MakerDAO co-founder, Rune Christensen, has proposed using Solana’s codebase to build the upcoming native chain for the project. The move has led to Ethereum co-founder Vitalik Buterin selling $580,000 worth of MakerDAO’s MKR tokens in protest. This development signals a growing interest among ecosystem participants in exploring alternative platforms instead of relying solely on Ethereum, which remains the most widely adopted smart contract platform.
Solana developers claim that their platform offers scalability and energy efficiency, making it an attractive option for mass adoption. Many projects, including Elusiv, have chosen to build on the Solana ecosystem due to its scalability-focused approach. However, it’s worth noting that Solana has faced technical issues in the past, as have other blockchain networks like Ethereum.
Elusiv, a privacy protocol, aims to become the primary privacy solution on Solana, providing users with practical privacy features. The protocol allows for private token swaps, enabling users to exchange assets without revealing personal information about themselves or the transaction.
In an interview, Julian Deschler, Co-Founder of Elusiv, highlighted the recent developments in the Solana ecosystem, such as Visa’s stablecoin pilot expansion and MakerDAO’s consideration of Solana’s codebase. Deschler believes these developments demonstrate the robustness of Solana’s ecosystem and the growing interest from major players in the Web2 space.
Deschler also addressed the competition between different blockchain communities, emphasizing the importance of blockchain interoperability. He believes that open discussions and collaboration are necessary for the industry to scale and attract mainstream adoption, rather than pitting blockchains against each other.
Elusiv chose to build on Solana due to its speed, scalability, and cost efficiency, making it well-suited for mass adoption. The protocol aims to bring practical privacy features to the Solana ecosystem and accelerate the adoption of privacy-preserving technology in wallets, payment solutions, and DeFi protocols.
Elusiv’s offering differs from other privacy protocols like Tornado Cash in terms of privacy protection, programmability, and compliance. The protocol leverages cryptographic techniques, including zero-knowledge proofs, to provide users with privacy on the blockchain. It also takes a progressive approach to compliance, enabling self-regulation while maintaining user privacy.
Web3 users need better privacy due to the privacy and data sovereignty issues in Web2. While blockchain technology promises self-sovereignty and user control, the public nature of blockchain transactions undermines privacy. Privacy mechanisms are crucial for the scalability of blockchain use cases, as both users and corporations expect privacy in their transactions.
Developers and users interested in Elusiv can follow the project on social media and Discord, or visit their website at elusiv.io, where they will find upcoming announcements and more information about the protocol.
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