2nd batch of references enriched. |
3rd batch of references overhauled. Plus numerous typos fixed. |
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| software = EVM 1 [[Bytecode]] |
| software = EVM 1 [[Bytecode]] |
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| funding = |
| funding = |
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| programming language |
| programming language = [[Go (programming language)|Go]], [[Rust (programming language)|Rust]], [[C Sharp (programming language)|C#]], [[C++]], [[Java (programming language)|Java]], [[Python (programming language)|Python]], [[Nim (programming language)|Nim]], [[TypeScript]] |
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| operating system = [[Cross-platform software|Cross-platform]] |
| operating system = [[Cross-platform software|Cross-platform]] |
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| platform = [[x86-64]], [[ARM architecture|ARM]] |
| platform = [[x86-64]], [[ARM architecture|ARM]] |
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Line 40: | Line 40: | ||
'''Pulsechain''' is a [[Decentralization#Blockchain technology|decentralized]] Layer-1 [[blockchain]] <ref>[https://gitlab.com/pulsechaincom Gitlab Source Repositories of Pulsechain]</ref> with [[smart contract]] functionality, originally founded and initiated by [[Richard Heart]]. '''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. |
'''Pulsechain''' is a [[Decentralization#Blockchain technology|decentralized]] Layer-1 [[blockchain]] <ref>[https://gitlab.com/pulsechaincom Gitlab Source Repositories of Pulsechain]</ref> with [[smart contract]] functionality, originally founded and initiated by [[Richard Heart]]. '''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. |
||
Pulsechain is [[Open collaboration|community driven]] <ref>[https://medium.com/@ivandcrypto/pulsechain-the-new-era-of-cryptocurrency-49a048e5bf53 Medium Article about Pulsechains community driven approach]</ref> project and its governance, management, [[Open Source|development]] and operations is decentralized and highly [[Censorship|censorship]] resistant through its [[InterPlanetary File System|IPFS network]] integration. Pulsechain does not have a single ownership. Pulsechain solved [[Ethereum|Ethereum's]] long lasting limitations, particularly related to scalability and transaction fees (gas costs) by optimizing its network architecture and [[Proof of stake|consensus mechanism]]. |
Pulsechain is [[Open collaboration|community driven]] <ref>[https://medium.com/@ivandcrypto/pulsechain-the-new-era-of-cryptocurrency-49a048e5bf53 Medium Article about Pulsechains community driven approach]</ref> project and its governance, management, [[Open Source|development]] and operations is decentralized and highly [[Censorship|censorship]] resistant through its [[InterPlanetary File System|IPFS network]] integration. <ref>[https://blockguard.medium.com/understanding-ipfs-its-impact-on-cryptocurrency-and-blockchain-ecosystem-cfa7d7075e7c Blockguard.org article about Pulsechain's IPFS blockchain leadership]</ref> Pulsechain does not have a single ownership. Pulsechain solved [[Ethereum|Ethereum's]] long lasting limitations, particularly related to scalability and transaction fees (gas costs) by optimizing its network architecture and [[Proof of stake|consensus mechanism]]. |
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Pulsechain is an efficient, fast, open-source and public [[Blockchain|blockchain platform]] launched in May 2023 and garnered massive interest. It is a full-state fork <ref>[https://academy.moralis.io/blog/what-is-pulsechain-exploring-the-pulsechain-crypto-network Academy.moralis.io reflection of the Full State Pulsechain Fork]</ref> of the [[Ethereum]] blockchain, it's a complete copy of [[Ethereum]]'s state at launch time, including all ERC20 tokens, transaction records, user accounts, and smart contract interactions. Entirely all ERC20 tokens on the [[Ethereum]] network at the time of the hard fork have been copied over to the Pulsechain network which indicates the largest airdrop of valuable digital assets in digital history. <ref>[https://cryptonews.com/news/pulsechain-airdrop-biggest-blockchain-airdrop-history.htm Cryptonews.com article about Pulsechains largest airdrop]</ref> |
Pulsechain is an efficient, fast, open-source and public [[Blockchain|blockchain platform]] launched in May 2023 and garnered massive interest . It is a full-state fork <ref>[https://academy.moralis.io/blog/what-is-pulsechain-exploring-the-pulsechain-crypto-network Academy.moralis.io reflection of the Full State Pulsechain Fork]</ref> of the [[Ethereum]] blockchain, it's a complete copy of [[Ethereum]]'s state at launch time, including all ERC20 tokens, transaction records, user accounts, and smart contract interactions. Entirely all ERC20 tokens on the [[Ethereum]] network at the time of the hard fork have been copied over to the Pulsechain network which indicates the largest airdrop of valuable digital assets in digital history. <ref>[https://cryptonews.com/news/pulsechain-airdrop-biggest-blockchain-airdrop-history.htm Cryptonews.com article about Pulsechains largest airdrop]</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 issues <ref>[https://www.coindesk.com/consensus-magazine/2024/03/11/where-did-we-go-wrong-with-ethereum-scaling/ |
