Ethereum

Solana

Rune

Cosmos

Ethereum co-founder Vitalik Buterin recently made headlines by liquidating his remaining stake in MakerDAO, valued at approximately $580,000.   
This move came on the heels of MakerDAO co-founder and CEO Rune Christensen's public endorsement of the Solana blockchain's codebase and his vision for a potential migration of MakerDAO to a new blockchain known as NewChain, derived from Solana.   
Vitalik Buterin's sale of his MakerDAO tokens took place on the CoW protocol, where he successfully exchanged his entire stake of 500 MakerDAO tokens for 353 ETH. According to blockchain data, this transaction had an approximate value of $580,000.   
Rune Christensen's decision to explore the possibility of migrating MakerDAO to NewChain generated significant interest.   
In a detailed blog post, he outlined his long-term aspirations for MakerDAO's evolution on a blockchain generated from Solana's codebase.   
Such a transition from Ethereum's Solidity-based infrastructure to Solana's Rust-based codebase represents a pivotal shift in the project's trajectory.   
In his blog post, Christensen provided three key reasons for his confidence in the Solana codebase as the foundation for NewChain.   
First, he highlighted Solana's technical quality and optimization, making it promising for future MakerDAO endeavors.   
Second, he emphasized Solana's resilience, demonstrated during the 'FTX fiasco,' showcasing its robustness in the face of challenges. Finally, he cited successful forks from Solana, such as the Pyth network, as evidence of its potential.   
One intriguing aspect of Christensen's vision is the potential role of MakerDAO's NewChain as a secure bridge connecting the Ethereum and Solana ecosystems.   
This inter-chain connection has the potential to significantly enhance the network effect within the broader multi-chain economy, creating exciting opportunities for decentralized applications and cross-chain transactions.   
Christensen's considerations go beyond Solana, as he also acknowledges Cosmos as a strong contender for NewChain's codebase.   
This acknowledgment underscores the complexity of the decision-making process in selecting the most suitable foundation for MakerDAO's future development.   
The strategic moves made by influential figures like Vitalik Buterin and Rune Christensen are sending ripples throughout the industry.   
Buterin's decision to divest from MakerDAO reflects the evolving trends in the blockchain landscape, emphasizing the significance of staying abreast of emerging developments and technical considerations.   
It's crucial to recognize that the choice between Solana and Cosmos is not binary. Instead, it showcases the diverse options available in the blockchain landscape, each with its own unique strengths and features. The final decision will hinge on a careful evaluation aligned with MakerDAO's long-term vision.  
The post <a rel="noopener noreferrer nofollow" href="https://optimisus.com/news/crypto-news/ethereum-co-founder-vitalik-buterin-sells-makerdao-stake/">Ethereum Co-Founder Vitalik Buterin Sells MakerDAO Stake</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://optimisus.com">Optimisus</a>.

Ethereum Co-Founder Vitalik Buterin Sells MakerDAO Stake

Optimisus

Other articles published on Sep 4, 2023

Inside India's Crypto Landscape: WazirX's Menon Explores Global Regulations

Binance’s Entry Followed by Increased Scrutiny on Foreign Executives in Korean Crypto Firms

Binance CEO CZ Predicts DeFi to Outshine CeFi in Upcoming Bull Run

Quant Returns Above The Support Of The Range of $97

Stellar Price Prediction as XLM Rockets Up 10% Overnight – What's Going On?

ADA Fundamentals Suggest It Could Reach a New ATH: Analyst

Join our free newsletter for daily crypto updates!