The highly anticipated "ApeChain," a dedicated blockchain for the Bored Ape Yacht Club (BAYC) ecosystem, has chosen leading layer-2 network Arbitrum.
The highly anticipated "ApeChain," a dedicated blockchain for the Bored Ape Yacht Club (BAYC) ecosystem, has chosen leading layer-2 network Arbitrum. After a community vote, the ApeCoin DAO, the community governing the APE token, opted for Arbitrum's layer-2 scaling solution over proposals from Polygon and zkSync.
This decision culminates a two-year process initiated by BAYC creator Yuga Labs, driven by the infamous Otherside metaverse land sale in 2022. The sale's immense demand clogged the Ethereum mainnet, resulting in $157 million in gas fees for users. Last week's free Otherside-related NFT mint giveaway further highlighted the need for scalability, as users faced frustration due to high fees.
Scaling networks like Arbitrum promise significant cost reductions and faster transactions, crucial for enabling mass-market adoption of blockchain applications like games. As such, the ApeChain, targeted for a Q2 2024 launch, will utilize Arbitrum technology to offer a cheaper and more efficient alternative to the Ethereum mainnet.
While finer details are still under discussion with the ApeCoin community, both Offchain Labs (creators of Arbitrum) and Horizen Labs (original APE token developer) express readiness to move forward. This collaboration marks a significant win for Arbitrum, solidifying its position as a preferred scaling solution within the booming BAYC ecosystem.
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