Backers of Richard Heart and his Ethereum clone Pulsechain spent years eagerly anticipating its launch. Their patience has been rewarded with massive disappointment, davidzmorris writes. Opinion.
and PLSX have sold off aggressively since launch, dropping on the order of 30% or more in the days since PulseChain launched.
Some version of this comical catastrophe was easily predictable. PulseChain, you see, isn’t just a fork of the Ethereum code, but was pitched as a copy of the Ethereum state. That is, it includes all wallet balances and assets as they existed on Ethereum, apparently. Numerous critics over the years have pointed out that this ignores the vast number of dependencies behind these Ethereum assets, which would break in a dazzling variety of ways if cloned.
PulseChain’s most devoted critic is blockchain researcher Eric Wall, who recently referred to PulseChain as part ofWhile it’s difficult to be specific about what makes something Bizarro Crypto, it’s a hugely useful label. On the one hand, you have the likes of Ethereum and Bitcoin and Uniswap and Filecoin, things that more or less work as intended. Then you have projects that look a lot like the real thing, but are inverted or compromised in crucial ways – the same way
represents the inverse shadow-self of Superman. The differences that mark out Bizarro Crypto can be far more subtle and arcane, though, sometimes only visible to those of us who have, as the saying goes, seen too much.
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