Source: PulseWallet website

PulseChain utilizes a Proof of Stake (PoS) consensus mechanism, which is a significant shift from the traditional Proof of Work (PoW) systems used by other blockchains like Bitcoin. This change aims to address the high energy consumption issues associated with PoW systems, making PulseChain more energy-efficient and environmentally friendly.

Consensus Mechanism

PulseChain operates on a PoS model where validators are chosen based on the amount of the network’s native token, PLS, they hold and are willing to stake. This staking process is crucial for network security as it incentivizes validators to act honestly and maintain the network’s integrity.

Security Features

The PoS mechanism inherently reduces the risk of a 51% attack, which is more prevalent in PoW systems. In PoS, to compromise the network, an attacker would need to own a significant portion of the staked tokens, which is generally cost-prohibitive. PulseChain incorporates additional security measures like validator rotation and reward-slashing policies to deter and penalize dishonest behavior among validators. This not only helps in maintaining a fair and secure network but also ensures that the power isn’t concentrated among a few large stakeholders.

Environmental Impact

By eliminating the need for energy-intensive mining operations, PulseChain significantly reduces its carbon footprint. This makes it a more sustainable choice in the blockchain space, aligning with the growing global emphasis on reducing energy use and promoting environmental sustainability.

Governance

PulseChain’s governance model allows PLS token holders to participate in important decision-making processes regarding network updates and protocol changes. This level of engagement is intended to keep the network adaptable and aligned with the community’s needs and expectations.

Smart Contracts and Fork Logic

PulseChain is fundamentally designed to be a more efficient and user-friendly blockchain compared to Ethereum, especially in terms of handling smart contracts. Given that it is a fork of Ethereum, PulseChain inherently supports all of the existing Ethereum smart contracts. This compatibility is a significant advantage, as it allows developers to migrate their applications to PulseChain without needing to rewrite or substantially modify their code.

By mirroring Ethereum’s capabilities, PulseChain allows for the seamless execution of existing Ethereum smart contracts. This compatibility extends to all tools and languages used in Ethereum’s ecosystem, such as Solidity and the Ethereum Virtual Machine (EVM). This means developers can use the same codebase and development tools they are already familiar with, reducing the barrier to entry and simplifying the transition from Ethereum to PulseChain​.

PulseChain improves upon Ethereum’s execution environment by offering faster transaction times and lower gas fees. These enhancements are beneficial for smart contract execution, making operations cheaper and more efficient, particularly for DeFi applications and other transaction-intensive activities.

Fork Logic

The specific manner in which PulseChain forked from Ethereum is also crucial to understanding its broader implications for smart contracts and the blockchain ecosystem.

Full State Fork

PulseChain didn’t just fork Ethereum’s code; it also executed a full state copy of the Ethereum blockchain at the time of the fork. This means that not only the code but also the entire ledger of account balances, smart contracts, and other digital assets were duplicated onto PulseChain. This comprehensive approach helps in preserving the state and history of applications, ensuring that they continue to function seamlessly post-fork​.

This full-state fork has significant implications. For users and developers, it means that everything from ERC-20 tokens to complex smart contracts running on Ethereum at the time of the fork now exists on PulseChain. This dual existence reduces risks associated with migration and allows users to interact with both blockchains using similar or identical assets. Furthermore, the fork also introduces a scenario where the value discovery of assets can occur independently on both blockchains, potentially leading to variations in asset valuation and utility between Ethereum and PulseChain.

Continued Synchronization with Ethereum

While the initial fork copied the state at a specific block height, ongoing interactions and transactions on Ethereum do not automatically synchronize with PulseChain. This means that any transactions or smart contract interactions occurring on Ethereum post-fork do not reflect on PulseChain unless specifically implemented to do so through cross-chain functionality or bridges​.

Overall, PulseChain’s handling of smart contracts and its fork logic present a unique blend of continuity and innovation. By leveraging the existing Ethereum ecosystem’s strengths and addressing its scalability and cost issues, PulseChain aims to offer a more efficient alternative for blockchain applications. This approach not only enhances the functionality and feasibility of using smart contracts but also broadens the scope for their application through improved performance and reduced operational costs.

Network Validators

In the PulseChain network, validators play a critical role in maintaining the integrity, security, and performance of the blockchain. Their primary responsibilities include:

Transaction Validation

Validators are responsible for verifying and validating transactions to ensure they adhere to the network rules. This process involves checking transaction signatures, ensuring that transactions are properly formed, and confirming that senders have sufficient balances.

Block Production

Validators participate in the consensus process to propose and vote on the next block. By doing so, they help the network achieve consensus and add new blocks to the blockchain.

Network Security

By staking PLS tokens, validators commit to acting honestly. If they attempt to cheat or double-spend, part of their stake can be slashed as a penalty. This staking and slashing mechanism is crucial for deterring malicious activities and securing the network.

Governance

Validators also play a role in the governance of the PulseChain network. They can vote on proposed changes to the protocol, including upgrades and parameter adjustments, reflecting their vested interest in the network’s health and growth.

Becoming a Validator

Becoming a validator on PulseChain involves several steps and requirements, primarily centered around token staking and technical setup:

Minimum Stake Requirement

To become a validator, a user must stake a significant amount of PLS tokens. The exact amount can vary based on the network’s governance decisions but is designed to be substantial enough to deter dishonest behavior.

Running a Node

Validators must run a full node on the PulseChain network. This requires maintaining hardware capable of processing transactions and blocks efficiently and continuously. The node must remain online and performant to participate effectively in consensus and block production.

Technical Expertise

Validators need a certain level of technical expertise to manage and secure their node, handle updates, and ensure uninterrupted service. This expertise is crucial for maintaining the robustness and reliability of the network.

Community Trust

Although not a formal requirement, earning the trust of the community can be essential, especially in a network where validator influence and responsibilities are significant. Trust can influence the amount of staking tokens delegated to a validator by other token holders.

Importance of Validators

Validators are essential for the operation and security of the PulseChain network. They help ensure that the blockchain remains decentralized, secure, and free from manipulation. Without validators, the network would be susceptible to various types of attacks, including double-spending and network forks. Additionally, validators support the ongoing development and improvement of the blockchain through their participation in governance and community activities.

Validators are central to the PulseChain network’s function, providing the computational resources necessary for processing transactions and creating new blocks, while also ensuring the network’s integrity through staking and governance participation. Their role is vital for the trust and reliability of the blockchain, influencing everything from transaction speeds to network upgrades.