over maintenance. 

The license for maintaining the project’s development will also be handed off to the DAO, and Parity Technologies will oversee the project from “a more explicit mentorship role,” according to the release. The new project is now being called OpenEthereumDAO.

As with many DAOs, the governance model will be incentivized by tokenization. Following Parity’s distribution of these tokens, holders will manage further development of Parity Ethereum via a staked-voting mechanism. Interested parties can apply to work on this code via several organizations including the Ethereum Foundation, Gnosis, POA Network, and ETC Labs

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