HEX PulseChain Launch Off to Rocky Begin as Fuel Charges Spike and Token Worth Sinks

The HEX PulseChain has launched to mainnet however not with no few hiccups. Complaints about community charges and a tanking HEX token value are amongst them.

On Could 14, the HEX PulseChain went reside as a tough fork of Ethereum. The undertaking is a part of controversial crypto proponent Richard Coronary heart’s HEX ecosystem.

PulseChain Charges Surge

PulseChain has been touted as one other “Ethereum killer” for its excessive throughput and low charge system. Nevertheless, little of that was evident on launch day as the issues piled up.

On Could 14, Eric Wall tweeted screenshots of among the points customers had been dealing with with PulseChain.

“PulseChain raised $1 billion {dollars} to ‘cut back Ethereum charges’ by copying Ethereum with out the Layer 2s,” he said.

Community fuel charges skyrocketed resulting from demand on launch day. The FreePulse account tweeted, “withdrawals are too costly to run the tap correctly.”

“Persons are posting screenshots the place charges are ~$100 when you value PLS in what individuals paid for them within the ICO,” commented Wall.

He defined that Ethereum’s subsequent improve, EIP-4844, will present super scaling advantages for Ethereum layer 2 networks, including:

“PulseChain will copy these upgrades to remain updated, however since PulseChain doesn’t use Layer 2s, there might be no scalability improve. Simply extra complicated code.”

Richard Coronary heart said fuel charges had been working as supposed, “If another person desires to pay greater than you to get right into a block, they get in and you don’t.”

There have been additionally points connecting PulseChain to HEX, with some customers reporting errors. Coronary heart merely prompt uninstalling and reinstalling MetaMask or utilizing a distinct browser.

Customers had been additionally posting their error messages and issues on Reddit.

PulseChain was forked from Ethereum in an effort to alleviate excessive transaction charges. Nevertheless, if the primary day is something to go by, it has failed miserably at that activity.

Moreover, PulseChain replaces ERC-20 token requirements with PRC-20 and its personal native token PLS. The launch and PLS airdrop has been closely promoted on Twitter lately, resulting in a surge in curiosity.

Coronary heart’s HEX undertaking has typically been labeled as a Ponzi scheme, and token costs have tanked 94% from their all-time excessive.

HEX Worth Takes a Dive

HEX costs have tanked a whopping 60% over the previous 5 days. On Could 11, the token was buying and selling at $0.08, however immediately it has fallen to $0.03.  

In September 2021, HEX reached a peak value of $0.51 however has not been anyplace close to that stage since. PLS has but to be listed on any of the analytics platforms.