MakerDAO is going to roll out their NewChain. It’s part of their Endgame, a long-term strategic project. So, Rune Christensen, the MakerDAO CEO, considers Solana codebase as the foundation.
This can be massive news for Solana. Christensen only sees Cosmos as another option. So, what is this NewChain from MakerDAO? And why would they choose Solana? Let’s find out more.
What Is the MakerDAO NewChain and Why Solana?
NewChain is part of the MakerDAO upgrade. This upgrade takes place in five parts. This is the final part and is part of their ‘Endgame’. However, this final part may well take another three years to complete. It will see MakerDAO in a new and stand-alone blockchain.
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 NewChainhttps://t.co/KyGxBBGlVH
— Rune (@RuneKek) September 1, 2023
This should become a fork on the Solana codebase. Christensen mentioned that he investigates a variety of chains. This included, for instance, Sui and Aptos. However, he didn’t find them compatible compared to what Solana and Cosmos have to offer.
Currently, Solana seems to have the best cards. Christensen gave three reasons why he picked Solana.
- Technical quality – ‘it is highly optimized for operating a singular, efficient blockchain‘.
- Resilient ecosystem – Solana managed to deal with the FTX debacle. There’s still a thriving developer community.
- The Solana codebase proved itself – ‘It has already forked. It also adapted to act as appchains‘.
Christensen sees these as the main reasons. That’s why he wants to explore Solana as the most promising codebase. He aims to build a symbiotic relationship with Solana’s current ecosystem.
More About MakerDAO’s Decision
This is a break with MakerDAO’s current ties with Ethereum and the EVM. Christensen sees the Solana backend as more in line with what NewChain needs. However, he still recognizes that EVM is crucial for user-facing applications.
Cosmos is another consideration. However, this doesn’t have a centralized foundation. At its core, it does not prioritize efficiency. This can result in higher maintenance expenses. On the back of this news, Vitalik Buterin sold off $500,000 worth of MKR tokens. It’s not clear if this news relates to each other.
Source: MakerDAO Forum
Conclusion
In a rather surprising move, MakerDAO seems to be looking for a Solana fork for their NewChain. Co-founder Rune Christensen gave three compelling reasons why he picked Solana. Building the new chain may take another three years, though. It’s a significant break with Maker’s current Ethereum and EVM ties.
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