Vitalik Buterin Offloads MakerDAO Holdings After CEO's Solana Blockchain Praise – What's Going On?
Ethereum (ETH) co-founder Vitalik Buterin has offloaded his entire remaining stake in MakerDAO tokens after the project's co-founder praised the Solana blockchain.
According to blockchain data, the Ethereum mastermind has sold 500 MKR tokens on CoW Protocol, receiving 353 ETH (worth approximately $580,000) in return.
The move was ostensibly in response to a blog post by MakerDAO co-founder and CEO, Rune Christensen, which outlined the project's long-term plans for a reimplementation on a new blockchain called NewChain.
In the blog post, Christensen expressed interest in forking from the Solana blockchain, a Rust-based codebase and shifting away from the current Solidity-based Ethereum platform.
Christensen provided three primary reasons for favoring Solana's codebase for NewChain.
Firstly, he praised the "technical quality" of Solana's codebase, emphasizing its efficiency and optimization.
He claimed that this aligns well with the objective of NewChain, which aims to address the technical debt of MakerDAO.
“The Solana codebase is engineered well and benefits from being designed long after the bottlenecks and challenges of blockchains were already well understood, which fits nicely with the objective of NewChain itself in fixing the technical debt of Maker.”
Moreover, Christensen highlighted Solana's resilience and ability to overcome challenges, including the recent FTX blowup.
He said that Solana's ecosystem provides a high-quality talent pool and cost-effective opportunities for building and maintaining NewChain.
Lastly, Christensen noted that Solana's codebase has been successfully forked and adapted as appchains, suggesting that MakerDAO could follow a similar process in developing NewChain.
When questioned about his
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