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re: Official CryptoTalk Thread
Posted on 7/9/22 at 4:27 pm to FnTigers
Posted on 7/9/22 at 4:27 pm to FnTigers
quote:
Better prepare for some Pulsechain in that % when it launches.
I agree. Day one in a major L1 launch is the easiest money we will make in crypto. I personally believe PulseChain to be the LINK or Solana of 2023.
0
Posted on 7/9/22 at 4:28 pm to Jon Ham
quote:
What do y’all think is the best strategy for betting on layer 1 smart contract protocols long term?
The earlier the better is the name of the game in crypto.
Posted on 7/10/22 at 10:31 am to FnTigers
quote:
Better prepare for some Pulsechain in that % when it launches.
What’s the elevator pitch for why Pulsechain will be a real competitor to ETH 2.0 and the other main layer 1’s.
Posted on 7/10/22 at 2:25 pm to Jon Ham
quote:
What’s the elevator pitch for why Pulsechain will be a real competitor to ETH 2.0 and the other main layer 1’s.
PulseChain is an entire Ethereum network clone creating the largest air drop of all time. Millions of people will be given tokens to trade on the PulseChain network. That's instant adoption.
PulseChain upgrades Ethereum’s speed (3 second blocks), reduces transaction costs (fractions of a penny), and introduces proof of stake while retaining ETH’s security.
The Pulse developers designed it so that ERC-20 token developers could move to Pulse with nearly 0 work.
PLS tokens are deflationary with no tokens ever created and 25% of transaction fees burned forever.
HEX alone brings hundreds of thousand of people to the network for the next 15 years.
This post was edited on 7/10/22 at 2:27 pm
Posted on 7/10/22 at 3:39 pm to tenderfoot tigah
quote:
while retaining ETH’s security
Of all the bold claims, this is the boldest, especially on PoS where chain security is directly tied to monetary value of the staked asset.
This post was edited on 7/10/22 at 3:42 pm
Posted on 7/10/22 at 3:54 pm to tenderfoot tigah
Is this a fair statement: Pulsechain is aiming to be what Ethereum 2.0 is aiming to be but with Richard Heart’s name on it.
Posted on 7/10/22 at 4:12 pm to Jon Ham
Pretty close but cheaper transactions and probably Solana-esque hardware requirements for validator because of those cheaper transactions
Ethereum L1 will never have cheap gas again. Gas right now is as cheap as it likely ever will be again. ETH L1 will be the settlement layer for all of the L2s.
Its more like "aiming to be what ethereum could be if the roadmap was to stay a monolithic chain"
Ethereum L1 will never have cheap gas again. Gas right now is as cheap as it likely ever will be again. ETH L1 will be the settlement layer for all of the L2s.
Its more like "aiming to be what ethereum could be if the roadmap was to stay a monolithic chain"
This post was edited on 7/10/22 at 4:53 pm
Posted on 7/10/22 at 5:25 pm to Hulkklogan
quote:
Of all the bold claims, this is the boldest, especially on PoS where chain security is directly tied to monetary value of the staked asset.
There are many chains with small market caps that don't have the unlimited resources that PulseChain devs have.
Posted on 7/10/22 at 5:33 pm to tenderfoot tigah
Claiming Pulse inherits the economic security of Ethereum is disingenuous.
Pulse will have its own economic security, and it will probably be less than Ethereum for a long time, if not forever. It may be enough as long as nobody with deep pockets acts maliciously.
But who will be staking PLS to secure the network at launch? Is it all coming from RHs pockets initially?
Pulse will have its own economic security, and it will probably be less than Ethereum for a long time, if not forever. It may be enough as long as nobody with deep pockets acts maliciously.
quote:
have the unlimited resources that PulseChain devs have.
But who will be staking PLS to secure the network at launch? Is it all coming from RHs pockets initially?
Posted on 7/10/22 at 5:34 pm to Hulkklogan
quote:
Its more like "aiming to be what ethereum could be if the roadmap was to stay a monolithic chain"
Is there something about monolithic chains that make them more enticing or advantageous to developers or users? I’m thinking “so what if it doesn’t need a layer 2, their end result is the same.”
This post was edited on 7/10/22 at 5:35 pm
Posted on 7/10/22 at 5:36 pm to Hulkklogan
quote:
But who will be staking PLS to secure the network at launch? Is it all coming from RHs pockets initially?
I'm assuming the same people who are staking and validating on test net. Everything is running pretty smoothly. I would think the devs are smart enough to coordinate that stuff for launch.
Posted on 7/10/22 at 5:39 pm to Hulkklogan
quote:
Claiming Pulse inherits the economic security of Ethereum is disingenuous.
