The much-anticipated launch of PulseChain took place on May 13, 2023. The project, spearheaded by HEX founder Richard Heart, is a fork of the Ethereum blockchain that aims to address some of its limitations, such as high gas fees and slow transaction speeds.
PulseChain’s Origins
PulseChain’s origins can be traced back to 2021 when Richard Heart announced his plans for a new blockchain. Heart is a prominent figure in the cryptocurrency space, who has also been a vocal critic of Ethereum and its high gas fees.
In July 2021, Heart launched the PulseChain ‘sacrifice phase’, which in the eyes of many was a possibility of an early investment in the new project, a kind of a pre-sale or an Initial Coin Offering where users received points and the number of points depended on the day on which the sacrifice was made and the dollar value of the cryptocurrency being sacrificed at the same time.
Richard treated PulseChain as a political statement of the users involved, which has no monetary value. The participation in the sacrifice was a demonstration of the user’s faith that the blockchains are free speech which is a protected human right and not a means of investment.
Sacrifice was therefore not an ICO.
Users who donated money to the sacrifice could not expect anything and knew that they may or may not make money. And while it is not hard to guess that all or almost all those who sacrificed their money were hoping to make a profit, in practice their hands would have been tied if, for instance, PulseChain had never been launched.
PulseChain’s Goals
PulseChain has several goals, including:
- Increase Ethereum value by sharing its load and consequentially lowering its fees
- Enrich Ethereum users by re-enabling priced out use cases: Instead of launching empty, PulseChain brought the ETH system state and ERC20s. This rewarded holders and founders of Ethereum based projects.
- Enrich ERC20 and NFT users. The launch of PulseChain was the largest airdrop in history. Thousands of Ethereum based tokens and NFTs received their free PulseChain versions. This new gold rush contains the value discovery of thousands of tokens and NFTs on PulseChain. If you always wanted to be a whale in a certain ERC20 or NFT, maybe now you can be.
- Lower PulseChain fees and serve more users. PulseChain is 17% faster than Ethereum with 10 second blocks instead of 12.
- Improve game theory. PulseChain reduces the issuance of PLS by 25% per block, compared to Ethereum.
- Empower PulseChain holders. PulseChain’s native token $PLS can be used to activate validators to earn PLS for helping to secure the network.
PulseChain’s Launch & First Six Months
The much-anticipated launch of PulseChain took place without any hiccups on May 13, 2023. It has worked flawlessly since then 24/7. While it’s still in its early stages, it has the potential to become the most important player in the cryptocurrency market.
The project has a team of experienced developers and objectively the biggest, strongest, and most vocal community of more than 180 content creators and hundreds of thousands of users, supporters, and investors.
The PulseChain launch and performance to date was an overwhelming success story. While still being young, it has already had a significant impact on the cryptocurrency space. The project has helped to raise awareness of the limitations of Ethereum, and it has also encouraged other developers to explore alternative blockchain solutions.
PulseChain is also a major player in the decentralized finance (DeFi) space. The project’s unique features and apps developed on it to date have helped to popularize the concept of DeFi.
PulseChain’s Price Performance
As the PulseChain launch date was approaching, the crypto community has increasingly tried to predict the launch price of the PLS token. For instance the howtopulse.com website speculated that the launch price will settle within $0,00017-$0,00054 range.
Some influencers predicted that, PLS tokens will see a 20-fold increase after three months, 70-fold after six months and 300-fold after 12 months. These values are very impressive, although opponents regarded them as phantasmagoria.
In reality Pulse tokens launched at the value of $0 as promised by Richard Heart to avoid tax implications for the sacrificers. It quickly, however, reached the price of $0.00029 which was within the range predicted by howtopulse.com.
Bear market headwinds and baseless lawsuit by the corrupt U.S. Securities and Exchange Commission aiming to extort money from Richard Heart pushed down the price of Pulse tokens to around $00006 as of November, 26, 2023 invalidating the predictions of almost all pro-Pulsechain influencers to date.
However, six month and change in the history of any blockchain’s price performance is nothing to judge it by. It took Polkastarter one year to increase in value 608 times, and over 2,5 years for Matic to increase in value 1003 times. The worst performing blockchains such as Tron or Avax took between 1.5 to 4 years to increase in price between 120 to 150 times.
Since Ethereum went up 2858 times over the period of 6 years, the current PulseChain price is nothing more than an aggressive, screaming buying opportunity for everyone with a longer attention span than a teenage TikTok scroller.
Conclusion
PulseChain is a revolutionary project that has the potential to change the way we think about and interact with the blockchains, cryptocurrencies, and finance. While it’s still in its early stages, it has already had a significant impact on the cryptocurrency space. PulseChain is a project to watch.
Read more in my book: Second Crypto Revolution: Build Generational Wealth With Richard Heart’s Crypto Ecosystem available as an e-book on Kindle, paperback, and an audiobook.