Since HEX Founder Richard Heart casually mentioned creating an Ethereum fork, we know little about his latest project: PulseChain.
For what we do know, it is going to be a new “Cheaper, Faster, Fee-Burning Ethereum Fork.”
The main reason for creating this Ethereum fork is due to the constantly increasing and overwhelming gas (transaction) fees for ERC20 tokens on the Ethereum network. Depending on the time of day and day of the week, gas (transaction) fees can range from $30 to over $100 depending on network traffic, no matter the size of the amount be transferred or staked. This hurts the little man, or as we see it, the new entries into the cryptocurrency world. You can call it a huge barrier to entry for most people who don’t plan on dropping $10,000+ on a transaction.
Enter PulseChain. Aimed at being a new fork where transaction fees are drastically lower that those mentioned above, this is about all we know thus far as details have been scarce. But hey, we are liking what we see thus far.
As we get more details and news about HEX & the PulseChain project we will post them here.
Thanks for staying tuned.