Recently, we informed our readers about the vote about the possibility of the ApeCoin project changing its environment. Some users even promoted the possibility of the APE token having its own blockchain or modified networks. It seems the community has finally decided to stay on the Ethereum network and deal with these issues. There are many factors behind this decision which we will elaborate on during this article.
The original problem being the Ethereum blockchain
The main problem facing the ApeCoin project was the congestion of the Ethereum blockchain. This was due to high demand for Otherdeed, NFT in the Otherside metric. In addition, gas costs for teacher the NFT is skyrocketed. On May 1, Yuga Labs officially announced the idea of moving the APE token to another blockchain or having its own blockchain. Not all members of the public respected this idea.
As a result the ApeCoin or AIP-41 enhancement proposal went live on June 3rd. It aimed to find out whether the APE token should stay on the Ethereum blockchain. About 53.62% voted in favor of keeping the project on the current network. Now that the results are known, the APE community can finally look forward to staying on Ethereum.
Why did the ApeCoin community want to stay on Ethereum?
In the previous article, we also explained the reasons why the public wants to stay on Ethereum. Initially, switching to another blockchain to implement was a fairly complex process. In addition, the realization is difficult and risky. This could lead to huge losses for the APE signal, especially the abandonment of Yuga Labs or even other entities.
In addition, Ethereum remains a well-established and organized system. This can compromise the persistence of APE symptoms. In addition, we can note significant progress with the blockchain Ethereum. Recently, the Rnetten testnet merged with Ethereum as one of the final steps for the blockchain for a complete transition to a Proof-of-Stake (PoS) system.
Finally, the most awaited decision from the APE community has been taken. It seems like a positive decision for all users and developers of the project. With the advent of ETH 2.0, there could be major changes for the ApeCoin project community, but also for all decentralized applications running thanks to Ethereum. A more scalable, faster and less stressful ecosystem. Benefit to all ERC-20 voucher holders. The ApeCoin community certainly needs to be willing to stay in this environment.
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Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was evident. The blockchain is definitely the universal tool of tomorrow.