Use this guide as a checkmark to find out if Pulsechain is a legit crypto project. Explore the features, market data, and community here.
Pulsechain is a layer-1 blockchain created by Richard Heart, the founder of HEX. It aims to improve Ethereum’s value proposition by providing users with a free copy of their tokens and NFTs on the Pulse network. Pulsechain also claims to be more environmentally friendly than Ethereum, although Ethereum has already switched to a proof-of-stake consensus mechanism.
In this article, we delve into the legitimacy of Pulsechain, exploring its features, market data, and community-driven strategies.
What is Pulsechain(PLS)?
Pulsechain aims to enhance the value proposition of Ethereum. As a layer-1 blockchain, Pulsechain operates independently and seeks to improve upon the functionalities of Ethereum. It conducted an initial coin offering (ICO) known as a “sacrifice” to raise funds, allowing participants to donate various cryptocurrencies or fiat currency and receive PLS tokens in return. These tokens can be used to activate validators, pay for transactions, and bridge to other chains.
Pulsechain replicates the Ethereum system state through a snapshot, making certain modifications, and introduces its own native token called PLS. It boasts a faster block time of 10 seconds, compared to Ethereum’s 12 seconds. Pulsechain also launched PulseX, its decentralized exchange similar to Uniswap, enabling users to swap ERC-20 tokens and NFTs on the Pulse network. PulseX implements a fee-burning mechanism, reducing the supply of PLS over time.
At present, Pulsechain is live on the main-net. Users can access Pulsechain by adjusting their MetaMask settings to connect to the Pulse RPC endpoint. Additionally, the PulseScan block explorer allows users to view their balances and track transactions on the Pulse network.
Overall: Is Pulsechain Legit?
If you are interested in this new crypto token, it is also very important to do your own research(DYOR) before investing in it.
The total crypto market covers thousands of coins and every day a new crypto token seems to show up. Also, many of these new projects are scams where founders introduce new tokens and run with investors’ money afterward (rug pull).
To help you out in finding legit crypto tokens, I developed a 4-steps guide that can help you by examining starting crypto coins. In short, it will perform the following steps:
- Coinmarketcap – Check market listings, community posts, and social media channels
- Telegram / Twitter – The number of followers and user engagement
- DexTools – Check ETH contract address and DEXTscore
- Richard Heart – Some background info on the founder of HEX
All data will be collected, calculated, and analyzed including screenshots. Finally, I’ll try to give this a score at a rating between 1 and 5. You can use this score as a foundation for making reliable investment decisions according to Pulsechain.
Remember, that this check was performed at the time of writing and things may have changed in the future when you are reading this. Therefore, I recommend you perform the steps explained in this guide as well. Let’s go 👍.
Is Pulsechain a Scam?
As explained earlier, I’m going to perform some steps to find the answer if this brand new crypto token is legit. The simple steps to follow are:
Step 1: CoinmarketCap
The very first thing to check if a new project is legit is to go to the famous website Coinmarketcap.com.
In short, CoinMarketCap.com is a renowned cryptocurrency website that provides real-time data and information on thousands of digital assets. In addition, it includes their market capitalization, prices, trading volumes, and rankings.
With millions of monthly visitors, CoinMarketCap tracks a vast number of crypto projects and is owned by Binance.com, one of the largest cryptocurrency exchanges in the world.
Below are the steps for Pulsechain on Coinmarketcap:
- Login or create a new account at Coinmarketcap.com
- Confirm e-mail and make sure to log in at Coinmarketcap
- Go to the Pulsechain page of Coinmarketcap
- Check if the Community is very active by choosing Latest Posts
- Check current rank, website(url), watchlists, and block explorer
- Finally, check the listed exchanges under Markets tab
After performing the steps mentioned above, I come to the following conclusion about Pulsechain(PLS):
|✅ Recent posts in Community section|
|📣 Reddit account (23.4K members)|
|📣 Twitter account (121K+ followers)|
|✔️ Working website url|
|✅ Blockchain explorer|
|✅ Recent posts in the Community section|
Overall score: 5
Step 2: Telegram and Twitter
The next step will be to check their most active social media channels like Telegram and Twitter. To do this just follow the links on their profile page on Coinmartketcap.
