Error Correcting Ram (ECC) is capable of detecting and correcting errors in memory (RAM). It does use parity but does not alert a user if an error is found. It is also common in servers but this is because of it's error correcting capabilities and not due to increased speed or clock rate.
Error correction code memory (ECC memory) is a type of computer data storage that uses an error correction code (ECC) to detect and correct n-bit data corruption which occurs in memory. ECC memory is used in most computers where data corruption cannot be tolerated, like industrial control applications, critical databases, and infrastructural memory caches.
Typically, ECC memory maintains a memory system immune to single-bit errors: the data that is read from each word is always the same as the data that had been written to it, even if one of the bits actually stored has been flipped to the wrong state. Most non-ECC memory cannot detect errors, although some non-ECC memory with parity support allows detection but not correction.