There are quite some intriguing developments to be found in the world of bitcoin and cryptocurrencies. Parity Technologies has released their Bitcoin technology stacks, which also features a new implementation of the Bitcoin protocol. This client is focused on performance and reliability. Now is a good time to take a closer look at that what the Parity Bitcoin client is all about.
Parity Bitcoin Client Is An Intriguing Project
It is not surprising to find out a lot of people have no idea what the big deal is regarding this project. Parity Technologies is a business venture comprising of a large number of developers who created Ethereum and its commercial implementation. This team has also taken a keen interest in bringing improvements to the Bitcoin protocol, as it suffers from issues regarding performance and reliability, in their opinion.
What the Parity Bitcoin client does is address these problems and do so in an open manner. The source code of the project can be found on GitHub, which allows anyone in the world to build on top of this existing codebase moving forward. The entire project has been built from scratch, with a strong focus on proper software development. Moreover, it is fully compliant with the legacy Bitcoin implementation.
It is also worth mentioning the project is written in the Rust coding language, which is both fast and secure at the time same. In fact, the ZCash team has been using Rust as well in recent months. This new coding language offers speed improvements at any code and seems capable of allowing developers to introduce a lot of new features in the future.
Moreover, quite a few parties have been supportive of the development of the Parity Bitcoin client. F2Pool, Bitmain, and Bixin are some of the initial sponsors of this venture. Parity Technologies is a VC-funded enterprise, and their Parity Ethereum client has received a lot of praise since its release. Moreover, the Ethereum client can be integrated directly into a browser, and the same now applies to its Bitcoin counterpart.
While the Parity Bitcoin client is mainly designed as the new go-to solution for developers, it is also a good addition to the list of alternative protocol implementations. We have highlighted several of those implementations in the past, including the likes of Bcoin, btcd, and others. A growing diversity of bitcoin protocol implementations can only be seen as a positive development.
Moreover, the Parity bitcoin implementation can bring us one step closer to a successful integration of Schnorr signatures for bitcoin users. As we talked about earlier, Schnorr signatures provide additional features to bitcoin users all over the world. Parity Bitcoin can serve as a test bet ecosystem to test the viability of such an implementation before it becomes part of the main Bitcoin protocol.
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