m typo fixed in https://bridge.pulsechain.co URL (wrong: .co, correct: .com) |
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{{AFC submission|d|corp|u=Mgloor|ns=118|decliner=David Gerard|declinets=20240317100006|ts=20240316184719}} <!-- Do not remove this line! --> |
{{AFC submission|d|corp|u=Mgloor|ns=118|decliner=David Gerard|declinets=20240317100006|ts=20240316184719}} <!-- Do not remove this line! --> |
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{{AFC submission|d|adv|u=Mgloor|ns=118|decliner=DoubleGrazing|declinets=20240315153648|reason2=nn|small=yes|ts=20240315153501}} <!-- Do not remove this line! --> |
{{AFC submission|d|adv|u=Mgloor|ns=118|decliner=DoubleGrazing|declinets=20240315153648|reason2=nn|small=yes|ts=20240315153501}} <!-- Do not remove this line! --> |
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{{AFC comment|1=Sourcing issues not addressed. Too many primary sources, too many cryptocurrency sources. Strongly suggest you write a version entirely based only on mainstream RSes with no cryptocurrency media - [[User:David Gerard|David Gerard]] ([[User talk:David Gerard|talk]]) 10:00, 17 March 2024 (UTC)}} |
{{AFC comment|1=Sourcing issues not addressed. Too many primary sources, too many cryptocurrency sources. Strongly suggest you write a version entirely based only on mainstream RSes with no cryptocurrency media - [[User:David Gerard|David Gerard]] ([[User talk:David Gerard|talk]]) 10:00, 17 March 2024 (UTC)}} |
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:: Summary of the initial article discussion at [https://en.wikipedia.org/wiki/User_talk:David_Gerard#Request%20on%2010:16:58,%2017%20March%202024%20for%20assistance%20on%20AfC%20submission%20by%20Mgloor David Gerard's talkpage thread]. Update from 21-March-2024: Page re-written based on mainstream RSes as suggested. Please further discuss on the main article's [[Draft talk:Pulsechain|talkpage]]. --[[User:Mgloor|Mgloor]] ([[User talk:Mgloor|talk]]) 21:30, 21 March 2024 (UTC) |
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{{Use dmy dates|date=June 2023}} |
{{Use dmy dates|date=June 2023}} |
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{{Infobox distributed computing project |
{{Infobox distributed computing project |
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| name = |
| name = PulseChain |
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| logo = |
| logo = PulseChainLogoTransparent.png |
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| logo_caption = Logo |
| logo_caption = Logo |
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| author = [[Richard Heart]] |
| author = [[Richard Heart]] |
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| performance = |
| performance = |
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| total users = |
| total users = |
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| active hosts = 48, |
| active hosts = 48,854 nodes (18 March 2024) <ref>[https://beacon.pulsechain.com/validators#active Live Validator dashboard] (retrieved 18 March 2024)</ref> |
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| website = {{URL|https://pulsechain.com}} |
| website = {{URL|https://pulsechain.com}} |
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}} |
}} |
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PulseChain is a [[Decentralization#Blockchain technology|decentralized]] Layer-1 [[blockchain]] with [[smart contract]] functionality, originally founded and initiated by [[Richard Heart]].<ref>[https://www.imdb.com/title/tt28077332/?ref_=fn_al_tt_1 IMDB cinema movie about PulseChain founder Richard Heart (2023)]</ref> Pulse ([[ISO 4217#Cryptocurrencies|Abbreviation]]: PLS{{efn|Cryptocurrency do not have a formal [[ISO 4217]] alpha-3 code. "PLS" is informal only}}) is the native [[cryptocurrency]] of the platform.<ref>[https://www.forbes.com/digital-assets/assets/pulsechain-pls/ Forbes PulseChain ticker]</ref> <ref>[https://finance.yahoo.com/quote/PLS-USD/history/ Yahoo Finance PulseChain ticker]</ref> |
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==History== |
==History== |
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Pulsechain's development began in response to the growing challenges faced by the [[Ethereum]] network scalability issues.<ref name="scalability">[https://www.wilsoncenter.org/article/understanding-ethereums-layer-1-and-layer-2-differences-adoption-and-drawbacks Wilson Research Center / Ethereum drawbacks]</ref> As [[Ethereum]] gained popularity, transaction fees (gas) skyrocketed <ref>[https://www.forbesindia.com/article/crypto-made-easy/vitalik-buterin-says-transaction-fees-need-to-reduce-to-5-cents-to-remain-acceptable/75941/1 Forbes India article about high Eth gas fees]</ref> <ref>[https://www.cnbctv18.com/cryptocurrency/explained--crypto-gas-wars-what-are-they-and-what-is-the-way-forward-12839542.htm CNBC article about "extremly high Ethereum txn fees"]</ref>, hindering user adoption and limiting the functionality of Decentralized Applications (dApps) built on the platform. |
