PulseChain: An Innovative Attempt of Ethereum Hard Fork

PulseChain is a full state Hard Fork chain of Ethereum, retaining all transaction records, user accounts, and smart contract interactions from the Ethereum blockchain. The platform aims to alleviate the computational pressure on the Ethereum network and provide developers with a more cost-effective option.

PulseChain increases the value of the Ethereum network by offloading some network load and reducing gas fees. Compared to Ethereum's block time of 15 seconds, PulseChain has a block time of 12 seconds, theoretically providing faster transaction speeds and stronger scalability.

In terms of consensus mechanism, PulseChain adopts a new Proof of Staked Authority (PoSA) model, introducing native validator staking, rotation, and reward reduction contracts. As of now, the PulseChain network has 15,893 validating nodes. Anyone can become a validator by staking 32,000,000 PLS tokens and earn profits from the network transaction fees.

PulseChain officially launched on May 14 this year, having previously completed testing for versions V3 and V4.

Token Economics

PLS is the native token of PulseChain, used to pay for network gas fees. PLS adopts the PRC-20 token standard, which is a variant of the Ethereum ERC-20 standard.

The total supply of PLS tokens is 1.35 trillion, with over 90% held by a single address, which is believed to be related to the project founder. Validators can earn 75% of the transaction fees, while the remaining 25% is burned to reduce circulation. In the future, PLS tokens will also be used for community governance and on-chain voting.

PLSX is the platform token of the PulseX exchange, and users can earn benefits such as PLS airdrops and trading fee discounts by holding it. 21% of PulseX fees will be used to buy back and burn PLSX tokens.

The INC token serves as a reward token for staking mining, and users can obtain it by pledging LP.

Project Ecosystem

The PulseChain ecosystem currently includes the following main projects:

1. PulseX: The official DeFi token exchange platform, a fork of Uniswap.

2. Liquid Loans: A project dedicated to developing a native over-collateralized stablecoin. Users can collateralize PLS to obtain an interest-free stablecoin USDL.

3. Powercity: A team composed of project supporters, covering multiple sub-projects such as staking, cross-chain bridges, lending, and NFT exchanges.

4. Ph series projects: including Phiat (lending platform), Phamous (perpetual contract exchange), Phux (multi-currency liquidity pool exchange) and Phatty (wallet aggregator).

Market Performance

After the launch of PulseChain's mainnet, its total value locked (TVL) on DeFiLlama quickly reached nearly $500 million, temporarily surpassing well-known public chains like Solana. However, this data mainly comes from PulseX, where the PLSX-WPLS trading pair accounts for a significant proportion.

Recently, a trading platform announced the launch of the PLS/USDT trading pair, providing more liquidity for PLS. Before this, users needed to cross-chain their funds to the Pulse network to purchase PLS.

Overall, PulseChain, as an emerging project, shows certain potential but also faces many challenges and uncertainties. Investors need to carefully assess risks and gain a deep understanding of the project details before participating.