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Blockchain Infrastructure for the Decentralised Web

Parity Technologies Ltd is the developer of the Ethereum network client, formerly known as EthCore.

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It is led by Gavin Wood

an iconic figure in the early history of Ethereum, who was the co-founder, first CTO and chief developer of Ethereum. Wood developed the code for the first implementation of the platform, wrote its formal specification, and created the Solidity programming language.

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ETHCore

While still part of the Ethereum team, Wood and several colleagues founded EthCore, a commercial blockchain technology company. Subsequently EthCore changed its name to Parity Technologies. The company's employees created Parity Ethereum Client, and Parity multi-signature wallet.

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Substrate

According to the developers, the Substrate open source technology is "the most versatile and flexible" when creating blockchain solutions. The service API allows users to create their own consensus mechanisms, or use existing ones. Written in the Rust programming language, the Substrate tool is integrated with Parity's Polkadot interoperability protocol.

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Zcash

In June 2019, Parity Technologies introduced the first alternative client for the Zcash cryptocurrency. A new client called Zebra aims to improve the security of the Zcash network. So, if the original Zcashd client for some reason does not cope with the work, the blockchain will be supported by nodes on Zebra. In addition, with the help of an alternative client, developers will be able to identify bugs and fix defects in the consensus.

What Is Polkadot?

Parity Technologies is also behind the development of Polkadot, a protocol designed to ensure the interoperability of various blockchains. Polkadot is called one of the most promising next generation blockchains and one of the cornerstones of the Web3 ecosystem. The protocol is based on the Parity Substrate framework.The launch of the main network of Polkadot took place in May 2020, and its native DOT token is currently one of the ten largest digital assets in terms of capitalization.

Polkadot aims to address the key challenges preventing blockchain technology from becoming a full-blown practical application, namely:

Scalability

The so-called first generation blockchains cannot handle a huge number of transactions in the supposed decentralized world of the future. While the network nodes process transactions in a one-to-one format. This factor is holding back the further growth of the network.

Isolation

Blockchains remain discrete and independent, lacking two-way communication and interoperability.

Boosty Labs Cooperation With Parity Technologies

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At the beginning of 2021, we signed a partnership agreement with Parity Technologies, according to which we became certified Substrate Delivery Partners of Parity.

Substrate Delivery Partners are the skilled blockchain development agencies (dev shops) familiar with Substrate. These teams provide their expertise to deliver advanced, future-ready blockchain solutions based on Parity's Substrate blockchain framework. By utilizing Substrate Delivery Partners, enterprises and startups can reduce in-house development costs as well as time to market.

So,they were looking for the best company in the crypto industry with experience in writing Rust languages.We were recommended to them by one large American DeFi project, and so we began to cooperate with Parity.