In this article we will compare Pulsechain VS Ethereum, but first, a little bit about blockchain history.
A bit of Blockchain history
Many may wonder why there are so 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. Some famous examples are Ether (the native token), HEX, Shiba Inu, Tether, Chainlink & more. 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 its benefits, it became clear over the past few years that Ethereuem is not the best solution today. Transaction fees, aka gas fees, are now so high users have to compromise. Either by overpaying for quick execution, waiting for a cheaper time of day, simply holding the coins until a better solution is created. Some technologies, like gaming, had to abandon Ethereum altogether because they render useless with such high gas fees.
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?
What is PulseChain?
PulseChain is a soon to be released, fast, affordable and sustainable blockchain. It is a hard fork of Ethereum, which means that on day 0 of its launch it shall contain the exact same historical data as Ethereum’s blockchain. This will be achieved by running concurrently to Ethereum and then forking off at a specified time with all of Ethereum’s data to create a new chain.
Its native token is Pulse (PLS), which shall be airdropped to anyone who sacrificed during the makings of the project and anyone who holds ETH in their wallet on the day PulseChain mainnet launches. Additionally, PulseChain shall replicate all the content of your wallet on the Ethereum network. Be sure to read more about that here if you want to duplicate your coins!
What is Ethereum?
Ethereum, launched on July 30, 2015, is the biggest programmable blockchain out there. In contrast to bitcoin, you can use it for lots of different digital assets and building decentralized applications. It’s a community-built technology behind the cryptocurrency ether (ETH) and thousands of other applications you can already use today.
This is currently the go-to network for any company wanting to take the safe road, because of the amount of users and developers who are familiar with it.
What is holding Ethereum Back?
PulseChain vs Ethereum?
Both are decentralized networks that are built on blockchain technology. Both provide similar opportunities for investors, creators and developers. PulseChain and Ethereum are alike in many ways since one is used as the foundation for the other. Therefore, it should be easy for any existing project or asset on Ethereum to launch on PulseChain with minimal adjustments.
Pulsechain sets itself apart from Ethereum in having lower gas fees (the amount paid for each transaction on the chain), 4x higher throughput, by using 3 second block times against Ethereum’s ~13 seconds and by using a consensus mechanism called delegated proof of stake (DPoS) against proof of work (PoW).
Also, in contrast to Ethereum’s native token Ethere (ETH), PulseChain’s native token Pulse (PLS) is deflationary, because it burns 25% of each transaction’s fees in order to reduce circulating supply. This increases the rarity, thus the value of Pulse.
This last point is very important since, in order to grow a blockchain responsibly, moving away from PoW is almost inevitable. A PoW blockchain is driven by sheer computing power, thus electricity. A lot of energy is being burnt, arguably wasted, to fuel such blockchains. Whereas DPoS is driven by community elected validators based on the amount of tokens staked. Simply put, the blockchain functions thanks to its members staking (or locking up) their assets. It has nothing to do with energy being burnt and is therefore much more sustainable and environmentally friendly.
It’s worth noting, however, that Ethereum is undergoing an upgrade from PoW towards PoS, which could resolve some of its current energy concerns. The release date has been pushed back for a while due to the complexity of this endeavour.
The Older vs The Younger Brother
Ethereum has been around for a while and is hands down the busiest blockchain out there. It is thoroughly documented and it would be safe to say that more projects and assets have been launched on Ethereum than on any other network. If you’re planning to use a DApp (decentralized app) most likely it’s built on Ethereum. If you’re planning to release a DApp you’d probably consider Ethereum first.
However, lately, Ethereum’s gas fees, a fee paid for each transaction on the blockchain, have gone through the roof. Oftentimes averaging up to 100$ per day and reaching as high as thousands of dollars sometimes.
High gas fees are obviously a huge limitation on Ethereum both for app creators whose projects have been rendered unusable and the common users for whom it makes no sense to pay a fee higher than the transacted amount. Why would you sell an NFT for 10$ if the fee is 50$ or 100$?
Pulsechain addresses this by lowering the gas fees to insignificant amounts. Thus, giving any creator or developer out there the opportunity to create DApps with transactions as low as a few dollars or less. For anyone looking to dip their feet in clean waters or walk and build on new land, PulseChain is the way to go. If you want some free test Pulse to get started go this way to the HowToPulse faucet.
Finally, one thing that marks both of these projects out from their competitors is the community. The mainstream adoption of Ethereum and its development is a feat of their developer-based community. PulseChain’s community, on the other hand, is much more represented by all walks of life. It currently has an active Telegram group of over 60k members, with a 24/7 live chat and call where anyone can get answers about the project. People with different talents looking for opportunities should drop by and share their idea. The right people will notice!
Reach out to us on Telegram if you have any further questions!
www.howtopulse.com is not affiliated with PulseChain in any form.