Pulsechain's development began in response to the growing challenges faced by the [[Ethereum]] network scalability issues.<ref name="scalability">[https://www.wilsoncenter.org/article/understanding-ethereums-layer-1-and-layer-2-differences-adoption-and-drawbacks Wilson Research Center / Ethereum drawbacks]</ref> As [[Ethereum]] gained popularity, transaction fees (gas) skyrocketed <ref>[https://www.forbesindia.com/article/crypto-made-easy/vitalik-buterin-says-transaction-fees-need-to-reduce-to-5-cents-to-remain-acceptable/75941/1 Forbes India article about high Eth gas fees]</ref> <ref>[https://www.cnbctv18.com/cryptocurrency/explained--crypto-gas-wars-what-are-they-and-what-is-the-way-forward-12839542.htm CNBC article about "extremly high Ethereum txn fees"]</ref>, hindering user adoption and limiting the functionality of Decentralized Applications (dApps) built on the platform. |
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* |
* Conception (2021): [[Richard Heart]], the founder of the HEX project, proposed PulseChain as a solution to [[Ethereum]]'s scalability issues.<ref name="scalability" /> |
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* |
* Sacrifice Phase (Early 2023): PulseChain conducted a "sacrifice" phase, allowing users to contribute various cryptocurrencies or fiat currency to designated addresses. In return, participants received equivalent amounts of Pulse (PLS) tokens once the network launched. During the PulseChain sacrifice, 25 million dollars were raised for the SENS foundation.<ref>[https://www.express.co.uk/finance/city/1465354/pulsechain-cryptocurrency-srf-sens-research-foundation-airdrop-pulse-charity-longevity Express.co.uk article about the PulseChain fundraising]</ref> |
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* |
* Mainnet Launch (May 2023): PulseChain's mainnet and its native [[Decentralized_exchange|Decetranlized Exchange]] (DEX) PulseX. This airdrop was hailed by some as the largest in crypto history, while others questioned its long-term economic sustainability.<ref>[https://ieeexplore.ieee.org/abstract/document/9739690 IEEE PulseChain aidrop reflected]</ref> <ref>[https://www.sens.org/pulse-chain-airdrop/ SENS Research foundation / PulseChain airdrop ]</ref> <ref>[https://www.express.co.uk/finance/city/1465354/pulsechain-cryptocurrency-srf-sens-research-foundation-airdrop-pulse-charity-longevity Express.co.uk article about SENS fundraising]</ref> <ref>[https://perspectivesinmedicine.cshlp.org/content/13/7/a041209.full Perspectives in Medizine Journal (March 2024) / Reference: PulseChain airdrop reflected]</ref> |
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* |
* Present Day (2024): PulseChain exists as a functional network, processing transactions and facilitating dApps. Close to 50,000 active [[Proof of stake|Blockchain validators]] validate transactions and participate in the consensus process to secure the network, ensuring adherence to network rules and preventing tampering. They contribute to block production, network security, and governance while incentivized through rewards mechanisms, fostering trust and decentralization within the blockchain ecosystem.<ref>[https://www.linkedin.com/pulse/pulsechain-going-ethereum-20-priority-crypto-jobs/ Linkedin.com article about PulseChain]</ref> |
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==Technical Specifications== |
==Technical Specifications== |
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Pulsechain is a full-state fork of the architecture of [[Ethereum]] 2.0. with major modifications reflected in |
Pulsechain is a full-state fork of the architecture of [[Ethereum]] 2.0. with major modifications reflected in PulseChain's Gitlab repository, in summary:<ref name="gitlab" /> |
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* |
* Consensus Mechanism: While details are still emerging, PulseChain is expected to utilize a Proof-of-Stake (PoS) consensus mechanism similar to [[Ethereum]]'s current model after the Merge. |
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* |
* Block Time: PulseChain boasts a faster block time compared to [[Ethereum]], aiming for quicker transaction processing. |
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* |
* Native Token: The native token of PulseChain is called Pulse (PLS). It serves various purposes within the network, including: |
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** Activating validators |
** Activating validators |
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** Paying transaction fees |
** Paying transaction fees |
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==Promises and Controversies== |
==Promises and Controversies== |
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PulseChain promises to offer several advantages over [[Ethereum]], including: |
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* |
* Lower transaction fees: By improving scalability, PulseChain significantly reduced the gas costs associated with [[Ethereum]] transactions on its PulseChain network. |
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* |
* Faster transaction processing: With a faster block time, PulseChain has proven significantly quicker confirmation times for transactions. |
