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ApeChain: Bored Ape Yacht Club Leaves Ethereum?

 


After Bored Ape Yacht Club's successful sale of digital properties, they are now considering leaving Ethereum and creating their own blockchain: ApeChain. This should guarantee the scalability of the colorful ecosystem and make the Bored Apes ready for the mainstream.


Is it time for an ApeChain? On 4/30/2022, Bored Ape Yacht Club's long-awaited digital property sale took place. With this you want to create your own metaverse, “The Otherside” . In this you should be represented by your own NFTs and have the opportunity to trade digital assets via real money. This model is strongly based on the gaming industry.


But the NFT drop was not without problems. The demand for the 55,000 Otherdeeds (as the virtual pieces of land are called) was so great that interested parties were confronted with horrendous transaction fees and even Etherscan gave up the ghost. Unfortunately, many of the potential customers went away empty-handed and had to switch to the secondary market.


In addition, the Otherdeeds could only be purchased via $APE or ApeCoin . The fact that these lost value and failed transactions caused high costs left a bitter aftertaste for many of those who left empty-handed. Yuga Labs responded to a prompt announcement that they will refund all failed transactions.



A separate ApeChain should enable the scalability of BAYC

Although Ethereum functioned smoothly during the NFT drop, it once again brought up the scalability debate. Sufficient scalability is a problem that the blockchain community is working on at full speed and that no blockchain has yet mastered.


Because as soon as there is high activity on Ethereum (or any other blockchain), significant transaction fees make the network almost unusable. Not least for this reason, Ethereum will soon switch to Proof-of-Stake in the update “The Merge” . After that it should be possible to stake ETH and get interest on it.



So it happened that Yuga Labs announced via Twitter that they wanted to start their own blockchain and turn their backs on Ethereum for the time being. This is absolutely necessary to guarantee the scalability of the BAYC ecosystem. The tweet is intended to give the Ape-DAO food for thought and encourage the collective to create an ApeChain.

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