PulseChain is Live!
On May 13, 2023, the PulseChain network went live. Just like that, a new blockchain was born. PulseChain is a fork of Ethereum 2.0. The founder is the entrepreneur Richard Heart. He is also the creator and founder of the Hex token currently worth 3 cents.
Immediately, network congestion resulted in sky-high fees and failed transactions. Users reported paying multiple PLS to end a hex stake during peak network usage. Logically, users would remain patient and wait for lower traffic times to execute transactions.
Logically…
Consider whether or not a transaction needs to happen now. Doing so may save you many PLS tokens.
Token balances and smart contracts on Ethereum during the fork exist on PulseChain. If you own Ether or erc20 tokens, and you self custody them, then you might have a token balance on PulseChain. The primary wallet is Metamask or a hardware wallet linked to Metamask. The primary Uniswap fork is PulseX. I will post the network rpc information below.
There is no ability to bridge at the moment. The only place to find Pulse tokens is on the PulseChain network. The only way to buy them is to use erc20 tokens that were copied from the Ethereum network onto PulseChain, or over the counter if you know a guy that sacrificed and is willing to give them up.
Right now, trades on PulseX are made willy-nilly, or they are based on ratio trading. Ratio trading is when the user calculates a theoretical value of two PulseChain tokens by considering their dollar value on the Ethereum network and translating that into a ratio. Users project prices on prc20 tokens via this ratio. For instance, if S token is worth $1 on Ethereum and E token is worth $2 on Uniswap, but the ratio on PulseX is 1 S token for 10 E tokens, then a ratio trader might consider swapping his S tokens for E tokens on PulseX.
These trades are risky. There is no link between a token’s value on Ethereum, and its value on PulseChain. No bridge is open, so there is no ability for arbitrage or for new money to enter the system. Any reported prices before the bridge opens are theoretical.
The usage of the network has been extremely high. On average each 10s block has over 100 transactions bringing the daily transaction total to about 1 million transactions a day. It hasn’t been live for long, but that rivals the transaction volume on Ethereum. That’s Bad news for the user with dreams of a fremium EVM chain, but great news for holders and validators. In general, high network usage means better payout for validators and greater scarcity of PLS tokens. As on Ethereum, a portion of transaction fees are burt on PulseChain. The higher the transaction volume the higher the burn rate.
There is plenty more that can be said, but that’s enough for now. Good luck operating on this new blockchain. Remember that patience is a primary skill that makes investors money. And congrats to all of the people that have been waiting for the launch of this network for 2 years. Don’t fall for scammers, go to official websites and verify your actions before you commit to them. The blockchain is irreversible.
