Parity Urges ‘Rescue’ Fork to Reclaim Frozen Millions

Parity Technologies has just released a proposal for reclaiming its lost funds.

In a blog post published soon before press time, the ethereum software company confirmed that a hard fork will be necessary in order to reactivate the $160 million-worth of ether (ETH) that was frozen last month due to a fault in the code.

The company wrote:

“No one should be under any illusion that unlocking these stuck funds would be anything other than a rescue operation – and would only be possible with a hard fork.”

Parity revealed that its preferred fix would be made via protocol changes to the ethereum virtual machine (EVM). According to the blog post, this would be as a “functional enhancement to the platform” that would both restore the lost funds and protect against similar cases in future.

According to the blog post, there are four such protocol changes currently under review.

As previously detailed by CoinDesk, EVM protocol changes are a contentious solution. Speaking at the time, the idea was criticized by ethereum developer Nick Johnston, who said it would “change an important invariant” in the EVM, leading to “unexpected bugs, even in already-deployed contracts.” […]

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