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* |
* Support for existing [[Ethereum]] projects: By replicating the [[Ethereum]] state, PulseChain claims seamless compatibility with existing [[Ethereum]]-based Decentralized Applications (dApps) and tokens. This "free" replication provides users with copies of their [[Ethereum]] holdings on the PulseChain network. |
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PulseChain is a contentious project also facing criticism: |
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* |
* Centralization Concerns: The project's founder, [[Richard Heart]], has been accused of wielding excessive control over the network, raising concerns about centralization. |
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* |
* Sustainability of "Free" Tokens: Doubts exist around the long-term economic viability of replicating [[Ethereum]] assets without a clear value proposition for the PulseChain network itself. |
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* |
* Legality and Regulatory Issues: The legality of PulseChain's token distribution method (referred to as a "sacrifice" phase) has been questioned, with potential regulatory hurdles on the horizon.<ref>[https://www.sec.gov/litigation/litreleases/lr-25794 U.S. Securities and Exchange Commision / Richard J. Schueler a/k/a Richard Heart, Hex, PulseChain, and PulseX]</ref> |
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== Regulation == |
== Regulation == |
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{{see also|2020s commodities boom}} |
{{see also|2020s commodities boom}} |
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In the [[United States]], the proposed [[Digital Commodities Consumer Protection Act]] would treat |
In the [[United States]], the proposed [[Digital Commodities Consumer Protection Act]] would treat PulseChain and other cryptocurrencies as [[Commodity|commodities]], which could then be regulated by the [[Commodity Futures Trading Commission]] (CFTC).<ref>{{cite web | url=https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/understand_risks_of_virtual_currency.html#:~:text=Bitcoin%20is%20a%20Commodity&text=While%20its%20regulatory%20oversight%20authority,a%20commodity%20in%20interstate%20commerce | title=Customer Advisory: Understand the Risks of Virtual Currency Trading|publisher=Commodity Futures Trading Commission}}</ref><ref>{{cite web|url=https://www.cftc.gov/sites/default/files/2019-12/oceo_bitcoinbasics0218.pdf|title=Bitcoin Basics|publisher=Commodity Futures Trading Commission|date=December 2019|access-date=21 December 2022}}</ref> |
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==Notes== |
==Notes== |
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* {{URL|https://scan.pulsechain.com|Pulsechain Explorer}} |
* {{URL|https://scan.pulsechain.com|Pulsechain Explorer}} |
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* {{URL|https://bridge.pulsechain.com|Pulsechain Bridge}} |
* {{URL|https://bridge.pulsechain.com|Pulsechain Bridge}} |
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* {{URL|https://richardheart.com}} |
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{{Portal bar|Internet|Economics|Money|Free and open-source software|Numismatics}} |
{{Portal bar|Internet|Economics|Money|Free and open-source software|Numismatics}} |
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{{Cryptocurrencies|state=expanded}} |
{{Cryptocurrencies|state=expanded}} |
Revision as of 10:12, 25 March 2024
- Comment: Sourcing issues not addressed. Too many primary sources, too many cryptocurrency sources. Strongly suggest you write a version entirely based only on mainstream RSes with no cryptocurrency media - David Gerard (talk) 10:00, 17 March 2024 (UTC)
- Summary of the initial article discussion at David Gerard's talkpage thread. Update from 21-March-2024: Page re-written based on mainstream RSes as suggested. Please further discuss on the main article's talkpage. --Mgloor (talk) 21:30, 21 March 2024 (UTC)
Original author(s) | Richard Heart |
---|---|
Initial release | 13 May 2023 |
Stable release | 3.2.0 (geth)[1] |
Development status | Active |
Software used | EVM 1 Bytecode |
Written in | Go, Rust, C#, C++, Java, Python, Nim, TypeScript |
Operating system | Unix, Linux, macOS, Windows |
Platform | x86-64, ARM |
Available in | Multilingual, but primarily English |
Type | Distributed computing |
License | Open-source licenses |
Active hosts | 48,854 nodes (18 March 2024) [2] |
Website | pulsechain |
PulseChain is a decentralized Layer-1 blockchain with smart contract functionality, originally founded and initiated by Richard Heart.[3] Pulse (Abbreviation: PLS[a]) is the native cryptocurrency of the platform.[4] [5]
History
Pulsechain's development began in response to the growing challenges faced by the Ethereum network scalability issues.[6] As Ethereum gained popularity, transaction fees (gas) skyrocketed [7] [8], hindering user adoption and limiting the functionality of Decentralized Applications (dApps) built on the platform.
