MakerDAO Explores Solana's Codebase for Native Chain Development

Rune Christensen's Proposal to Utilize Solana's Codebase Rune Christensen, co-founder of MakerDAO, has proposed a groundbreaking proposal to develop MakerDAO's upcoming native chain.

Timeline of Maker, Solana

In a recent blog post, Rune Christensen, the co-founder and CEO of MakerDAO, outlined the project's long-term vision, which includes a significant shift in its underlying technology. Christensen proposed that MakerDAO could be re-implemented on a new blockchain called NewChain.

Cryptocurrency exchange FTX, which underwent a significant change in management following its bankruptcy in November 2022, is drawing attention due to the movement of its substantial Solana (SOL) holdings. Recent data shared on Twitter revealed that FTX's cold storage wallets, identified through the blockchain explorer Solscan, began transferring SOL tokens.

Rune Christensen, the co-founder of MakerDAO, proposed a significant shift in the project's technological foundation. Christensen suggested that MakerDAO's upcoming native chain, known as “NewChain,” should be developed using a fork of Solana's codebase rather than the Ethereum Virtual Machine (EVM).

As the bullish sentiment around the Bitcoin ETF started to fade, the crypto market witnessed a sudden downturn in a majority of prominent digital coins. The price drop recuperated the bearish momentum in the market indicating the downward trend may continue in the coming days.

Rune Christensen stated that Solana's codebase should be the foundation of MakerDAO's upcoming blockchain, as he highlighted that it's optimized for building “highly efficient blockchains.”

A widely followed crypto analyst says that Solana (SOL) has enormous upside potential in the next bull cycle. In a new video update, Coin Bureau host Guy Turner says that Solana could go on a huge rally as other digital asset projects compete against SOL in the crypto space.

In the times when the crypto markets have remained quiet, floating around the market capitalization of $1.05 trillion, Maker (MKR) has successfully held the gains that the other altcoins lost in the recent plunges.

“The more broken a staking model and design is,” Chorus One chief information officer Xavier Meegan says, “the more urgent a liquid staking solution is needed for that network.”

In an unexpected turn of events, the brains behind the brilliant Solana-based innovative contract automation program, Clockwork, have revealed their decision to remove critical platform infrastructure.

Over the last six weeks, the Solana coin has undergone a notable correction phase. Commencing from its peak at $32.13, the cryptocurrency's value has declined 36.8%, leading to its present trading price of $21.39.