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Ethereum Smart Contract Development by Mayukh Mukhopadhyay

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Parity hack demystified

Parity (https://parity.io/) is a UK-based, venture capitalist-funded, tech start-up company. They provide an Ethereum client, also called Parity, which has an extensive Ethereum wallet and DApp environment for contract deployment. The entire application is written and compiled in the RUST language. The wallets are multi-sig. Multi-sig wallets, in simple words, are wallets that require at least two separate agreements to spend a token from the wallet. These wallets are supposed to be more secure than normal single-sig wallets.

Unfortunately, on July 19, 2017, three multi-sig wallets were exploited from a total of 596 wallets with similar vulnerabilities. Figure 6.10 shows these compromised accounts in Etherscan, the ...

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