What's up, everyone? Today, we're back with another video about PulseChain. In this video, we'll take a look at what Richard Heart said about the launch of PulseChain. Then we'll tell you what role Liquid Loans will play to make PulseChain even better. Watch this video till the end so you don't miss anything.
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Back in 2019 when crypto entrepreneur Richard Heart was preparing to launch his new project Hex on the Ethereum blockchain, the gas fees were much, much cheaper. However, thanks in large part to the explosion of NFTs, traffic on the network has risen exponentially over the last two years, and so too have the gas fees.
Refusing to let anything hold his brainchild back, Richard Heart decided to ‘hard fork’ Ethereum – and he decided to do it in a way that’s never been done before. Instead of just copying the open-source code for the Ethereum network, Richard Heart decided to copy the entire system state of the Ethereum network, meaning that any asset on the network would be duplicated on his new network, PulseChain.
When Richard Heart announced his plans to fork Ethereum, one of the first things he did was to make it extremely clear that he did not intend for his new project to be an ‘Ethereum killer’. Rather, PulseChain is intended to help the Ethereum network increase its value by sharing its load, allowing both new and existing projects to reach their potential.
You may have even taken part in Richard Heart’s ‘sacrifice phase’, where people were able to make a political statement on the importance of free speech as a protected human right, and may even be crossing your fingers for some free Pulse coin as a thank you. But have you really stopped to think about how big of a deal it is that PulseChain will launch fully loaded?
Since all the dApps on Ethereum will automatically be copied over onto PulseChain, the effort required by developers to ensure the code works on the new network should be minimal. In fact, it's possible that tweaks to the code of a given dApp may not even be required. Since software development is notoriously difficult (and time-consuming) the convenience factor for blockchain developers created as a result of PulseChain launching fully loaded can't be overstated.
Now let’s imagine you’re an Ethereum user who is sick of paying through the nose for ‘gas’. If all you needed to do is simply change a few settings in your MetaMask to be able to perform the exact same functions on a much faster and exponentially cheaper network, would you? Of course, you would! Not to mention that the allure of a free copy of all your Ethereum-based tokens will be too great to resist.
For these reasons, adoption is highly unlikely to be a problem for PulseChain, and once Ethereum’s users begin to play around on the new network, they’re sure to fall in love with the rapid transactions and incredibly cheap transaction fees.
Now let’s consider a few more reasons the launch of PulseChain is going to be big…
Unlike Ether ($ETH), Pulse ($PLS) will be deflationary, with 25% of the fees from each transaction on the network burned. Even though the circulating supply of Pulse is set to be absolutely massive, this fee-burning mechanism will rapidly drive down the circulating supply – and likely drive the price of Pulse up (and up).
PulseChain is the world's largest free AirDrop. PulseChain will reduce Ethereum's fees by essentially doubling its capacity or more. PulseChain will fork the state of the Ethereum system so that all your coins will be copied to the new chain for free. You can play with these coins now if you want, go to PulseChain.com, and use the testnet. You can trade these coins for fun right now on the testnet. And according to Richard Hard, we're just waiting for the devs to improve some things, higher throughput, more security, then we can move to the main network. It's just that software is hard, right? If you want really secure software with the perfect, flawless operation, it takes time to get it right, and it's taken the techies a long time to get it right. And that's why PulseChain, we've been at it for over a year now. We've probably been at it for about a year and a half. And we're close to the launch.
We recently made several videos explaining why the initial launch date of May was delayed. We invite you to check them out if you haven't already. We will put the link in the description of this video. In our opinion, the launch is taking longer mainly because the devs are getting a lot of suggestions from the community. They are catching all the things they think, "hey, this would be miraculous because it can reduce the gas fees which are too high, it can give us a higher throughput, it can save the environment and it's better for the economy, it burns the parts"... Regardless, all of this is being taken into consideration by the devs, and Richard Heart wants to make sure he launches the best version of PulseChain he can. An energy-efficient, environmentally friendly, fast, and cheaper blockchain. Not to mention the burn mechanism. Thus, 25% of fees are burned besides VIP 1559, which also burns coins. So, the devs would have to estimate how many more parts will be burned. So, we have PulseX, which is a fork of uniswap, which burns the fees, no inflation, just deflation. We have PulseChain, which only has deflation. That's really great.
We're going to have the PulseChain consensus network, PulseX trading, and HEX value storage. We have a wallet being built to replace MetaMask. It's almost a complete vertical integration. The only thing missing is Fiat on-ramps and off-ramps. That's it.
Ethereum and Bitcoin are both ‘Proof of Work’ blockchains, which means they rely on a huge number of specialized 'mining' computers constantly performing complex mathematical calculations, something which is extremely energy intensive. Bitcoin alone already uses more electricity than many countries, and its energy consumption is still rising.
In contrast, PulseChain will use a 'Proof of Stake' system, where the nodes of the network will commit 'stakes' of tokens for a set period in exchange for the chance to write the next block of transactions. The node that's chosen, referred to as the 'validator, will receive rewards in the form of the native token of the network – so in the case of PulseChain, validators will receive Pulse.
Not only are Proof of Stake networks faster and more scalable than Proof of Work, but they're much more energy efficient too.
Now, to conclude, speculation abounds on when PulseChain will launch, but one thing is for certain – Richard Heart will do everything in his power to make sure that when PulseChain launches, it’s properly set up for long-term success. Until then, it is not possible to buy Pulse token (PLS), and any place or person online offering to sell PLS is a scammer, so be warned.
When PulseChain launches, PLS is expected to be available for purchase on exchanges like Coinbase and Binance, as well as Richard Heart’s fork of PancakeSwap, PulseX – watch this space!
Now, let’s talk about Liquid Loans.
While we may be just a tiny bit biased, we truly believe Liquid Loans will play an extremely positive role in the PulseChain ecosystem. By allowing Pulse holders to extract value from their gains without ever having to sell, we believe Liquid Loans will remove a huge amount of sell pressure from PLS in the long term.
Of course, borrowing against your PLS isn’t the only thing you’ll be able to do inside the Liquid Loans protocol. You’ll also be able to provide stability to the system (and yield rewards in LOAN and liquidation proceeds in PLS), as well as stake your LOAN to receive rewards in the form of USDL and PLS.
Completely immutable and with no admin keys, Liquid Loans will be a powerful financial tool for PulseChain community members, and we can’t wait to help play a part in more people realizing their financial goals.
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