HomeBlockchainWhy MakerDAO Eyes Solana for Its Future Blockchain, NewChain

Why MakerDAO Eyes Solana for Its Future Blockchain, NewChain

Rune Christensen, the chief govt officer and co-founder of MakerDAO, introduced plans to think about Solana’s codebase because the groundwork for NewChain, Maker’s forthcoming standalone blockchain.

This revelation got here throughout a dialogue the place Christensen extensively outlined the potential synergies between MakerDAO’s bold Endgame undertaking and Solana’s technological prowess.

MakerDAO Explores Forking Solana

NewChain is a part of MakerDAO’s long-term strategic undertaking generally known as Endgame. Christensen underscored its significance by stating that NewChain would be the spine of Maker Protocol and its SubDAOs.

As soon as full, the brand new blockchain goals to bolster system safety and operational effectivity considerably.

“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,” Christensen stated.

Learn extra: Maker (MKR) Worth Prediction 2023/2025/2030

Not like the layers of patches and updates of older blockchains, NewChain may have the benefit of a clear slate. Subsequently, it could actually gracefully get well from governance assaults or technical mishaps via laborious forks.

In accordance with Christensen, it goals to get rid of the accrued technical debt haunting Maker Protocol for eight years.

Why Solana and Not Different Chains?

Three main causes justify the selection of Solana as a possible cornerstone:

  • First, Solana’s codebase is designed for the excessive effectivity and singular focus that NewChain requires. It advantages from the hindsight of blockchain know-how’s evolution, fixing the bottlenecks and challenges that earlier blockchains failed to handle.
  • Second, regardless of previous hurdles such because the FTX blowup, Solana has displayed exceptional resilience, rising stronger with a thriving developer group. This tenacity lowers the prices for improvement and upkeep whereas it ensures a steady pool of high-quality expertise.
  • Third, Solana’s adaptability for specialised wants has already been confirmed via initiatives like Pyth, which operates its backend on a modified model of Solana.

Christensen envisions a future the place Maker and Solana domesticate a symbiotic relationship. By forking Solana, Maker can entry an expansive pool of developer expertise, enriching the ecosystem whereas benefiting from it concurrently.

Moreover, Christensen advocates the institution of a “Two-Stage Gravity Bridge” between NewChain, Solana, and Ethereum. Such a bridge would prolong Solana’s native DeFi options and capital and sew them collectively. The objective is to strengthen the safety and community impact throughout the whole multichain economic system.

Learn extra: How Solana Competes with Ethereum: Plans for Mass Adoption

Though Solana matches the invoice completely, Christensen talked about Cosmos as one other contender, noting its massive and extremely expert developer group.

Nonetheless, Cosmos lacks a centralized basis, and its structure doesn’t prioritize effectivity at its core. This inherent distinction may lead to larger upkeep prices, making Solana extra interesting to MakerDAO’s particular wants.

NewChain, estimated to be not less than three years within the making, indicators MakerDAO’s dedication to staying forward of the curve. By aligning with Solana, MakerDAO has recognized a strong ally and set a precedent for different blockchain initiatives.

Disclaimer

In adherence to the Belief Mission tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nevertheless, readers are suggested to confirm information independently and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material.

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