Pulsechain (PLS) is a blockchain project founded by Richard Heart, who also founded HEX. It's a fork of Ethereum, built for higher transaction speeds and lower fees. PLS is the native token, adhering to the PRC-20 token standard, a derivative of Ethereum's ERC-20 standard. The PLS token is primarily used for transaction fees and can be delegated by its holders to validators to participate in network security. Features of Pulsechain include a fee-burning feature and a mechanism for PLSX, which uses a portion of trading fees to buy and subsequently burn PLSX, reducing its supply over time. The network also reduces the issuance of PLS by 25% per block relative to Ethereum and replaces proof-of-work miners with proof-of-stake validators to promote environmental sustainability. Pulsechain offers a bridging feature to facilitate exchange of assets between the Pulse and Ethereum networks. Assets are locked on one network and issued a counterpart on the other network at a 1:1 ratio.
