Yugocean
Valued Contributor
Apecoin and Yuga Labs NFT community have opted not to leave Ethereum's network due to the exorbitant fees of the Ethereum blockchain.
Yuga Labs rendered the Ethereum network unworkable during a virtual land sale in May 2022, this was an attempt to avoid the high gas fees, but instead this pushed users to spend even more for individual transactions.
Yuga Labs later apologised and requested that their chain be migrated from Ethereum to another network to such avoid future disasters. In the crypto industry, this resulted in reports of NFT's exit from the Ethereum blockchain, but nothing of the sort transpired in the end.
Based on the inconvenience created in May, the majority of community members felt that migrating to another blockchain would be too costly and unsafe. That was Ethereum network's luck, during the voting, 54 percent of participants voted to keep the project within the Ethereum ecosystem, deferring the decision to migrate.
Yuga Labs rendered the Ethereum network unworkable during a virtual land sale in May 2022, this was an attempt to avoid the high gas fees, but instead this pushed users to spend even more for individual transactions.
Yuga Labs later apologised and requested that their chain be migrated from Ethereum to another network to such avoid future disasters. In the crypto industry, this resulted in reports of NFT's exit from the Ethereum blockchain, but nothing of the sort transpired in the end.
Based on the inconvenience created in May, the majority of community members felt that migrating to another blockchain would be too costly and unsafe. That was Ethereum network's luck, during the voting, 54 percent of participants voted to keep the project within the Ethereum ecosystem, deferring the decision to migrate.
