Solana co-founder backs Ethereum amid MakerDAO fork consideration Solana co-founder backs Ethereum amid MakerDAO fork consideration
Ethereum co-founder Vitalik Buterin sold all his MakerDAO's MKR tokens in reponse to the news.
2 min read
Updated: Sep. 4, 2023 at 9:51 am UTC
TechCrunch / CC BY-SA 2.0 / Flickr. Remixed by CryptoSlate
Solana’s (SOL) co-founder, Anatoly Yakovenko, has cautioned the blockchain community against harboring resentment towards Ethereum (ETH) following recent praise from MakerDAO’s (MKR) CEO, Rune Christensen.
MakerDAO is considering Solana
In a recent blog post, Christensen unveiled the MakerDAO Endgame plan’s final phase, revealing a comprehensive reimagining of the DeFi protocol on a novel forked version of Solana, which will be named NewChain.
Christensen highlighted Solana’s technical prowess and optimization as factors that make it ideal for his platform’s blockchain network. Additionally, he noted that Solana has demonstrated impressive resilience despite the issues it faced due to FTX’s collapse, bolstering its position with a thriving developer community. This robust ecosystem reduces development and maintenance costs and guarantees a consistent pool of top-tier talent.
Christensen further hinted that NewChain could serve as a vital bridge connecting Ethereum and Solana. He wrote:
“Because we benefit from the core Solana ecosystem being resilient, 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.”
Yakovenko says Maker plan is a ‘win for open source’
Following the revelation, some crypto community members interpreted Maker’s choice as a victory for Solana while simultaneously mocking Ethereum.
However, Yakovenko urged caution, saying Maker’s consideration was a win for open-source technology and had “nothing to do with Solana’s mainnet or sol vs. eth.” He added:
“Ethereum is awesome. Solana wasn’t built in a vacuum, and tons and tons of things that make Solana special were built based on Ethereum’s r&d.”
Buterin dumps all MKR tokens
On the other hand, Ethereum co-founder Vitalik Buterin sold all his MKR tokens for 353 ETH, around $581,000, through CoW protocol DEX, according to Arkham Intelligence’s dashboard.
Many are pondering the underlying motive for the sale, with many speculating that this might be a retaliatory action. However, this seems unlikely, considering Buterin’s prior endorsements of the Solana network.
Nevertheless, the action has attracted attention from prominent figures in the crypto community, including Justin Sun, the founder of the Tron Network.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$257.347
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Maker
$1,569.25
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the IMF’s international currency basket SDR.
Rune Christensen is Chief Executive Officer and Cofounder of MakerDAO.
Anatoly Yakovenko is the innovative mind behind Solana, a high-performance layer-1 blockchain.
Vitalik Buterin stands as the pioneering force behind Ethereum, a transformative community-driven platform that fuels the cryptocurrency ether (ETH) and underpins a myriad of decentralized applications.