Solana’s role in MakerDAO’s NewChain sparks controversy 

Posted: September 5, 2023

• Solana is being thought of as MakerDAO’s Endgame plan nears completion
• SOL has trended positively for 3 consecutive days

Solana was chosen by MakerDAO as the popular blockchain for his or her upcoming part, inflicting a dispute to erupt between the Solana and Ethereum communities. It wasn’t shocking then that the Co-founder of Solana needed to come out and share his perspective on the matter.

– How a lot are 1,10,100 SOLs price immediately

Solana thought of for MakerDAO’s NewChain

Over the previous week, tensions flared up between the Solana and Ethereum communities attributable to a current improvement. Rune Christensen, Co-founder of MakerDAO, revealed that the Endgame part is reaching its last phases. He additionally disclosed that the final a part of Endgame would contain launching a local blockchain for Maker, codenamed NewChain. 

Nonetheless, tensions emerged when it was proposed that Solana ought to function the inspiration for NewChain. Christensen argued that this selection is predicated on its sturdy technical deserves and resilience following the FTX incident. He additionally pointed to profitable tasks that had forked its codebase. This proposal implied that Maker, which has been on Ethereum since its inception, may probably migrate to Solana. 

In response to this Maker developer’s passionate reactions, Anatoly Yakovenko shared a message urging the neighborhood to not assault Ethereum.

How the Solana community has held up

Whereas MakerDAO’s proposal may considerably profit the Solana community, it has additionally sparked considerations about its stability. However, the community’s current efficiency has remained secure for over six months.

On the time of writing, the community’s uptime was 100%, as per Solana status. If the community can persistently preserve this degree of uptime, it might lastly tackle the persistent criticism of frequent downtime, one which has been a weak spot of the community up to now.

How SOL reacted to the most recent improvement

The newest improvement triggered a optimistic development for Solana when analyzing the every day timeframe chart. Nonetheless, this optimistic development highlighted a modest enhance of simply lower than 1%.

At press time, the scenario had improved, with SOL buying and selling at roughly $19.7 on the charts, representing an appreciation of >1%. This marked the third consecutive day SOL has been buying and selling within the optimistic zone. 

Supply: TradingView

– Life like or not, right here’s SOL market cap in BTC’s phrases

However, regardless of this current rally, it was inadequate to tug SOL out of its long-term bearish development. The Relative Power Index (RSI) hovering beneath the 40-mark on the charts merely highlighted the identical.