PulseChain vs Ethereum, What’s the difference?
What is Ethereum?
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Many may wonder why there are many different blockchain technologies available today. It started with the well known Bitcoin where users can store and trade BTC across the world quickly without the need for a banking system.
Then the famed Ethereum was introduced in 2015 as a means of creating more complex transactions known as Contracts. This innovation brought with it the ability for developers to create ERC-20 Tokens which exist on the Ethereum blockchain but operate in their own ecosystem. This concept changed Crypto by allowing anyone in the world to design and launch unique solutions while riding Ethereum’s robust Proof of Work blockchain network.
Over time, Ethereum has shown to be a premier network for developers to create projects. For all of it’s benefits it became clear over the past few years that ETH is not the best solution today. Transaction fees are now so high users have to compromise. Either by overpaying for quick execution, waiting for a cheaper time of day, or simply holding the coins until a better solution is created. PulseChain solves many issues users currently suffer from removing these barriers by creating a novel solution to the network’s shortcomings. So what is really the difference and why should you choose PulseChain?
First Ethereum uses a PoW or “Proof of Work” Consensus Protocol. World wide Computers crunch complex math for a fee. Termed “mining”. It provides all of the benefits we have today. However, mining comes at a very high cost. Ethereum’s PoW protocol consumes massive amounts of energy and its design is easily congested by today’s needs.
What is holding Ethereum Back?
* Energy wasting
* Inflationary (New coins are minted every few seconds)
What is Pulsechain?
Enter PulseChain! Designed for the future needs of the crypto industry it takes all of the shortcomings of Ethereum and improves them. PulseChain is a Complete Fork of the Ethereum Network. Meaning every coin, wallet ever existed on Ethereum, will be copied and available on PulseChain with one exception. Every ETH token will be converted to PLS on a 1:1 basis. The total supply of PLS will be about 1,000,000 greater than ETH to allow for a robust environment.
The main differences are speed, cost, Deflation, and efficiency of the network.. Capable of hundreds of transactions per second vastly our paces Etherums 13. Follow along to learn how this is possible.
PulseChain replaces a PoW model with a DPoS or “Delegated Proof of Stake” protocol.
Removing the need for expensive computing power of PoW while maintaining a high level of security. It also replaces Miners with Validators to secure the Network.
PoS allows for transactions to be processed extremely quickly without sacrificing security. This is possible due to trusted high performance nodes that validate each transaction backed by PLS stakers which vote in confidence with their own coins. Replacing the PoW Model frees up the computing power to validators encrypting transactions.
While Ethereum Miners hash complex math for chances to be rewarded with ETH. Pulse validators focus on securing only the transactions on the network for a small fee. This removes the need to burn large amounts of energy to achieve a reward for the work there by lowering the total cost to the network.
Every Pulse coin (PLS) is created at launch removing the ever expanding supply of the coins unlike ETH. Further, each transaction fee is burned at 75% reducing the total supply. Over time as less PLS will be available in the market the price will rise organically.
Removing the need to burn energy due to the high cost of PoW, Pulse will maintain high levels of production far into the future. As more work will be required in the future Pulse is designed for the ground up to meet this need.
PulseChain was designed to complement the current Ethereum projects as a way to reduce cost and free up congestion for all. This will revolutionize what is possible in today’s demanding crypto unvisure. I my opinion, If you like what Ethereum offer today you will most likely love what PulseChain can offer.