Pulsechain's development began in response to the growing challenges faced by the [[Ethereum]] network issues <ref>[https://www.coindesk.com/consensus-magazine/2024/03/11/where-did-we-go-wrong-with-ethereum-scaling/ Coindesk.com article - Where did we go wrong with Ethereum Scaling]</ref>. As [[Ethereum]] gained popularity, transaction fees (gas) skyrocketed <ref>[https://www.binance.com/en/square/post/4073874622529 Binance article abou Ethereum Gas fees reach highest Levels]</ref>, hindering user adoption and limiting the functionality of Decentralized Applications (dApps) built on the platform. <ref>[https://medium.com/omniaprotocol/are-gas-fees-a-barrier-to-mainstream-blockchain-adoption-dcd214d354b Medium article reflecting gas fees a barrier to mainstream blockchain adoption ]</ref> <ref>[https://www.binance.com/en/square/post/4073874622529 Binance.com article about high Ethereum gas fees]</ref> |
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* '''Conception (2021):''' [[Richard Heart]], the founder of the HEX project, proposed Pulsechain as a solution to [[Ethereum]]'s scalability issues. The project gained traction within the cryptocurrency community, particularly among HEX holders seeking a lower-fee alternative for transactions. |
* '''Conception (2021):''' [[Richard Heart]], the founder of the HEX project <ref>[https://cryptoslate.com/people/richard-heart/ Cryptoslate.com article about HEX founder Richard Heart]</ref>, proposed Pulsechain as a solution to [[Ethereum]]'s scalability issues. The project gained traction within the cryptocurrency community, particularly among HEX holders seeking a lower-fee alternative for transactions. |
||
* '''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. This phase raised significant funds for the project but also attracted criticism for its centralized aspects. |
* '''Sacrifice Phase (Early 2023):''' Pulsechain conducted a "sacrifice" phase <ref>[https://www.binance.com/en/feed/post/522181 Binance.com article about Pulsechain sacrifice phase]</ref>, 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. This phase raised significant funds for the project but also attracted criticism for its centralized aspects. <ref>[https://captainaltcoin.com/unleashing-the-power-of-pulsechain-the-controversial-defi-community-taking-the-crypto-world-by-storm/ Captainaltcoin.com article highlighting Skpeticism and controversioal views]</ref> |
||
* '''Mainnet Launch (13th of May 2023):''' Pulsechain's mainnet and its native [[Decentralized_exchange|Decetranlized Exchange]] (DEX) '''PulseX''' <ref>[https://cryptonews.net/news/analytics/3126011/ Cryptonews.net article about PulseX exchange]</ref> went live in May 2023 |
* '''Mainnet Launch (13th of May 2023):''' Pulsechain's mainnet and its native [[Decentralized_exchange|Decetranlized Exchange]] (DEX) '''PulseX''' <ref>[https://cryptonews.net/news/analytics/3126011/ Cryptonews.net article about PulseX exchange]</ref> went live in May 2023, replicating the [[Ethereum]] state at that time and granting users copies of their Ethereum holdings on the Pulsechain network (often referred to as the "Pulsegrid"). This "free" airdrop was hailed by some as the largest in crypto history, while others questioned its long-term economic sustainability. |
||
* '''Present Day (2024):''' Pulsechain exists as a functional network, processing transactions and facilitating dApps. Since inception, there was no incident or downtime. Close to 50,000 active [[Proof of stake|Blockchain validators]] <ref>[https://beacon.pulsechain.com/validators#active Realtime live Blockchain Dashboard of active Pulsechain Validator Nodes]</ref> 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. |
* '''Present Day (2024):''' Pulsechain exists as a functional network <ref>[https://scan.mypinata.cloud/ipfs/bafybeidn64pd2u525lmoipjl4nh3ooa2imd7huionjsdepdsphl5slfowy/#/txs Live Pulsechain Block Explorer on mainnet]</ref>, processing transactions and facilitating dApps. Since inception, there was no incident or downtime. Close to 50,000 active [[Proof of stake|Blockchain validators]] <ref>[https://beacon.pulsechain.com/validators#active Realtime live Blockchain Dashboard of active Pulsechain Validator Nodes]</ref> 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. |
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==Technical Specifications== |
==Technical Specifications== |
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Line 72: | Line 72: | ||
Pulsechain is a contentious project also facing criticism: |
Pulsechain is a contentious project also facing criticism: |
||
* '''Centralization Concerns:''' The project's founder, [[Richard Heart]], has been accused <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> of wielding excessive control over the network, raising concerns about centralization. |
* '''Centralization Concerns:''' The project's founder, [[Richard Heart]], has been accused <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> of wielding excessive control over the network, raising concerns about centralization. <ref>[https://protos.com/richard-hearts-pulse-launch-flops-users-stranded-hex-crashes/ Protos.com article about Pulsechain issues at its launch in May 2023]</ref> |
||
* '''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. |
* '''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. |
* '''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. |
Revision as of 17:46, 16 March 2024
Original author(s) | Richard Heart |
---|---|
Initial release | 13 May 2023 |
Stable release | 3.2.0 (geth) |
Development status | Active |
Software used | EVM 1 Bytecode |
Written in | Go, Rust, C#, C++, Java, Python, Nim, TypeScript |
Operating system | Cross-platform |
Platform | x86-64, ARM |
Available in | Multilingual, but primarily English |
Type | Distributed computing |
License | Open-source licenses |
Active hosts | 47,391 nodes (15 March 2024)[1] |
Website | pulsechain |
Pulsechain is a decentralized Layer-1 blockchain [2] with smart contract functionality, originally founded and initiated by Richard Heart. Pulse (Abbreviation: PLS;[a] is the native cryptocurrency of the platform.
