Parity wallet review
United Kingdom
- Overview
- Security
- User Experience
Parity is an Ethereum based wallet designed for companies and individual users. It offers a customized interface which allows the user to immediately recognize their interface making it impossible for another site to pretend to be the signer. Parity is the platform of choice for developers and users of decentralized APPS. The wallet is intended for technical users since it offers complex features.
With Parity, Ethereum accounts can be easily recognized by introducing the receiver's email address and transactions are made instantly between users. Since it is a full-node wallet, the consumer can store Ethereum and ERC-20 compliant Initial Coin Offerings (ICOs).
Company / organization behind the wallets
Parity wallet was designed by Parity Technologies, a UK based company, founded in 2015 by Jutta Steiner and Gavin Wood, one of the inventors in Ethereum. They opened two more offices in Berlin and Moscow. Their purpose was to "build software based on new peer-to-peer technology to power this future decentralized web".
In 2017, Parity reported a breach where hackers seized $32 million in Ethereum. All users were reimbursed and the vulnerability was resolved. Accounts can be easily recovered using a recovery phrase. Parity offers the Vault option allowing users to lock their account and cold-storage solutions, like the integration with Ledger Nano S hardware.
Parity wallet is very easy to use. Users can create an account without too much of a hassle. Transactions are fast and the wallet address can be easily replaced by the receiver email. It's designed for all type of consumers and has a clean interface.
Summary:
Parity is an important player on the Cryptocurrency software market. This full node wallet allows users to manage Ether and ERC-20 tokens. After Parity suffered a security breach in 2017, the company successfully implemented multiple security measures and cold storage options.