Is there a double burn on PulseChain? If so, then surely you know what that means? The price of PulseChain could skyrocket and easily reach 30X, 40X or even more.
In today's video, we're going to tell you about this double burn that could potentially do PulseChain's price some good. So, watch this video to the end as we will explain in detail how this double burn is happening and why we think PulseChain will explode exponentially very soon.
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You know that PulseChain has a built-in burn rate of 25%. Well, there's another burn on top of that that no one has mentioned.
It's pretty huge and everyone is pretty excited about it. About 25% of the costs burned. And there will never be another PulseChain created. So, guys, this burn is so good for the price of PulseChain.
Indeed, PulseChain is one of the few channels to benefit from the implementation of EIP-1559 in its source code.
Yet Binance SmartChain does not have this functionality. They had to build something else. They had to make a different proposition: they implemented a 10% burn rate to compete with Ethereum without being inflationary. That was the goal. But some days it's deflationary with the amount of supply it creates, depending on the demand. But thanks to the power of EIP-1559, PulseChain is completely different.
So not only does PulseChain have a base of 25% of the fees that are burned so that, in addition to that, the supply decreases considerably thus increasing the value.
EIP-1559 has changed the fee system so that there are these base fees that are algorithmically selected based on how the blocks are filled, and it has also made it so that the blocks can also scale the gas limit, which simply means how much extra space is in the block.
Now that we understand the mechanics of PIE-1559, let's look at the effects of burning fees on ETH supply and insurance.
When making these estimates, it is important to remember that base fees fluctuate on a block-by-block basis. According to Tim Beiko, an Ethereum developer who played a leading role in the implementation of EIP-1559, base fees are expected to account for between 25% and 75% of total transaction fees.
Due to the difficulty of manually determining what the historical basis per block would have been, we use the range of his projections, 25%, 50% and 75% as the best rates for the transaction fee share.
PulseChain has 0% inflation. Validators only earn a fee and 25% of that fee is burned to reduce the supply in circulation.
PulseChain has five times faster blocks. It has about 5760 blocks per day. Whereas on Binance's SmartChain, we have 28800 blocks per day. And if you do the math, that's exactly five times as much. And so, we have 5 times the throughput of PulseChain and the increase in gas limit, which means we can insert more transactions in each block than Ethereum.
So PulseChain has crazy throughput. You don't want to get too greedy with it, but it should keep fees extremely low for a long time.
As for the PulseChain burn that's happening now with EIP-1559 in which our blockchain will have implemented in the codebase on top of the expected 25%. The base fee is still being burned and what the miners are getting is only this small priority fee.
The base fee should be between 25 and 75% of the total transaction fee. So that means we have 25% that was taken out of PulseChain alone. Then with the EIP-1559, we take another 25-75% off on top of that.
If you have an average of 25% of the base fee, that's what's charged and burned, plus the minus 25% that comes out of that. Being on PulseChain would be 43.75% of each transaction. The fees that are generated by what is burned. That's deflation, super deflationary.
Now, with another example, if we have a 25% cut from PulseChain, and another 50% cut from EIP-1559. Because, remember, 25% to 75% of the total transaction costs are burned. So our total effective burn rate per transaction goes up to 62.5%. That's even better. And if we have 75% of the total transaction fees, if we check that number and the minus 25% after that, the total effective burn rate is 81.25% burn per transaction.
So guys, is it a good thing to invest in PulseChain? You know, the offer is fixed. Which means that the tokens will no longer be created. And with this huge amount burning up with each transaction, the price of PulseChain is bound to go up in value.
Also, for those planning to use Liquid Loans, if as expected, we increase the buying pressure on PulseChain, combined with this burn rate, PulseChain's price will skyrocket! and it will do a lot of X. Maybe even 20X or 30X in less than 6 months.
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