Executive Summary: What Is Pulsechain? One of Crypto’s Most Controversial Projects
In this article, I explore Pulsechain, the controversial Ethereum fork created by Richard Heart. I discuss criticism surrounding its buggy launch, founder's background, sister project HEX, and problems with transaction fees and exchange listings.
Summary: Pulsechain is a controversial Ethereum fork created by Richard Heart that aimed to enrich ETH holders but has faced criticism over its launch, bugs, founder's background, and questionable track record.
What is Pulsechain:
- Fork of Ethereum network created by Richard Heart
- Claimed faster speeds and more scalability than Ethereum
- Users participated in "sacrifice" to get native PLS tokens
Founder Richard Heart:
- Internet marketer and founder of HEX token
- Critic of Ethereum's limitations and inefficiencies
Pulsechain tokenomics:
- Native token PLS has fixed supply distributed via sacrifice
- Implements burn and staking mechanics
Controversy around Pulsechain:
- Dubious sacrifice phase launch
- Buggy mainnet with issues like price spikes
- Founder has questionable background
- Sister project HEX seen as Ponzi scheme
Problems with launch:
- No major exchange listings initially
- Expensive transaction fees and fake PLS variants
- Questions around founder selling raised ETH
Full article:
What Is Pulsechain? One of Crypto’s Most Controversial Projects | CoinMarketCap
CoinMarketCap Alexandria dives into Pulsechain, one of the most controversial layer-1 blockchains that aims to improve the Ethereum ecosystem.
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