MakerDAO CEO Advocates Utilizing Solana’s Codebase for Innovative NewChain Development

The Strengths of Solana

Christensen’s endorsement of Solana is based on several key strengths that make it a standout choice:

  • Technical Excellence
  • Adaptability
  • Resilience

These qualities, according to Christensen, position Solana as a promising base for developing NewChain.

Exploring NewChain and MakerDAO’s Endgame

NewChain is an integral part of MakerDAO’s long-term strategy, known as Endgame. The overarching goal of Endgame is to enhance MakerDAO’s governance and ensure its long-term sustainability. This strategic initiative commenced in May 2022 when MakerDAO’s community governance approved the Maker Constitution.

Endgame consists of 14 Maker Improvement Protocols (MIPs), collectively establishing the rules and framework for the project’s progression. It is divided into five phases, with the final phase, Phase 5, dedicated to the deployment of NewChain. NewChain will serve as a hub for backend tools supporting MakerDAO.

During a recent ecosystem discussion, CEO Rune Christensen emphasized the need for NewChain, stating, “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 Is the Ideal Choice

Christensen elaborated on why Solana stands out as the ideal candidate for NewChain:

“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.”

NewChain’s advantage over older blockchains lies in starting with a clean slate, making it easier to recover from technical faults or governance attacks. Several factors support the choice of Solana as the foundation:

  • Efficiency-focused codebase
  • Resolution of previous blockchain challenges
  • Exceptional resilience
  • Thriving developer community
  • Proven adaptability

Solana’s adaptability has already been demonstrated through projects like Pyth.

A Potential Symbiotic Relationship

If the MakerDAO community approves the proposal, Christensen envisions a symbiotic relationship between Maker and Solana. A Solana fork could provide Maker with access to developer talent and enrich the ecosystem.

“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.”

Considering an Alternative: Cosmos

While Solana appears to be a strong fit for NewChain, Christensen also considers Cosmos as another potential contender. He acknowledges the large and highly skilled developer community within Cosmos. However, Cosmos lacks a centralized foundation and may not prioritize efficiency, potentially leading to higher long-term maintenance costs, making Solana a more attractive choice.

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

Leave a Reply

Your email address will not be published. Required fields are marked *