pulsechains

[pulsechains]

How to Get Started with PulseChain – PLS Mainnet Launch Prep

https://sites.google.com/view/pulsechain/home/how-to-get-started-with-pulsechain-pls-mainnet-launch-prep

[pulsechains]

PulseChain (PLS) Launch: Everything You Need to Know

https://sites.google.com/view/pulsechain/home/pulsechain-pls-launch-everything-you-need-to-know

[pulsechains]

PulseChain A Simple Explanations

PulseChain A Simple Explanations

PulseChain is a new blockchain-based cryptocurrency ecosystem that claims to offer significant enhancements over Ethereum. Moreover, the launch of the PulseChain platform is claimed to be the largest airdrop, or initial distribution, in the history of blockchain. DappRadar investigates. To be clear from the start, PulseChain is the network while Pulse (PLS is the proposed ticker) is the native…

[pulsechains]

PulseChain versus Ethereum

The PulseChain team has highlighted several features that it says set the project apart from Ethereum. The team says PulseChain will be more energy-efficient, faster, and cheaper than Ethereum. It’s worth noting, however, that Ethereum is undergoing an upgrade that could resolve some of its current energy concerns. Ethereum’s Ether token has no maximum supply cap, which creates the risk of…

[pulsechains]

PulseChain What Consensus Mechanism Does It Use?

PulseChain is the new kid on the block. A faster, more energy-efficient and more affordable version of the well-known Ethereum blockchain. PulseChain relies on a Proof of Stake Authority (PoSA) consensus mechanism, which is a combination of Delegate Proof of Stake (DPoS) and Proof of Authority (PoA). Also known as the Parlia consensus engine.

The PoSA enables 33 validators to verify transactions and validate blocks. PoSA takes the principles of democracy such as voting and using an election process and brings it to the blockchain. The biggest Pulse (PLS) holders can lock up their PLS  to become a validator and all other PLS token holders can delegate their tokens to their favorite validators. It gives power to the people in order to protect PulseChain from malicious attacks and centralization.

What is a validator?

Validators are PulseChain nodes that check the validity of each transaction and generate new blocks. The 33 validators who have staked the most Pulse (PLS) will be validating or denying transactions. When they validate a transaction and generate a new block they receive a financial reward.

The gas fees you have to pay on PulseChain (or any other blockchain for that matter) to make a transaction are paid partly to the validators. 75% of all gas fees on PulseChain go to the validators and their delegators. We pay them to verify the legitimacy of each transaction and keep PulseChain healthy and alive by producing new blocks. The remaining 25% are burnt to reduce circulating PLS supply, which encourages deflation of PLS.

If a validator starts acting against a healthy PulseChain by violating security principles, the validator rules or if the validator node experiences downtime it will get slashed. I.e. it will get punished by having a part of its stake cut. This enables the finality of the chain. It’s simple, act bad and lose money. Act right, and make money and keep the chain alive. How do you become a validator on PulseChain?

First, you’ll need to launch a PulseChain full node with enough storage and compute power to be able to verify transactions and produce new blocks. High availability of this node is essential, otherwise, you risk getting slashed and losing money.

When the chain is up and running you have to register by staking 500K PLS. Depending on the blockchain this can either be done on a website (easy) or through the command-line interface (hard). On PulseChain it can be done via the official staking website: https://stake.v2.testnet.pulsechain.com/

In order to become a validator, one has to stake a substantial amount of the native token, in this case, 500K Pulse (PLS). Note, that this will be a NON-REFUNDABLE AMOUNT. The high cost is meant to avoid spam and to attract only serious validators. Once this entry fee is staked, the user is now part of the validator pool. In order to start validating new blocks and start receiving their share from the transaction fees, the validator has to be among the top 33 stakers in the validator pool. These are called bonded validators. The more you’ll have staked the more you will be rewarded.

Validator Rotation

Validators can unregister at any time, but they will be removed from the pool only at the next validator rotation. Validator rotation happens every 28,000 blocks, that is approximately every 24h around 9:05 pm UTC. This is called an Era. After each Era a validator is rewarded its due amount and validators are rotated by removing those who decided to quit or replacing the lower stake validators with those who have now higher stakes.

Interesting note for validators: when registering you can specify the revenue share that’ll go to the delegators. A higher share will potentially attract more delegators since they can earn more by delegating their PLS. A lower share will mean more PLS to the validator himself.