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What Is Lisk ?
Lisk is an open source network with its decentralized blockchain that enables developers to use its’ platform for developing both back-end and front-end of their applications. Lisk has an application known as Lisk App SDK that functions exactly like a smart contract of Ethereum, and this enables developers to develop custom side chains. This Lisk App SDK allows for developers to build a downloadable Applications.
The backend of the App developed with Lisk App SDK is hidden, but the front-end is accessible in a decentralized blockchain. This functionality is such a unique cryptocurrency technology, and it has made Lisk architecture to rated high. Lisk is regarded as the first modular cryptocurrency because of its sidechain features that allow any Application to be developed its’ platform. Lisk cannot be used by merchants to aid buying and selling, instead of an application building architecture.
The CEO is Mr.Max Kordek and co-founded by Mr. Olivier Beddows. We also have few individuals mostly developers that joined them from Ethereum network.
- Lisk App SDK is used to develop side chain applications.
- It is used to purchase other currencies.
- Lisk is used for transactions within the larger Lisk ecosystem.
- Microsoft’ Azure uses Lisk’ s blockchain to develop cloud computing platforms.
Lisk uses a PoS algorithm. We know in the PoW algorithm, users’ computers are expected to mine for coins by solving computational problems in return for token rewards. The computers on a proof-of-stake algorithm, called “delegates” earn rewards for “minting” (also known as “forging”) new coins. The Lisk platform is highly secured through this process.
In Proof-of-Stake, the minter of the next block in the chain is picked randomly, which means that any computer that is “minting” will receive its’ rewards randomly. This prevents “centralized” mining, a peculiar issue with Proof-of-Work networks. On the PoW networks, the majority of the mining rewards go to the miners that have the most hashing power.
NOTES FOR INVESTORS
In the first ICO raised this year, Lisk network made a total of $5.7million from the ICO and also rated as being the fourth largest in the history of cryptocurrency crowd safe. A total of 100,000,000 LSK were created and distributed to investors, partners and the Lisk team. Quite amazing!!
As of the time of writing this report, the price of LSK-BTC is 0.00039 and based on the analysis of cryptocurrency market experts, a price that is low as this can only experience upward movement.
Many analysts have said that LSK is a good investment prospect but will be determined by the success of it its network and what they can offer to the members of the public. The key driver of Lisk will be its’ technological services and investors interest.
I do tell people that, a token that is as low as LSK should be tried.
This little report about Lisk should not be seen as an endorsement to invest. Cryptocurrency investment is speculative, and it involves unquantifiable risks – the market is full of uncertainty, susceptible to attack and capital loss, and sensitive to secondary issues, time may do not permit to mention here.
Seek advice before investing.