Ethereum Founder Gavin Wood Unveils Bitcoin Client

Announcements, Blockchain, FinTech, ICO News, Innovation, Investing, News | May 2, 2017 By:

Blockchain firm Parity Technologies has released new bitcoin technology stacks which also feature a new implementation of the bitcoin protocol.

Parity is the latest company from Gavin Wood, the founder of ethereum, and is backed by Blockchain Capital’s Digital Liquid Ventures fund as its first investment following a $10 million initial coin offering.

Last year, the company proposed Polkadot, a protocol which will securely connect private blockchain deployments to the public ethereum ecosystem. Wood said that Rust’s clean code, performance, and reliability will make Parity Bitcoin the go-to platform for developers.

“Parity’s implementation is an excellent addition to a growing number of bitcoin implementations,” said Wood. “The diversity and choice better represent the different participants in the eco-system, allowing everyone to adopt a solution that works for them. We’re really glad to hand this to the bitcoin developer community and hope the fresh start can form a springboard for innovation. We’d love to work with other bitcoin protocol folk to get key improvements like Schnorr signature schemes widely adopted.”

The Parity Bitcoin client (Pbtc) is written in Rust. The client is a full bitcoin node much like the existing software. The only difference is the protocol is written in a different programming language.

The client stack can act as a wallet, verifying node, and also import bitcoin using the command line. The computer hosting the Parity client also needs to install Rust 1.16.0 and Cargo software in order to use the new protocol with the Rust codebase.

The protocol is fully compliant with the legacy bitcoin reference implementation and built from the ground up. The software is released under Free software license GNU GPL, allowing other projects to fork and build on top of the codebase.