ETH, ATH, Fees and Fork
We all knows how nice is this year bull run, with Bitcoin has already making a huge run beating the 2017 Bull run ATH with almost triple the price at that time, still nicely sitting on 50-60K USD price.
On the other hand, ETh being the second most popular crypto is even performing even bigger than bitcoin. Breaking the $3000 marks earlier this months, not even a week later already breaking $4000 marks. what a performance.
But the downside of those price rise is that the transaction fee on Eth are also rising. Before the Binance Smart Chain become a new playground for new project using a smart contract and DEFI.
DEFi on ETH seems to be a rich kid toys, as the fees are skyrocketing. In some cases, taking profit for any token or harvesting Yield Farming can cost as much as the profit itself. So what the point of getting profit which all being eaten up by the transaction fees?
The dev are already addressing this matter as they are already planning to switch from a POW algorithm into a POS algorithm which then will help reducing the fees and having more transaction per seconds. Its still along journey tough as there has been a challenge from the miner about the transition, as they see a loss in revenue. Also the transition has to be done flawlessly as there are Billions of of Dollars in stake.
PulseChain, “Cheaper, Faster, Fee-Burning Ethereum Fork.”
While other are waiting for the upgrade from the ETH Development teams, some other are taking the step in their own hands. And that guy is Richard Heart the Founder of Hex token Project. He plans on forking the Ethereum, and not just the main chain, but also all of its token and smart contracts that had already been deployed on the chain.
There has not been any clear info about the fork, from two web containing pulsechain, https://pulsechain.com and https://pulse-chain.com there has not been very clear info about how the chain will works and how it will be deployed, but it seems they have missed a goal to get the chain up and running on the end of April.
If they really wants to kills a giant like ETH they really should prepare things really well and things should run flawlessly, or it will be slayed in a minutes by ETH superior power.
If you want to read more about pulsechain you can check their twitter or heads into their telegram
Posted Using LeoFinance Beta
Cheers for the link. I rekon it will drive users down but prices up. Can't see new projects launching off ethereum if it continues to have high fees
Posted Using LeoFinance Beta
Yay! 🤗
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