HomeTechnologyMakerDAO CEO Proposes Utilizing Solana’s Codebase For NewChain

MakerDAO CEO Proposes Utilizing Solana’s Codebase For NewChain

Rune Christensen, the CEO of MakerDAO, has proposed utilizing Solana’s codebase as the inspiration for the protocol’s future blockchain, NewChain. 

In accordance with Christensen, Solana stands out amongst others due to its total technical excellence, adaptability, and resilience, and is a promising base for creating NewChain. 

MakerDAO Exploring Forking Solana?

MakerDAO’s NewChain is a part of the protocol’s long-term technique, known as Endgame. Endgame goals to enhance MakerDAO’s governance and make the protocol self-sustaining in the long term. The technique was set in movement in Might 2022, with MakerDAO neighborhood governance voting in favor of the Maker Structure. Endgame consists of 14 Maker Enchancment Protocols (MIPs), which collectively create guidelines and the framework to facilitate the launch of Endgame. It has been break up into 5 phases, and the ultimate section, section 5, will see the deployment of a brand new chain, now known as NewChain. NewChain will act as a hub for backend instruments that will likely be supporting MakerDAO. 

In an ecosystem dialogue held on Friday, CEO Rune Christensen said, 

“The most important reason for why NewChain is needed is that it will allow the ecosystem to use hard forks to gracefully recover from the most severe form of governance attacks or technical failures.”

Why Solana? 

He additional added why he believed Solana was the perfect candidate, stating, 

“The last phase of Endgame is the launch of a native blockchain for Maker with the codename NewChain. It will make the ecosystem more secure and efficient. After some research, I believe the Solana codebase should be considered as the basis for NewChain.” 

In contrast to older blockchains, NewChain may even have the benefit of getting a clear slate. This implies within the occasion of any technical fault or governance assaults, the chain needs to be straightforward to get better. A number of elements justify Solana’s choice because the potential basis for NewChain. The blockchain’s codebase is designed for top effectivity, which is a requirement for NewChain. It additionally solves issues and challenges that earlier blockchains failed to handle. Solana has additionally displayed distinctive resilience and has a thriving developer neighborhood. The third purpose is Solana’s adaptability, which has already been confirmed by means of initiatives reminiscent of Pyth. 

A Symbiotic Relationship 

If the MakerDAO neighborhood votes in favor of the proposal, Christensen has argued that Maker and Solana may concentrate on cultivating a symbiotic relationship. A Solana fork would permit Maker to entry developer expertise and enrich the ecosystem. Christensen additionally advocated the institution of a “Two-Stage Gravity Bridge” between Solana, Ethereum, and NewChain. Christensen said that such a bridge would supply a helpful increase to the community impact of the multichain financial system. 

“It would be strategically beneficial to ensure there is a Two-Stage Gravity Bridge from NewChain to Solana alongside the bridge from NewChain to Ethereum. It would also provide a useful boost to the network effect of the entire multichain economy.”

One other Contender 

Whereas Solana appears to be an ideal match for NewChain, Christensen has additionally talked up Cosmos as one other contender. He additionally famous the massive and intensely expert developer neighborhood on Cosmos. Nonetheless, Cosmos lacks a centralized basis and doesn’t prioritize effectivity. This might end in greater upkeep prices in the long term, making Solana extra interesting. 

“Cosmos also doesn’t have a strong central foundation organization like Solana has, which could be either a good or bad thing.”

Disclaimer: This text is supplied for informational functions solely. It’s not provided or supposed for use as authorized, tax, funding, monetary, or different recommendation.

Supply: https://cryptodaily.co.uk/2023/09/makerdao-ceo-proposes-using-solanas-codebase-for-newchain


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