Pulsechain is community driven [3] project and its governance, management, development and operations is decentralized and highly censorship resistant through its IPFS network integration. [4] Pulsechain does not have a single ownership. Pulsechain solved Ethereum's long lasting limitations, particularly related to scalability and transaction fees (gas costs) by optimizing its network architecture and consensus mechanism.
Pulsechain is an efficient, fast, open-source and public blockchain platform launched in May 2023 and garnered massive interest . It is a full-state fork [5] of the Ethereum blockchain, it's a complete copy of Ethereum's state at launch time, including all ERC20 tokens, transaction records, user accounts, and smart contract interactions. Entirely all ERC20 tokens on the Ethereum network at the time of the hard fork have been copied over to the Pulsechain network which indicates the largest airdrop of valuable digital assets in digital history. [6]
History
Pulsechain's development began in response to the growing challenges faced by the Ethereum network issues [7]. As Ethereum gained popularity, transaction fees (gas) skyrocketed [8], hindering user adoption and limiting the functionality of Decentralized Applications (dApps) built on the platform. [9] [10]
- Conception (2021): Richard Heart, the founder of the HEX project [11], proposed Pulsechain as a solution to Ethereum's scalability issues. The project gained traction within the cryptocurrency community, particularly among HEX holders seeking a lower-fee alternative for transactions.
- Sacrifice Phase (Early 2023): Pulsechain conducted a "sacrifice" phase [12], 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. This phase raised significant funds for the project but also attracted criticism for its centralized aspects. [13]
- Mainnet Launch (13th of May 2023): Pulsechain's mainnet and its native Decetranlized Exchange (DEX) PulseX [14] went live in May 2023, replicating the Ethereum state at that time and granting users copies of their Ethereum holdings on the Pulsechain network (often referred to as the "Pulsegrid"). This "free" airdrop was hailed by some as the largest in crypto history, while others questioned its long-term economic sustainability.
- Present Day (2024): Pulsechain exists as a functional network [15], processing transactions and facilitating dApps. Since inception, there was no incident or downtime. Close to 50,000 active Blockchain validators [16] 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.
Technical Specifications
- 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 [17] of wielding excessive control over the network, raising concerns about centralization. [18]
- 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.
Regulation
In the United States, the proposed Digital Commodities Consumer Protection Act would treat Ethereum and other cryptocurrencies as commodities, which could then be regulated by the Commodity Futures Trading Commission (CFTC).[19][20]
Notes
References
- ^ "Realtime live Blockchain Dashboard of active Pulsechain Validator Nodes". 15 March 2024. Retrieved 15 March 2024.
- ^ Gitlab Source Repositories of Pulsechain
- ^ Medium Article about Pulsechains community driven approach
- ^ Blockguard.org article about Pulsechain's IPFS blockchain leadership
- ^ Academy.moralis.io reflection of the Full State Pulsechain Fork
- ^ Cryptonews.com article about Pulsechains largest airdrop
- ^ Coindesk.com article - Where did we go wrong with Ethereum Scaling
- ^ Binance article abou Ethereum Gas fees reach highest Levels
- ^ Medium article reflecting gas fees a barrier to mainstream blockchain adoption
- ^ Binance.com article about high Ethereum gas fees
- ^ Cryptoslate.com article about HEX founder Richard Heart
- ^ Binance.com article about Pulsechain sacrifice phase
- ^ Captainaltcoin.com article highlighting Skpeticism and controversioal views
- ^ Cryptonews.net article about PulseX exchange
- ^ Live Pulsechain Block Explorer on mainnet
- ^ Realtime live Blockchain Dashboard of active Pulsechain Validator Nodes
- ^ U.S. Securities and Exchange Commision / Richard J. Schueler a/k/a Richard Heart, Hex, PulseChain, and PulseX
- ^ Protos.com article about Pulsechain issues at its launch in May 2023
- ^ "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.