Do you want to know the difference between PulseChain and Ethereum? Well, in this video, we will compare the two blockchains.
So, watch this video till the end to find out everything you need to know about both blockchains.
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Now, let's get started.
So, let’s start this comparison with the biggest difference between the two: HOW WERE THEY CREATED?
PulseChain has gone through Airdrop and sacrifices launch level phase and it'll launch its working mainnet soon.
been designed with Proof of Stake as its consensus algorithm.
A consensus algorithm is a computer process used to reach an agreement on a single data value between distributed processes or systems. Consensus algorithms are designed to ensure the reliability of a network with multiple untrusted nodes.
This ensures the reliability of the PulseChain network.
Ethereum published its white paper in 2013 and the main network was launched in 2015.
Ethereum has 117,046,619 coins in circulation and 365,186,415,050 coins in reserve.
Ethereum has both Proof of Work and Proof of Stake and plans to fully transition to the Proof of Stake model in the near future.
The goal here is to significantly reduce the energy expenditure compared to the proof of work while ensuring acceptable safety.
Therefore, with this Proof of Stake, energy consumption is controlled, which ensures the economic health of the fire, resulting in fewer costs or less inflation.
In addition, it is more ecological compared to the proof of work—strong resistance to 51% attacks.
Ethereum has EVM which allows you to create smart contracts, DeFi, and other infrastructure like layer-2 solutions on the blockchain. And, PulseChain being the fork of Ethereum has a similar model for development along with the option to be a cross-chain bridge.
PulseChain can make use of the Solidity on its blockchain and it can also make use of the external languages for the plugins and extensions.
This means that building smart contracts will be very easy. Because using this object-oriented programming language, will be used to implement Smart Contracts on various blockchains, including Ethereum.
PulseChain has a cheaper transaction cost per block verified through validators. While Ethereum has expensive transaction costs as of now due to the mining model.
PulseChain being an Ethereum fork can create solutions that run on and off Ethereum. And Ethereum supports layer 2 solutions through which tokens, NFTs, and cross chains can be created.
Ethereum can extend the blockchains with cross-chain and parallel chains through a layer-2 solution.
PulseChain being the Ethereum fork it can also be used in a cross-chain and parallel chains.
This means that it can easily provide interconnection between blockchain networks by allowing the exchange of information and values.
And on top of that, PulseChain can execute multiple smart contracts simultaneously. In other words, it excludes the parallel computation of a smart contract by multiple nodes.
A simple example that describes this concept of sharing information is the relationship between FIFA and Algorand.
Actually, FIFA and the Algorand blockchain recently announced their partnership, which makes the Algorand blockchain the official blockchain of the next soccer world cup... While the applications of a blockchain for the 2022 and 2023 soccer world cups have not yet been unveiled, one can imagine that there will be NFTs to collect the name of the players and the teams involved.
Of course, this example is between a blockchain and an external entity but it should help you understand the concept.
Another important element to compare is the transaction time.
PulseChain has 3 second block time with the ability to serve more transactions. While Ethereum has a transaction per second rate of around 15 to 30 TPS. This is absolutely crazy. Roughly speaking, transactions on the Ethereum blockchain last 5 to 10 times longer than those on the PulseChain blockchain.
This is obviously not good for arbitrage operations. Arbitrage operations require speed. And with a high transaction time like what the Ethereum blockchain provides to us, it's certainly not the right fit.
Now, PulseChain has PLS as its token designed for staking and validators rewards. While Ethereum makes use of the ETH token where it has its mining and Proof of stake rewards.
PulseChain has no inflation in its ecosystem and validators get the network fee reward of around 25%. While Ethereum goes through an annual inflation rate of about 1.11% each year.
PulseChain will re-enable use cases that were previously unavailable due to high costs. PulseChain debuts with the ETH system state and ERC20 tokens reward Ethereum holders and project creators. Many Ethereum-based tokens, including non-fungible tokens (NFTs), have received free PulseChain versions. Thousands of tokens and NFTs on PulseChain have found value due to this latest gold rush. Staking and validator rotation is now taking place on the second iteration of the PulseChain Testnet.
PLS despite not being launched, is already attracting heavy buying pressure. Investors on social media are requesting Heart to release the crypto soon and thousands of people are hoping to pour in their money on the very first day of its launch.
They firmly believe that anything is possible in Richard Heart’s world as everything he touches turns to gold.
At this time, there is no data to indicate whether PulseChain will be the key to wealth for the average person. PLS has not yet been launched. However, the sentiment in the market shows that it could be the next HEX.
Nonetheless, we will have to wait for its release to see if it provides generational wealth for investors.
Now, let's talk about his relationship with PulseX and how the two are connected.
PulseX allows you to trade tokens (PRC20s) on PulseChain for one another. One can substitute the original PLS token of PulseChain with the PLSX token of PulseX. As with Uniswap, this is an Ethereum-based version of the concept. Other chains’ currencies may be traded on PulseX through bridges. Every time someone uses PulseX to switch from one cryptocurrency to another, liquidity providers are paid. Users may connect their ERC20 tokens with complimentary PRC20 tokens to offer liquidity and generate fees. An important part of the plan is attracting ERC20 token holders to utilize their free PRC20 tokens to bridge into the PulseChain ecosystem and recoup some of their initial investment.
Now, basically, Pulsechain is new and it has yet to demonstrate its solutions for the Ethereum chain. As of now most of the features of the Pulsechain are untested and they are yet to meet the real-world demand.
Ethereum, on the other hand, has slowly moved from proof of work to proof of stake and it'd be able to clear most of its network fee and scalable issues in the near future. The choice of which one to go for is pretty straightforward for now but won't be the same once Pulsechain gets its mainnet.
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