Saturday, July 13, 2024

Ava Labs wants to move Otherside and ApeCoin to Avalanche.

ApeCoin would be great as an Avalanche subnet, says Emin Gun Sirer, the founder and CEO of Ava Labs. He believes it will benefit from the superior performance of its dedicated chain on the fastest consensus protocol. Sirer said the coin would have an additional use case that would boost its market and regulatory stance.

In an official forum, he highlighted that Avalanche subnets deliver the necessary speed, security, low fees, and customizability for the ApeCoin community to future-proof its infrastructure.

This proposal came from Yuga Lab’s Otherside, a metaverse game, that yielded over $300 million in primary sales. This saw OpenSea record its best single all-time day of secondary trading. However, the mint process was widely panned for jacking up Ethereum gas fees. There was a backlash from high-profile collectors who described it as a nightmare scenario. They called Yuga Labs’ response tone-deaf.

Avalanche is a rival blockchain to Ethereum. It’s touted as the best. If all goes well, Otherside and the ApeCoin ecosystem could migrate to Avalanche. This network boasts of cheaper and speedier transactions. It also has unique subnets to its advantage – ready-made for games.

Sirer tweeted that ApeCoin would be fantastic as an Avalanche subnet. It would benefit from superior performance. Philip Liu, Ava Labs Head of Strategy, also believes that Avalanche is best suited to power the Bored Ape metaverse and the ApeCoin token. Liu highlighted that Avalanche subnets is likely the one solution that can allow the Ape community to spin up their own custom network. He described Avalanche as the fastest with the most stable and reliable technology.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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