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MakerDAO Plots New AI-Inspired Blockchain, Publishes Roadmap

UTC by Mayowa Adebajo · 2 min read
MakerDAO Plots New AI-Inspired Blockchain, Publishes Roadmap
Photo: Depositphotos

The new blockchain called NewChain will be closely linked with Ethereum, promising increased governance security of the ecosystem.

MakerDAO, the issuer of the DAI stablecoin, has revealed its plans for a major update it calls the “Endgame”, this follows after the platform recently published a detailed roadmap of the upcoming update.

According to the May 11 announcement, the update will take place in five phases and will effect changes that will use artificial intelligence (AI) tools and ultimately lead to the creation of a new blockchain. Part of the publication reads:

“The update will use AI tools and apply them to open and scalable processes.”

MakerDAO Seeks to Create the Most Widely-used Stablecoin

Meanwhile, per the roadmap it published, MakerDAO is looking to ensure that the project creates the world’s most widely-used stablecoin in the next three years. To achieve this, Endgame will seek first to streamline the Maker Ecosystem by uniting the Maker governance token (MKR) and the Dai stablecoin (DAI).

MakerDAO co-founder Rune Christensen has also shed more light on the platform’s plans. According to him, the first phase of streamlining will be done under a new unified brand identity. And it is at this stage that the new unified tokens will also be released. Users, however, have the option to upgrade their old tokens or not.

The next phase will see Maker launch 6 new SubDAOs that can be farmed by users. Christensen says these SubDAOs will enable permissionless innovation and collateral allocation. With this plan, Maker hopes to remove costs and reduce complexities that may arise from daily operations.

In the next phase, MakerDAO will introduce AI tools that will allow governance monitoring.  This is when users will be able to summarize and generate governance proposals, albeit with the aid of AI. It must be noted, however, that only those who hold Maker’s new tokens will have access to this feature.

The fifth will see MakerDAO introduce incentives for partaking in governance. And, lastly, it will launch a new blockchain in the sixth stage. According to Christensen, the new blockchain called NewChain will be closely linked with Ethereum, promising increased governance security of the ecosystem.

Artificial Intelligence, Blockchain News, Cryptocurrency News, News, Technology News
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