First below is a screenshot of their latest Tweet and the level of engagement from the following:
Consequently, I found a link to their Telegram channel. Just click the link to join and see what we will find here:
Also, I want to know what the community is doing or talking about. Therefore, I’ll join the channel and there is no verification check. Also, I only see messages from Richard Heart here.
A good idea is to check in the search bar for the phrase scam. When I do this a short history of this chat shows up, where mostly bot accounts seem to appear.
Below is the score for the findings on social media channels:
|📣 Twitter following||121K(+)|
|📣 Telegram members||19.8K members|
|❌Recent messages containing scam||Yes|
Overall score: 3
Step 3: DexTools
To find out if Pulsechain is legit you can also visit and use some DeFi tools like DexTools.io.
In short, DexTools.io is a popular DeFi website that offers a range of tools and analytics for decentralized exchanges (DEXs). It provides users with valuable insights, such as real-time trading data, charts, and liquidity analysis, to assist in making informed trading decisions within the decentralized finance ecosystem.
Below are the steps for Pulsechain on DexTools:
- Visit the URL DexTools.io
- Above in the search bar paste the following contract address: 0x1b45b9148791d3a104184cd5dfe5ce57193a3ee9
- Click on the first search result
- The PLSX/WPLS trading pair shows up
- Check liquidity, volumes, and pools on the left
- Also, below check the DEXTscore of this project
- Finally, check if there are recent orders in the trade history
Below is the score for the findings on DexTools:
|24 Volume||$8.4 million|
|Pooled WPLS||419 billion|
|Pooled PLSX||1105 billion|
|Total market cap||$5.4 billion|
Overall score: 5
Pay attention: Interested in buying this crypto project? Follow this guide to buy Pulsechain by using MetaMask wallet.
Step 4: Is Richard Heart a Scammer?
Richard Heart, formerly known as Richard James Schueler, has been involved in questionable activities. Throughout his past, raising doubts about his credibility as a cryptocurrency entrepreneur.
Below is a short summary of the acquisitions that are circulating on several social media platforms.
HEX cryptocurrency project
Richard Heart founded the cryptocurrency project HEX, which raised suspicions of being a scam. The project operated as a certificate of deposit on the blockchain. However, its mechanics seemed focused on soliciting Ethereum from new investors and providing them with HEX tokens in return. There were concerns about the diversion of user tokens and control over certain wallets associated with the project.
Involvement in spamming activities
In the early 2000s Heart gained notoriety as the “Spam King” for sending unsolicited commercial messages with deceptive subject lines and forged email addresses. He was found to have violated anti-spam laws, resulting in a civil judgment against him.
Questionable Activities in Panama
After his involvement in spamming, Richard Heart moved his operations to Panama. While there, he allegedly claimed to have been a victim of an elaborate shakedown by local officials. However, there are claims that he himself admitted to creating a way to facilitate corruption and bribery in Panama.
The delayed launch of Pulsechain
Richard Heart is closely related to the Pulsechain crypto project by promoting it to his large following on social media. However, the launch of PulseChain has been repeatedly delayed, leaving users frustrated, particularly those who have their HEX tokens locked up for an extended period.
All in all, to have Richard Heart associated with this project is a potential red flag. Even though this guy has a large following on social media, it is good to know his past.
Overall score: 1
Conclusion: Is Pulsechain Legit?
To measure if the Pulsechain crypto project is trustworthy you can use this 4-step guide to give you some clarity. According to the steps performed above we can conclude that it is neutral/likely that Pulsechain is a scam.
In short, the following steps and checks were taken into consideration:
- Coinmarketcap page of Pulsechain
- Social media channels(Twitter & Telegram)
- Richard Heart(Questionable history and potential red flag)
All in all, the total trustworthy score for Pulsechain(PLS) is 3.5.
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