What is Lisk?
- 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.
- 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 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
- The Lisk team is currently at 28 members, with a good balance of Developers, Engineers, Strategists and Marketers
Beau is the Founder & Chief Editor at Cryptocurrency Australia Media, an educational platform designed to help anyone learn about cryptocurrency investment and blockchain technology. Beau is also the Founder & Principal Consultant of Blockchain Management Solutions, a specialist technical and project management consultancy, is an advisor with Masternode Ventures, a blockchain incubator, and is an advisor with THORChain, a new decentralized exchange protocol.