Back in November, Ethereum’s second most popular client, Parity, was hacked. From the attack, 500,000 ETH have been compromised and there is no clear answer about how to solve the issue. There have been different proposals, votes and debates, but until now, there’s not an answer about what to do.
Parity Hack Funds – What To Do With Them?
A former partner at Andreessen Horowitz and software engineer at Coinbase, Preethi Kasireddy, said that there is “no right answer” to the Ethereum fund recovery debate. During the Ethereum community conference EDCON on May the 4th, Kasireddy said that it is time for the Ethereum community to define its collective values.
During the last weeks some developers warned that the community could split due to the lack of consensus on the matter. Of course, there are several individuals that want to avoid this outcome and are doing all what they are able to find a solution.
During the conference Kasireddy said:
“There’s no right answer obviously, because it there was a right answer we would have figured it out and move don a long time ago.”
The last month, a vote that included 4 million ETH, resulted in the opposition to restore the 500,000 ETH frozen during the parity hack. 55% percent of the votes were against the recovery, and 39,4% percent were in favour.
Kasireddy explained that a formal governance method would not be the way to solve the problem. That’s why the community needs to determine which are its core principles and make the best decision as possible.
“It’s a very culturally defining moment for Ethereum, because the answer is based on what our shared social norms are and what our shared political norms are. To be honest I don’t think we know what those are, and that’s why we’re stuck at this debate,” commented Preethi Kasireddy at the EDCOIN 2018.
Vitalik Buterin’s advice is to allow private key holders affected with specific issues to withdraw their Ether. Of course, during the process some funds may be lost due to replay attacks and other bugs.
Image: Bleeping Computer
