- A wallet address spent 29.82 ETH for 3.04% gas usage in the last 3 hours, as per the image Richard Heart shared.
- Simp DAO founder Eric Wall shared screenshots on Twitter, revealing issues faced by PulseChain users.
Prominent crypto figure and HEX founder Richard Heart tweeted that users can escape the burdensome Ethereum gas fees via the PulseChain contract as a promising alternative. However, users have already labeled the platform “Ethereum Killer” during its launch on May 14.
According to the image shared by Heart, a wallet address spent 29.82 ETH, valued at $53,829 in ETH free for 3.04% gas used in the last 3 hours. Meanwhile, fees for 0.38% gas consumed in the last 24 hours stood at 29.86 ETH or $53,901.
On the other hand, during its launch, PulseChain was often heralded as an “Ethereum killer” due to its high throughput and low fee system. However, the anticipated benefits were not readily apparent on the initial day of its release, as a multitude of problems began to surface.
On May 14, Simp DAO founder Eric Wall took to Twitter, sharing screenshots that highlighted the various issues encountered by PulseChain users. In his tweet, he pointed out that despite raising a staggering $1 billion with the aim of “reducing Ethereum fees” through replicating Ethereum without the implementation of Layer 2 solutions, the desired outcomes were not yet evident.
Moreover, on the day of its launch, the demand for PulseChain led to a significant surge in network gas fees. The FreePulse account acknowledged this issue through a tweet stating that withdrawals were too expensive to effectively operate the faucet.
Wall, in response to this situation, commented on the escalating fees, mentioning that some users were sharing screenshots where fees amounted to approximately $100 when considering the price of PLS tokens during the ICO.
Moreover, Wall highlighted that Ethereum’s forthcoming upgrade, EIP-4844, would deliver significant scaling benefits to layer 2 networks. Furthermore, he noted: “PulseChain will copy these upgrades to stay up to date, but since PulseChain doesn’t use Layer 2s, there will be no scalability upgrade. Just more complex code.”
Heart asserted that gas fees were operating according to their intended purpose. He explained that if someone is willing to pay a higher fee to enter a block, they will be prioritized over those offering lower fees.