Parity Adds Support for Private Transactions and Encrypted Contracts

The implementation of  Private Transactions lets users store, modify, and view code
17 May 2018   492

Ethereum client Parity has released 1.11 Beta version, which now allows users to create encrypted contracts and transactions on-chain and warp-sync to specific blocks. 

The implementation of  Private Transactions lets users store, modify, and view code. Only those users who have permissions viewable by anyone can have access to all contracts and transactions with private transactions on public chains. Moreover, they can work with others in the open behind strong encryption.

Also, Parity has improved Warp Sync to let users get their node up to speed by downloading snapshots of the current state. The users can jump to a minimum block number to make sure they are getting the latest possible snapshot, and built-in safeguards to prevent them from falling back to normal sync methods.

The Parity Ethereum transaction queue implementation was optimized in order to increase performance significantly, and now transaction verification is done in parallel.

Previously, we have reported that Parity Technologies issued a statement, according to which they did not plan to implement EIP 999 code change that could lead to a split of the Ethereum blockchain.

Parity to Update After Critical Bug Discovered

The bug could affect about 30% of the participants in the Ethereum network
07 June 2018   493

In a test environment, which is used by Paity, a critical error was detected and fixed. This is reported by Coindesk.

As noted by representatives of Parity Technologies, when the software was launched, synchronization hasn't started, as a result  other network participants could not recognize their transactions. The vulnerability was found in the testnet, but there was a possibility of its spread to the entire network Ethereum.

Parity urged all users to update the software to a new revised version.

It is assumed that the bug could affect about 30% of the participants of the Ethereum network, which use software from Parity. Representatives of the company claim that it was patched before reaching the node of Ethereum's network. However, network members had to update the software to eliminate the vulnerability.

Several companies, including the Bitfly Mining Pool, have already said they updated their software to a new version (1.10.6-stable or 1.11.3-beta), but the bug can still complicate the work of the blockchain with the Parity software, including for Ethereum Сlassic (ETC ) users.

The bug is related to a part of the code from EIP 86.

We missed a conditional check in our code that caused full node Parity to accept a block containing invalid transactions.

Wei Tang
Developer, Parity

EIP 86 was planned to be used to update Ethereum last year, in particular for integration into the "account abstraction" blockchain system, which will allow transactions without the sender's signature. A full update was postponed due to its complexity, but its code was added to the Parity client.