MakerDAO Co-Founder Advocates Solana Codebase Fork for NewChain Development
MakerDAO's move signals a pivotal shift in DeFi, embracing efficiency and integration for NewChain development
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Sep 05, 2023, 18:45 IST1 min
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MakerDAO, a prominent decentralised finance (DeFi) project, is on the verge of a significant technological shift, as co-founder Rune Christensen has proposed utilising a fork of Solana"s codebase for the creation of MakerDAO"s upcoming native chain called "NewChain." This move marks a departure from MakerDAO"s long-standing association with Ethereum and aims to leverage Solana"s optimised blockchain capabilities.
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The proposal, introduced in the MakerDAO community, is part of the project"s comprehensive "Endgame" upgrade plan, spanning five phases. The final phase, featuring the development of NewChain, is expected to require around three years to complete.
Christensen envisions a mutually beneficial relationship between MakerDAO and the Solana community, suggesting possibilities for cooperation and integration. He has proposed the establishment of a Two-Stage Gravity Bridge from NewChain to Solana, along with a bridge from NewChain to Ethereum, to bolster the network effect of the entire multi-chain economy.
Christensen outlined three compelling reasons for choosing Solana"s codebase as the foundational framework for NewChain. First, he emphasised Solana"s exceptional technical quality, describing it as finely tuned for efficiently operating a single, highly efficient blockchain.
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Secondly, Christensen highlighted the resilience demonstrated by the Solana ecosystem in overcoming challenges, including the FTX incident. This resilience is seen as a valuable asset, ensuring a long-term pool of high-quality talent that MakerDAO can tap into for the project"s success.
Furthermore, Solana"s codebase has a proven track record of being forked and adapted for other projects, making it a pragmatic choice for NewChain"s development.
While the proposal is contingent on community approval, it signifies a potential turning point for MakerDAO, which has been closely aligned with Ethereum since its inception. If approved, this transition would mark a strategic shift for MakerDAO and could significantly impact the DeFi space, given MakerDAO"s prominent stature.
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Christensen acknowledged that the Cosmos SDK would be the only other contender for launching MakerDAO"s new chain. However, he argued that Solana"s efficiency and robust central foundation make it a more cost-effective choice in the long run.
This proposal has opened the door to a transformational phase in MakerDAO"s journey, challenging the status quo and embracing the efficiency and adaptability of Solana"s blockchain technology.
Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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