What's up, everyone? We're back with another video on PulseChain. In this video, we will cover important information and updates about PulseChain. The new version of Ethereum (ETH 2.0) has been launched. What does this mean for PulseChain? Will it be good for PulseChain, or bad? Watch this video all the way through so you don't miss anything.
Hi Cryptoprnr! What is your favorite crypto, let us know in the comments!!
If you like making crazy money with crypto, this is the place for you, here we explore new gems, and explain the best new tiny undervalued cryptos with 100X, or 1000x potential. You will also find all the news of the crypto space every day. So, make sure to subscribe and activate notifications for all the upcoming videos. Follow us on our social channels and join as members for added perks!!
Now, let's get started.
PulseChain is going to be a better experience than Ethereum. So far, all signs point in that direction. And everyone agrees with that. Where people may disagree is on the timing. It's a possibility. No one knows when PulseChain will launch. The launch was originally scheduled for mid-May but was delayed for several reasons. According to Richard Heart, PulseChain was not yet ready to launch. And he's said it several times, he doesn't want to launch a half-finished product and deal with the bugs afterward.
In our opinion, PulseChain has like a huge innovation because of the time it takes to launch.
We can assume that Ethereum had the first mover advantage, but Richard is going to have virality as soon as he launches PulseChain. So, it's safe to say that virality could have a similar effect. This is probably a good thing for PulseChain in that, as we just mentioned, PulseChain will bring innovation. In our opinion, Richard Heart's following will increase tenfold when PulseChain is launched. People will want to have a piece of it. A lot of people who know about PulseChain didn't participate in the sacrifice phase. There are already people lined up and waiting for PulseChain to launch. But if you didn't participate in the sacrifice phase of PulseChain or PulseX, there is a very effective way to get Pls tokens before everyone else before it launches. It's through the PulseChain faucet. By the way, you can go there every 24 hours to claim free tokens.
In our opinion, within two and a half years, PulseChain will have the same earnings as Ethereum, no more. And then in three to five years, we'll see. I think the sky is the limit if PulseChain does what it was designed to do. We are very excited about it.
The current bear market has gone on for far too long. It's hard to say when it will end. But if PulseChain enters this bear market, it would probably be a good thing. It might get people to jump in sooner because they are eager to invest.
The fact that PulseChain was launched after the Ethereum merger is also a very good thing. Actually, everyone was saying that PulseChain's performance was at risk because Ethereum was going to fix some of its problems.
The best way to understand Ethereum 2.0 is to understand how it differs from its predecessor. Originally, Ethereum runs on the Proof-of-Work (PoW) consensus mechanism. This is the same mechanism currently used by Bitcoin. However, this system is far from perfect, as it has three major flaws.
First, it consumes a lot of energy to validate transactions and ensure the security of the network. For example, about 700,000 homes could be powered by the energy spent to validate the Ethereum network for a single day. This is huge.
Second, it is far too slow. Ethereum version 1.0 could process about 15 transactions per second, which is far behind Visa. Visa can process a whopping 65,000 transactions per second.
Third, it's a bit centralized. The big crypto-currency miners build their facilities in places where electricity is cheap. As an example, four large mining pools, the majority of which were previously located in China, controlled more than 50% of the total bitcoin mining power.
Now that we've established the main issues that have prevented Ethereum from achieving its goals, we can move on to what changed after the merger.
Ethereum 2.0 is an update to the Ethereum network that improves several aspects of the ecosystem and aims to solve many problems.
Scalability is one of the main features of Ethereum 2.0. With Ethereum 2.0, the network moves to a proof-of-stake algorithm. Maybe not right away, but gradually.
However, the result we got is far from what we expected. In fact, it makes perfect sense. He couldn't solve all his problems with a snap of his fingers. And if you look on coinmarketcap, Ethereum is sitting at about $1300 at the time of this recording. It was at over 1600 on the day of the merger. Of course, this drop is the effect of the current bear market, but in our opinion, these changes could have given it a boost. This is why we believe that when PulseChain is launched if it respects what it was created for, it will be a serious competitor for Ethereum.
The big thing we are waiting for is the improvement of the consensus.
A consensus mechanism is a fault-tolerant mechanism that is used in computer systems and blockchains to get the necessary agreement on a single data value or network state among distributed processes or multi-agent systems, as with crypto-currencies.
This is the main reason for the delay in the launch. This is because Richard's devs are working on it. It's important to remember though that the previous version of Ethereum was a proof of work blockchain, and it's now a proof of stake. So that's one of the things that PulseChain is going to be as well, it's proof of stake, which is great because it has a lot of different benefits and one of them is honestly just being more environmentally friendly, but also being something that can have better efficiency.
But it's really cool that Ethereum is out and everything. It allows the PulseChain developers to see what they've done, and the problems that blockchain will have in the first few months.
Anyway, PulseChain has everything to succeed. With each passing day, it continues to draw attention to itself. And one of the most popular crypto news sites called WatcherGuru
published about a month ago an article about Pulsechain and its various projects! This is great news because it will bring attention to PulseChain!
Reports are doing the rounds that the PulseChain network might host nearly 120 projects on its platform during the initial days of its launch. The projects include tokens, NFTs, DAOs, and more.
The Twitter handle ‘Pulsechain News & Talk’ has been following up with the network and compiled a list of projects that would be on the upcoming layer-2 solution. The projects include TrustSwap, Slate DAO, PowerCity, MoreToken, AirDAO, and AlphaSwap, among others. Now, do you think PulseChain will be launched soon? Share your thoughts with us in the comments section below.
We hope we were able to provide some value and helped you to move a step ahead in your crypto journey Be sure to check out our Crypto Brand called Cryptopreneur, get yourself the highest quality Crypto Merch available right now on the market, and make sure to subscribe so that you don't miss out on any of our content. Till next time, Goodbye.