PulseChain is a fast, open-source, public blockchain and a cost-effective hard fork of the Ethereum. It is the first hard fork to contain the complete state of the Ethereum blockchain, meaning that it holds records of every transaction, user account, and smart contract interaction on Ethereum.
Furthermore, PulseChain uses a fork of the Binance Smart Chain (BSC) Proof-of-Stake consensus mechanism, Parlia. However, the project has since moved toward a new Proof of Staked Authority (PoSA) consensus mechanism, which introduces native validator staking, rotation, and reward-slashing contracts.
PoSA combines Proof-of-Stake (PoS) and Proof-of-Authority (PoA) to offer a next-generation hybrid consensus model that overcomes many of the inefficiencies of legacy consensus mechanisms.
While the Proof-of-Work (PoW) consensus model promotes decentralization, it is often inefficient at preventing attacks for smaller networks.
Interoperability Between PulseChain and Ethereum...?
The PulseChain network is fully-interoperable with Ethereum. Anyone can buy and sell ETH or Ethereum tokens on PulseChain. Plus, PLS is available as an ERC-20 token. Also, the interoperable PulseBridge allows users to bridge assets between multiple blockchain networks. PulseBridge works by allowing users to lock assets in a smart contract and issue assets like pETH at a 1:1 ratio.
Interoperability is an essential component of the Web3 landscape. In the past, blockchain networks and their communities have been segregated. However, interoperability allows blockchain development communities to collaborate and expedite innovation. Moreover, interoperability helps decentralized finance (DeFi) protocols access better liquidity and provide a better user experience for the users of all kinds of Web3 protocols.