They used a lot of code from ETH and per the devs found multiple issues that they forwarded to the ETH developers and fixed. When you have a multi billion dollar war chest, you get "the best devs money can buy." Former project leads at Google, Amazon, Apple, etc.
Posted on 7/10/22 at 5:41 pm to Jon Ham
quote:
Is there something about monolithic chains that make them more enticing or advantageous to developers or users? I’m thinking “so what if it doesn’t need a layer 2, their end result is the same.”
It's super annoying and expensive bridging back and forth between chains. And don't get me started on chains with multiple tokens. BNB is about as retarded as it gets.
Posted on 7/10/22 at 5:45 pm to Hulkklogan
quote:some very well respected guys in the community are running validators. They all have significant followings that will be delegating to them. And our community is extremely strong. If someone is a bad actor, it would get squashed at the next rotation pretty quickly.
But who will be staking PLS to secure the network at launch? Is it all coming from RHs pockets initially?
Posted on 7/10/22 at 5:59 pm to Jon Ham
The end result for users, in the short term, will be better experience.. The modular route will create fragmentation of liquidity and other challenging things for a time. Ethereum is in an awkward teenager stage.
The real issue is that, IMO, modular block chains are likely going to go the way of the dodo bird eventually. It all goes back to the blockchain trilemma of scalability, decentralization, and throughput. In monolithic systems you can really only achieve 2/3. To get high throughput and scalability, you must sacrifice decentralization. As the monolithic chain grows and block space fills, you either have to A) allow fees to increase or B) increase block space to allow for more throughput, which will further increase the hardware required for nodes, which is a centralizing force.
A modular approach attempts to solve for this by breaking up functions of a blockchain into specialized chains/nodes of their own. Ethereum is starting it with execution layer (L2s), but will also scale data availability (danksharding), validation, block production, etc. etc. This is the Ethereum roadmap.
Other chains have their own implementations. Avalanche has subnets, Harmony One and Tezos have sharding, etc.
The real issue is that, IMO, modular block chains are likely going to go the way of the dodo bird eventually. It all goes back to the blockchain trilemma of scalability, decentralization, and throughput. In monolithic systems you can really only achieve 2/3. To get high throughput and scalability, you must sacrifice decentralization. As the monolithic chain grows and block space fills, you either have to A) allow fees to increase or B) increase block space to allow for more throughput, which will further increase the hardware required for nodes, which is a centralizing force.
A modular approach attempts to solve for this by breaking up functions of a blockchain into specialized chains/nodes of their own. Ethereum is starting it with execution layer (L2s), but will also scale data availability (danksharding), validation, block production, etc. etc. This is the Ethereum roadmap.
Other chains have their own implementations. Avalanche has subnets, Harmony One and Tezos have sharding, etc.
This post was edited on 7/10/22 at 6:06 pm
Posted on 7/10/22 at 6:00 pm to tenderfoot tigah
quote:
They used a lot of code from ETH and per the devs found multiple issues that they forwarded to the ETH developers and fixed. When you have a multi billion dollar war chest, you get "the best devs money can buy." Former project leads at Google, Amazon, Apple, etc.
I'm talking economic security from 51% attacks and bad actor nation states and the like, not security of the codebase (though that's obviously important too)
This post was edited on 7/10/22 at 6:02 pm
Posted on 7/10/22 at 6:12 pm to Hulkklogan
quote:
I'm talking economic security from 51% attacks and bad actor nation states and the like, not security of the codebase (though that's obviously important too)
A 51% attack cannot happen on PulseChain unless RH does it himself.
Posted on 7/10/22 at 6:18 pm to tenderfoot tigah
quote:
A 51% attack cannot happen on PulseChain unless RH does it himself.
Well that sounds like a hell of a lot of trust in one man then
Posted on 7/10/22 at 6:22 pm to Hulkklogan
quote:
Well that sounds like a hell of a lot of trust in one man then
Agreed. Fortunately his track record is impeccable for a long time.
Retired with hundreds of millions of dollars at 25. Written multiple self help books which he gives to people for free. Donated a ton of money to charity. Mined 50 BTC blocks for free over 10 years ago. Top 20 crypto founder. I think Vitalik is the only dude in crypto on RH's level of trustworthiness. There are other good founders, but I personally think 2 are a notch above the rest.
This post was edited on 7/10/22 at 6:23 pm
Posted on 7/10/22 at 6:32 pm to Hulkklogan
quote:I'm in the Pulse Dev chat. Anytime we have a validator in rotation that seems to be causing issues, we work together to delegate to better ones. Problem solved. This is testnet. Would be 100x easier once mainnet is out to keep the network secure.
Hulkklogan
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