The Great Divide in the Bitcoin community
In late 2016 a great divide appeared in the Bitcoin community. It was a philosophical and technology division about the future use case of Bitcoin and how Bitcoin will achieve mainstream adoption. The Bitcoin core camp saw Bitcoin as a “store of value” and as the future “Gold” of the internet. They strongly pushed for no technology changes to be made in the protocol to make it faster or cheaper for transactions. The other camp “Bitcoin Cash” proposed that Bitcoin was meant to be a peer-to-peer cryptocurrency as defined by Satoshi Nakamoto himself and that it should be used for daily transactions. In August of 2017 the Bitcoin Cash camp proceeded with a hard fork. The divide in the Bitcoin community was complete and Bitcoin Cash’s price skyrocketed to $4,091, on the way to overtake Bitcoin with a strong community behind. The race had begun with who would succeed first.
5 years later, in Jan 2021 the “winner” was Bitcoin core with a market capitalization of over a trillion dollars and Bitcoin Cash (BCH) with a market cap of just above $10 billion. Bitcoin (BTC) succeeded to become the “store of value” while Bitcoin Cash failed to get mainstream adoption.
Why did Bitcoin Cash not achieve mainstream adoption as promised? Why couldn't both work out?
Even though the Bitcoin Cash community was very strong and very innovative in finding solutions for mass adoption, such as sending BCH with QR codes between wallets, using micro tipping, cheap and fast transactions etc. mainstream adoption has not been achieved in the 5 years since its launch.
Why?
1. Lack of Blitzscaling capabilities
Every new user of BCH needs to study or learn about Bitcoin which is a barrier to mass adoption. When Facebook used blitzscaling, nobody needed to know about Facebook as a platform. Receiving a friend request from a person or family member to be “friends'' was enough to join the network and create an account and it was the same for Paypal and Linkedin. Paypals real success came when they introduced email to send funds between users. Read more about Blitzscaling of LOVE.
2. Centralized Exchanges
The second main reason that prevented BCH to gain mass adoption is centralized exchanges. Centralized exchanges are good for trading and speculation, and providing fiat on and off ramps but it also brings high volatility. It was Satoshi’s main vision to create a peer to peer cryptocurrency with no custodial risk and complete control of the user that could be used for daily transactions.
Having funds on centralized exchanges means the user does not have full control or actual ownership hence the “saying not your keys not your crypto” and so this has prevented mainstream adoption. The “value” of cryptocurrencies has also been artificially manipulated by trading and does not reflect the actual network value according to Metcalfe's Law. Centralized exchanges have a great purpose in the crypto community providing regulatory fiat On/Off ramps but trading and high volatility prevents mass adoption
2018 Major Technology breakthrough for LOVE
Uniswap
On November 2, 2018, Uniswap was publicly announced and deployed to the Ethereum mainnet.An automated market maker (AMM) is a decentralized coded exchange that operates through automated trading between crypto pairs directly between users without a centralized middleman. This major breakthrough with Uniswap meant taking away the main technology barrier for mainstream adoption for LOVE in custodial risks, high volatility and manipulative trading provided by centralized exchanges.
2020-2021 Still Searching
After the launch of Uniswap and other AMMs such as Pancakeswap, the time was still not right to launch LOVE. Even with the Casper upgrade Ethereum consensus algorithms in proof work (PoW) prevented fast and cheap transactions as gas fees continued to increase. 2 of the 3 problems had been solved but there was still one main problem. The same problems that BTC experienced back in 2016 with high transaction costs and slow speed transactions.
LOVE finds Pulse!!!
PulseChain
Ready and Proven Technology
As PulseChain is a complete hard-fork of Ethereum, PulseChain comes with already many years of code development, stress and bug test and proven technology, not matched by any other blockchain and with the largest solidity devs community. All major applications such as Uniswap will be implemented to PulseChain. Uniswap will be launched as “PulseX”. PulseChain will be the first blockchain-based cryptocurrency ecosystem that is an Ethereum hard-fork with a snapshot of the entire Ethereum blockchain converted into a Proof-of-Stake blockchain.
PulseChain will become a delegated Proof-of-Stake blockchain, running with a set of validators and thus users will avoid high gas fees when making transactions which is a key element for mass adoption.
Faster and Cheaper
PulseChain increases the throughput of Ethereum 4x by using 3 second block times. Ethereum's average block time is around 13 seconds. Low Network Fees = Greater Retail Adoption.
Less Pollution
By replacing proof of work miners with proof of stake validators PulseChain doesn't burn "waste" any energy making it environmentally friendly.
Improve Game Theory
PulseChain has 0% inflation. Validators only earn fees and 25% of the fees are burnt to reduce the circulating supply. Greater adoption of LOVE will increase the value of Pulse.
Empower PulseChain Holders
PulseChain's native token $PLS can be staked and delegated to validators that reward the delegators with the largest percentage of fees.
Plus your MetaMask wallet just works, you only have to change a single setting to access your LOVE tokens on PulseChain.
The Right Name, on the Right Chain, at the Right Time!
The development of PulseChain was the final part of the puzzle for LOVE to be able to launch with the sole aim of crypto mass adoption. From micro tipping, rewards, donations, online shopping, cash back, loyalty and gifts - the goal of Love is to bring wide adoption and usability to the mass market.
Contact
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