Bitcoin startup Parity Technologies, which was previously called Ethcore, has announced the release of their bitcoin technology stack that includes a brand new implementation of the bitcoin protocol.

The new bitcoin client is written in the safe and fast language ‘Rust’ and boasts a level of performance and reliability difficult to find in existing Bitcoin software, the release stated.

“Parity’s implementation is an excellent addition to a growing number of Bitcoin implementations. The diversity and choice better represent the different participants in the eco-system, allowing everyone to adopt a solution that works for them,”Dr. Gavin Wood, founder of Parity Technologies, said. “We’re really glad to hand this to the Bitcoin developer community and hope the fresh start can form a springboard for innovation.”

The Parity Bitcoin is developed by the team that built much of Ethereum and its premier commercial implementation. It is completely compliant with the legacy Bitcoin reference implementation and is built from the ground up to the highest standards of software development.

The development was initially sponsored by leading bitcoin mining pools F2Pool, Bixin and Bitmain. Zooko Wilcox-O'Hearn, founder of ZCash stated that the Parity Bitcoin was a great implementation.

“Zcash is based on Bitcoin, and we've started using Rust, so we're delighted to see a full Bitcoin implementation in Rust from a good team. This kind of innovation helps move the whole ecosystem forward,” he stated.