What is PulseChain? A Simple Explanation
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With the upcoming PulseChain airdrop, ERC-20 token balances and NFT holdings will be mirrored on the PulseChain crypto network when the mainnet goes live. This has caught the attention of many in the crypto space who are looking for a more cost-effective alternative for smart contract development.
PulseChain aims to reduce the computational strain on the Ethereum blockchain, which has been a major concern for developers. As a result, there is a lot of speculation about the PulseChain launch date and what the project has in store for the future.
However, a number of factors suggest that this innovation will produce significant results in the months to come. Overall, the potential impact of PulseChain on the blockchain industry is something that cannot be ignored.
Today, we will delve deeper into the PulseChain crypto network, providing insights into the project’s history and the PLS token, covering the eagerly-awaited PulseChain airdrop and the “sacrifice” period.
PulseChain is an innovative blockchain platform that has been making waves in the blockchain industry lately. It is a fast, open-source, public blockchain that provides a cost-effective alternative to Ethereum. PulseChain is essentially a hard fork of the Ethereum blockchain, but with its own unique features that set it apart from its predecessor.
One of the most significant advantages of PulseChain is that it is the first hard fork to mirror the complete state of the Ethereum blockchain. This means that it has access to records of every transaction, user account, and smart contract interaction on Ethereum. This feature makes PulseChain a highly reliable and secure network.
As the programmable blockchain space continues to evolve, PulseChain is steadily gaining popularity. One of its primary goals is to solve the issues around Ethereum’s scalability by providing a low-cost alternative to the number-one smart contract blockchain network in the world. PulseChain aims to offer greater scalability and faster transaction times, making it an excellent option for businesses and developers seeking a reliable blockchain network.
Ethereum gas fees tend to skyrocket during network congestion, leading to longer transaction times and slower network speeds. PulseChain, on the other hand, boosts Ethereum’s efficiency and speed. While Ethereum has a block time of 15 seconds, PulseChain features a block time of only three seconds, making it incredibly fast and scalable.
PulseChain employs a fork of Binance Smart Chain’s Proof-of-Stake (PoS) consensus mechanism called Parlia. However, the project has since shifted to a new model called Proof of Staked Authority (PoSA). This new model features native validator staking, rotation, and reward-slashing contracts.
PulseChain currently has 33 validator nodes throughout the network. Anyone can become a validator by staking 5,000,000 PLS tokens, earning a share of transaction fees from across the network. However, the initial staking deposit is non-refundable.
Additionally, PulseChain implements a validator rotation mechanism to ensure activity among nodes is distributed fairly. The PulseChain community can replace validators every 24 hours based on the number of PLS tokens staked, creating more incentives for staking and securing the network.
The PLS token is the main token of the PulseChain network and follows the PRC-20 token standard, which is a variation of Ethereum’s ERC-20 standard and is essential for paying transaction fees across the network. PLS holders have the option to delegate their tokens to validators, which helps to secure the network and earn a portion of transaction fees.
Validators can choose how they divide transaction fee revenue with delegators. PLS token holders can decide to stake with validators offering higher rewards with lower authority scores or opt for the most authoritative validators and earn less. PulseChain validators receive 75% of all PLS tokens generated by transaction fees, and the remaining 25% is burned to lower the circulating supply.
The PLS token will also be utilized in community governance and on-chain voting when the final stages of the project roadmap are complete. The PLS token will be distributed through various mechanisms, and the supply of the tokens will be significantly inflated upon forking to compensate those who participated in the sacrifice phase. However, the token-burning mechanism aims to bring the supply back to equilibrium as the project matures.
Sacrifice Period Explained
During the sacrifice period of the PulseChain launch, users were encouraged to participate in a unique fundraising model where they could burn their ETH and ERC-20 tokens in exchange for a more significant number of PLS tokens in the future. This model was designed to attract early investors who could support the project at the ground level and the broader ecosystem of PulseChain dApps.
The earlier an investor participated in the sacrificial period, the more tokens they received, making it a great opportunity for those who wanted to invest in the project’s future success.
The sacrificial period ran for a total of 17 days and concluded at midnight on August 2, 2021, giving users ample time to participate and benefit from the opportunity. What’s more, the sacrifice rates remained unchanged for the first five days, providing investors with a stable environment to evaluate their options and make informed decisions.
Investors were tempted to participate in the sacrificial period as it became increasingly favorable with larger deposits, allowing them to receive even more tokens. This opportunistic approach was instrumental in attracting a wide range of investors and helped in raising significant funds for PulseChain’s future development.
Overall, the sacrifice period of the PulseChain launch proved to be a successful fundraising model and an excellent opportunity for early investors to get involved and support the project. The stability of the rates and increasing returns on larger deposits made it an attractive proposition for those looking to invest in the future of PulseChain.
What is the Goal of the PulseChain Crypto Network?
The PulseChain cryptocurrency network has multiple objectives.
Firstly, it aims to alleviate some of the network load on the Ethereum network, thereby, raising its overall value. This is achieved through sharing some of this load with PulseChain. Another goal of PulseChain is to lower the gas fees that Ethereum users have been paying, as these fees have been a major source of concern for many blockchain users.
In addition to these goals, PulseChain seeks to benefit existing Ethereum users and holders of ETH by offering them PLS token balances through the eagerly-awaited airdrop. This move is set to enrich the Ethereum ecosystem and reward those who have already invested in it.
Furthermore, PulseChain aims to democratize access to the Web3 ecosystem by enabling users to transact for free using the PLS token system. This will lower the barriers to entry for new users and help them engage within the space without worrying about high transaction fees.
PulseChain aims to improve the game theoretic dynamics of existing blockchain networks by implementing a 0% inflation model for its PLS token. This will ensure that the value of the token remains stable, which is vital for any cryptocurrency network.
And finally, PulseChain is a complete Ethereum fork, meaning that it comes with data and token balances already loaded on the network. This eliminates the need to start with an empty blockchain and allows for a seamless launch.
PulseChain Airdrop: The Largest in History?
First things first, what is an airdrop? An airdrop is a highly effective technique for incentivizing community participation in the blockchain or crypto space.
Essentially, it involves the distribution of free coins or tokens to individuals who engage with a particular project or platform. As such, airdrops have become increasingly popular as a marketing tool for new projects looking to generate interest and engagement.
That being said, the highly anticipated PulseChain airdrop is set to make history as the largest airdrop to date. The airdrop will involve the free distribution of PLS-20 balances to holders of ERC-20 tokens. In an impressive feat, PulseChain will hold a complete copy of all Ethereum token balances, enabling the distribution of PLS variations for various Ethereum tokens and NFTs.
The airdrop is set to begin as soon as the PulseChain blockchain goes live, and the best part is that it requires no action from the recipients. If users have an Ethereum token balance in a non-custodial wallet, they will automatically receive a 1:1 PLS token balance.
This means you can access all your Ethereum tokens on the PulseChain blockchain without any hassle. The PulseChain airdrop is definitely an event worth keeping an eye on for anyone interested in the world of cryptocurrency.
The Promise of PulseChain
PulseChain is a promising blockchain network that has the potential to revolutionize the industry.
Its unique features, low cost, and high scalability make it an attractive option for businesses and developers alike.
With the rollout of Ethereum 2.0 nearing its final stages, it will be interesting to see how PulseChain competes with Ethereum and other blockchain networks in the coming years.
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Please note that the Content may have been generated with the Help of AI. The editorial content of OriginStamp AG does not constitute a recommendation for investment or purchase advice. In principle, an investment can also lead to a total loss. Therefore, please seek advice before making an investment decision.
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