The PulseChain blockchain and its native DeFi swap PulseX went live on Saturday, May 13, 2023. The founder of the layer-1 solution, Richard Heart took to Twitter to confirm the development. “The PulseChain main net is now live” he tweeted opening the doors for investors to begin trading. The native swap application PulseX allows users to exchange tokens on PulseChain for one another.
Also Read: 30 Countries Now Ready to Accept BRICS Currency
The network saw around 337,000 transactions during the weekend and could experience further activity in the coming weeks. The network also saw nearly 130 transactions per block since its launch.
The blockchain was among the most-anticipated development in the cryptocurrency sphere. Hex turned green after the PulseChain blockchain launch. However, its native token PLS is yet to debut in the indices and begin trading.
Also Read: What Happens if Middle East Countries Join BRICS?
Around 215 projects are expected to build their products on the PulseChain blockchain. The projects include NFTs, tokens, and Web3 developments, among many others. Read here to know the full list of products that plan to build on the network.
The launch has thrilled the HEX community, as the development saw the light after nearly two years. The community was seen celebrating on social media with videos of popping champagne among many other commemorative reactions.
What is PulseChain?
PulseChain is a layer-1 blockchain built on the Ethereum platform but is equipped with several improvements making it cheaper, faster, and energy-efficient. The most noticeable difference between PulseChain and Ethereum could be transaction speed, cost, and the capacity of the network. PulseChain will also replace the proof of work (PoW) model with validators encrypting transactions.
Also Read: Why Are Oil Rich Nations Looking To Join BRICS?
Their website stated, “The main differences are speed, cost, deflation, and efficiency of the network. Capable of hundreds of transactions per second vastly outpaces Ethereum’s 13. Removing the need for the expensive computing power of PoW while maintaining a high level of security.”
Read here for more in-depth information about PulseChain and why the blockchain is important in the cryptocurrency sphere.