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PulseChain: Ethereum Hard Fork chain integrated staking mechanism Mainnet has officially launched
PulseChain: Ethereum's Full State Hard Fork Chain
PulseChain is a complete state Hard Fork chain of Ethereum, preserving the complete records of every transaction, user account, and smart contract interaction on Ethereum. The platform aims to alleviate the computational pressure on the Ethereum blockchain and provide developers with a more cost-effective option.
PulseChain aims to enhance the value of the Ethereum network by offloading some of the network's burden and reducing gas fees. Compared to Ethereum's 15-second block time, PulseChain has a block time of 12 seconds, which is said to make it faster and more scalable.
The project adopts a new Proof of Staked Authority (PoSA) consensus model, introducing native validator staking, rotation, and reward reduction contracts. Currently, the PulseChain network has 15,893 validator nodes. Users can become validators by staking 32,000,000 PLS tokens and earn profits from network transaction fees.
PulseChain completed the testing of versions V3 and V4 earlier this year and officially launched the release on May 14.
Team Background
The founder of PulseChain is Richard Heart, who is also the founder of the HEX project. Heart is an American cryptocurrency entrepreneur and was one of the main investors in the Ethereum crowdfunding back in 2015. He has hundreds of thousands of followers on social media, but opinions about him are mixed.
Heart is known for his marketing skills. He purchased a 555.55-carat black diamond and named it "The HEX.COM Diamond" to symbolize HEX's maximum staking period of 5555 days. He also sponsored the three-time champion JJ Yeley in the Daytona 500 racing event.
HEX Project
HEX is a project that claims to be the world's first high-interest blockchain certificate of deposit, launched on December 2, 2019. The project has designed a complex token distribution and staking mechanism, including airdrops for Bitcoin holders and obtaining HEX through ETH donations.
HEX holders can stake their tokens for 1-5555 days and receive principal and interest upon maturity. Users who do not stake will face inflation, and ending the stake early will result in losing half of the earnings as a penalty.
The project also designed a promotion reward mechanism, where users obtained through referrals can receive a 10% reward, and the referrer can receive a 20% reward.
PulseChain's Airdrop and Mechanism
PulseChain will airdrop 1:1 to Ethereum token holders, but due to the initially low value of PLS tokens, this airdrop has limited significance.
Most projects on the PulseChain network are launched through the "Sacrifice Event," where users obtain token allocation rights by making donations. In the early stages, the PLS and PLSX communities donated 670 million and 1 billion USD respectively.
Tokenomics
PLS is the native token of PulseChain, used to pay for network gas fees. The total supply is 135 trillion, with over 90% held by an address believed to be controlled by the founder.
Validators receive 75% of the transaction fees, while the remaining 25% is burned. In the future, PLS tokens will also be used for community governance and on-chain voting.
PLSX is the platform token of the PulseX exchange, offering benefits such as fee discounts. The INC token is the reward token for staking and mining.
Ecosystem
The PulseChain ecosystem includes the following main projects:
Current Situation and Outlook
The PulseChain ecosystem is currently still mainly led by Richard Heart and the HEX community, with most projects being forks of mature projects on Ethereum. Despite the lack of mainstream attention and VC involvement, the community has raised a significant amount of funds.
After going live, PulseChain quickly rose in the DeFi TVL rankings, primarily focusing on the PulseX project. Recently, exchanges have started listing PLS trading pairs, providing users with more access options.
Overall, PulseChain is a controversial project with huge potential. Its development prospects will depend on continued community support and broader market recognition. Investors should carefully assess risks and opportunities and conduct in-depth research before making decisions.