ApeCoin Mainnet Cancelled – Apecoin will remain on the ethereum Blockchain.

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The ApeCoin community created Proposition 41, believing that the coin should remain a part of the Ethereum ecosystem.

The proposal has now been approved by 99.91 percent of those voting, which will continue until the 9th of June. After transferring to its own chain, Yuga Labs claims that ApeCoin may be utilized.

A tweet from Yuga Labs on June 6 said that the cryptocurrency must shift to its own chain in order for ApeCoin’s growth to be possible.

ApeCoin believes that ApeCoin should remain in the Ethereum ecosystem rather than switching to an L1 chain or sidechain that is not protected by Ethereum.

Problem With Migrating to Own Blockchain

Security is one of the main concerns while Migrating from Ethereum Blockchain to Their own Blockchain

For ApeCoin, migrating to a new blockchain may be an expensive and hazardous with numerous Other Things that might result in catastrophic loss or, worse case scenario, the desertion of Yuga Labs and other organizations that would otherwise be vital to the project.