- Conception (2021): Richard Heart, the founder of the HEX project, proposed PulseChain as a solution to Ethereum's scalability issues.[6]
- Sacrifice Phase (Early 2023): PulseChain conducted a "sacrifice" phase, allowing users to contribute various cryptocurrencies or fiat currency to designated addresses. In return, participants received equivalent amounts of Pulse (PLS) tokens once the network launched. During the PulseChain sacrifice, 25 million dollars were raised for the SENS foundation.[9]
- Mainnet Launch (May 2023): PulseChain's mainnet and its native Decetranlized Exchange (DEX) PulseX. This airdrop was hailed by some as the largest in crypto history, while others questioned its long-term economic sustainability.[10] [11] [12] [13]
- Present Day (2024): PulseChain exists as a functional network, processing transactions and facilitating dApps. Close to 50,000 active Blockchain validators validate transactions and participate in the consensus process to secure the network, ensuring adherence to network rules and preventing tampering. They contribute to block production, network security, and governance while incentivized through rewards mechanisms, fostering trust and decentralization within the blockchain ecosystem.[14]
Technical Specifications
Pulsechain is a full-state fork of the architecture of Ethereum 2.0. with major modifications reflected in PulseChain's Gitlab repository, in summary:[1]
- Consensus Mechanism: While details are still emerging, PulseChain is expected to utilize a Proof-of-Stake (PoS) consensus mechanism similar to Ethereum's current model after the Merge.
- Block Time: PulseChain boasts a faster block time compared to Ethereum, aiming for quicker transaction processing.
- Native Token: The native token of PulseChain is called Pulse (PLS). It serves various purposes within the network, including:
- Activating validators
- Paying transaction fees
- Bridging assets to other blockchains
Promises and Controversies
PulseChain promises to offer several advantages over Ethereum, including:
- Lower transaction fees: By improving scalability, PulseChain significantly reduced the gas costs associated with Ethereum transactions on its PulseChain network.
- Faster transaction processing: With a faster block time, PulseChain has proven significantly quicker confirmation times for transactions.
- Support for existing Ethereum projects: By replicating the Ethereum state, PulseChain claims seamless compatibility with existing Ethereum-based Decentralized Applications (dApps) and tokens. This "free" replication provides users with copies of their Ethereum holdings on the PulseChain network.
PulseChain is a contentious project also facing criticism:
- Centralization Concerns: The project's founder, Richard Heart, has been accused of wielding excessive control over the network, raising concerns about centralization.
- Sustainability of "Free" Tokens: Doubts exist around the long-term economic viability of replicating Ethereum assets without a clear value proposition for the PulseChain network itself.
- Legality and Regulatory Issues: The legality of PulseChain's token distribution method (referred to as a "sacrifice" phase) has been questioned, with potential regulatory hurdles on the horizon.[15]
Regulation
In the United States, the proposed Digital Commodities Consumer Protection Act would treat PulseChain and other cryptocurrencies as commodities, which could then be regulated by the Commodity Futures Trading Commission (CFTC).[16][17]
Notes
References
- ^ a b Gitlab Go-pulse source repository
- ^ Live Validator dashboard (retrieved 18 March 2024)
- ^ IMDB cinema movie about PulseChain founder Richard Heart (2023)
- ^ Forbes PulseChain ticker
- ^ Yahoo Finance PulseChain ticker
- ^ a b Wilson Research Center / Ethereum drawbacks
- ^ Forbes India article about high Eth gas fees
- ^ CNBC article about "extremly high Ethereum txn fees"
- ^ Express.co.uk article about the PulseChain fundraising
- ^ IEEE PulseChain aidrop reflected
- ^ SENS Research foundation / PulseChain airdrop
- ^ Express.co.uk article about SENS fundraising
- ^ Perspectives in Medizine Journal (March 2024) / Reference: PulseChain airdrop reflected
- ^ Linkedin.com article about PulseChain
- ^ U.S. Securities and Exchange Commision / Richard J. Schueler a/k/a Richard Heart, Hex, PulseChain, and PulseX
- ^ "Customer Advisory: Understand the Risks of Virtual Currency Trading". Commodity Futures Trading Commission.
- ^ "Bitcoin Basics" (PDF). Commodity Futures Trading Commission. December 2019. Retrieved 21 December 2022.