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Coin Reviews

What is Lisk (LSK)? | A Quick Explainer

By January 30, 2018 February 27th, 2018 No Comments

What is Lisk?

Lisk is a decentralised blockchain platform, allowing developers to build applications the Lisk network in the Javascript programming language. Lisk has been in development since its release in May 2016.

Features

  • Each application will run on its own ‘side chain’, meaning it will have its own blockchain that is referenced to the main Lisk chain. This allows developers to create their own cryptocurrencies.
  • Rather can create its own programming language, Lisk design to develop an SDK (software development kit) using Javascript, opening up Lisk development to approximately 500,000 Java developers around the world.
  • Lisk is aiming to be an ecosystem, analogous to Ethereum, where the platforms value grows over time as more applications are built on it.
  • Lisk uses a consensus algorithm called ‘Delegated Proof of Stake’, which allows holders of the cryptocurrency token to have a voting right for mainchain delegates.
  • This proof of stake system financially incentives people to becomes ‘active delegates’, where delegates are rewarded in tokens for verifying blocks.
  • Lisk runs on a public blockchain, similar to Bitcoin and Ethereum, where transaction can be viewed live on the Lisk explorer
  • Lisk has ‘country ambassadors’ which help to promote Lisk around the world in a variety of different languages

The Token

  • The Lisk token (LSK ticker) currently has a circulating supply of 115.6M token with a token inflation rate of approximately 4 LSK tokens per year.
  • The value proposition for token value increase is;
    • Applications are built on the Lisk platform, requiring the Lisk token for entry and fees
    • Lisk allows front end and back end development through the Lisk SDK, a unique feature in blockchain ecosystems
    • Lisk allows sidechains, and thus unique cryptocurrencies to be made off the main chain
    • Lisk is programmable in Javascript, a widely used programming language used by Google and others
  • The Lisk team is currently at 28 members, with a good balance of Developers, Engineers, Strategists and Marketers

Summary

Lisk is a platform ecosystem analogous to Ethereum, EOS, Cardano and NEO. Its early development and thorough implementation, combined with the use of Javascript and side chain capability, puts Lisk is a strong position.

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