PulseChain: The Official Guide to Brand New Ethereum Hard Fork

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By Connor
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PulseChain: The Official Guide to Brand New Ethereum Hard Fork

So you’ve heard of PulseChain, and you’re wondering what it’s all about?

PulseChain is Richard Heart’s upcoming “hard fork” of the Ethereum crypto network. Compared to Ethereum, PulseChain will be faster, cheaper and more and more environmentally friendly as it will use a ‘proof-of-stake’ rather than a ‘proof-of-work’ consensus mechanism.

What does that mean? It means that instead of miners competing to confirm transactions and add new blocks to the blockchain (which is extremely energy intensive), validators will be randomly selected instead, which requires far less energy.

Unlike previous hard-forks of Ethereum, PulseChain will fork Ethereum “as is”, meaning ERC20 holders will get a copy of all their existing tokens on a faster, cheaper, greener DeFi network.

A free copy of all your ERC20s? What’s not to love?

No one knows for sure when PulseChain will launch, but PulseChain’s founder Richard Heart has hinted sometime in mid-May 2022.

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PulseChain Key Features

  • Increase Ethereum’s value: Fees on ETH will be reduced due to load sharing
  • Enrich ETH users: Any holders or founders of projects on ETH will receive a copy of their assets of PulseChain.
  • Ease of use: Only one setting in your MetaMask wallet must be changed to access PulseChain.
  • Lower fees and more users: PulseChain increases ETH throughout by 4 times.
  • Far less environmental pollution: PulseChain is proof-of-stake, meaning it does not burn energy unnecessarily like proof-of-work networks.
  • Empowerment of PulseChain users: Native PLS token can be staked and delegated to earn yield.
  • Improved game theory: PLS has 0% inflation and 25% of validator fees are burnt to reduce circulating supply.

What was the PulseChain Sacrifice?

In early 2021, serial entrepreneur and cryptocurrency founder Richard Heart announced to his followers that he intended to fork the Ethereum network due to its ridiculously high gas fees. The new network was to be called PulseChain, and Richard recognized that the creation of the network was a perfect opportunity to give his fans and followers the chance to make a powerful political statement on the value of free speech.

In order to solidify their political statement, people were able to send or “sacrifice” cryptocurrency to an address with no expectations of anything in return.

The sacrifice phase began in July and ran for 30 days. Over $1 billion was raised, $27 million of which went to the medical research charity SENS.

What is the Pulsechain Airdrop?

Once the sacrifice phase had closed, rumours began to swirl that wallets that participated in the sacrifice phase may receive an airdrop of PulseChain tokens when the new network launches. If this were to happen, these tokens would launch with a price of zero, but it’s highly likely that they would find a price soon afterwards.

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What Price will PLS be?

While no one has a crystal ball, many people are hopeful that PulseChain’s native coin Pulse (PLS) could perform just as well if not better than both Bitcoin (BTC) and Ether (ETH) long term. It’s important to note that PLS will start at a price of zero, but there’s no reason to think that it couldn’t increase in value very quickly with so much hype and excitement surrounding the project.

Will we see PLS at $1 in 2022 or 2023? Who knows, stranger things have happened in crypto!

Who is Richard Heart?

Born Richard Schueler, Richard Heart is a serial entrepreneur, self-help author, philanthropist, and online personality. In December 2019, he launched the controversial cryptocurrency HEX, which went on to do a 10,000X from its all-time-low soon after launch to its all-time-high in September 2021.

On top of forking Ethereum, Richard Heart is also forking the decentralized exchange Pancakeswap. This ‘dex’ will be called PulseX, and it’s receiving a huge amount of attention online.

After PulseChain and PulseX launch, only time will tell what Richard will dream up next, but he has hinted that it could be an alternative to the popular browser-based wallet MetaMask.

Where Can I Buy PLS?

At time of writing in early May 2022, it’s not yet possible to buy $PLS. However, community members are currently speculating that it might be possible to swap PRC20s – that is, PulseChain copies of existing ERC20s – before a bridge opens soon after launch.

If this were to happen, people would be trading “on ratio” rather than according to the dollar value of a given token. The potential for this kind of trading has the HEX and PulseChain community very excited, and people are theorising around-the clock on all the different possible gameplays.

What is Pulsechain Hex (pHEX)?

PulseChain HEX, commonly referred to as “pHEX”, will be one of thousands of PRC20s generated as part of the PulseChain launch. Richard Heart has suggested pHEX will carry the ticker symbol HEX, and that HEX on Ethereum will be denoted as HEX.e.

Like all PRC20s, pHEX will launch at a price of zero, however many community members are speculating that its price will shoot up rapidly to find parity with HEX on the Ethereum network.

It might seem illogical that pHEX could be the same price as eHEX within seconds after the launch of PulseChain, but this is crypto and common sense tradFi wisdom doesn’t always apply. The price discovery of pHEX will be fascinating, so watch this space!

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Disclaimer:Please note that nothing on this website constitutes financial advice. Whilst every effort has been made to ensure that the information provided on this website is accurate, individuals must not rely on this information to make a financial or investment decision. Before making any decision, we strongly recommend you consult a qualified professional who should take into account your specific investment objectives, financial situation and individual needs.

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Connor is a US-based digital marketer and writer. He has a diverse military and academic background, but developed a passion over the years for blockchain and DeFi because of their potential to provide censorship resistance and financial freedom. Connor is dedicated to educating and inspiring others in the space, and is an active member and investor in the Ethereum, Hex, and PulseChain communities.

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