Lisk

What is Lisk?

Lisk Token, or LSK, is a utility token built into the Lisk ecosystem. The main function of LSK is cover transaction fees on the Lisk network. It also provides voting right token holders.

Lisk recommends that LSK holders store their tokens in Exodus digital wallet.

Since LSK is a cryptocurrency, its price tends to fluctuate. To make an informed buying decision, you can take a closer look at Lisk’s price history or the current price of LSK in the chart above.

What are the main features of Lisk?

Lisk is a well-established ecosystem of blockchain-based products, services and decentralized applications powered by the Lisk SDK. The latter represents software development kit based JavaScript. Lisk’s decision to keep this kit available to JavaScript developers is a deliberate one.

JavaScript is the most popular programming language, which means that most developers will be able to create applications using the Lisk SDK. Simply put, this feature lowers the barrier to entry for developers who want to get started with blockchain.

When using Lisk SDK developers create their dApps initially on their blockchain. This eliminates dependence on smart contracts.

Lisk SDK has 4 main features: Lisk Commander, Lisk Core, Lisk Elements and Lisk Hub.

As for the Lisk blockchain, it is protected by Delegated Proof of Stake (DPoS) a consensus algorithm in which 101 delegates are responsible for creating and validating new blocks. DPoS is more environmentally friendly than other consensus mechanisms such as Proof-of-Work (PoW) because it does not require a lot of computing power. Moreover, the blockchain comes with built-in Byzantine fault tolerance (BFT) consensus mechanism.

Since the launch of the Lisk mainnet, the Lisk team has made sure to conduct external security reviews. All audits are available for public review.

As discussed in What is Lisk LSK is the native token that powers the project. His the only cryptocurrency available on the platform.

The Lisk network has over 250,000 unique users and has processed approximately 3,000,000 transactions.

Lisk has been used in various projects including Enevti – an NFT-based social media platform, Colecti – an NFT marketplace, Topas City – an immersive virtual reality experience, and many more.

All projects mentioned above have received support from Lisk via Grant program – type of financing for projects that want to build using the Lisk SDK.

One of the main goals of this project is to bring the benefits of blockchain to the masses through the Lisk ecosystem. They aim to do this by providing an accessible blockchain ecosystem of products, as well as a set of tools for creating decentralized projects.

Lisk emphasizes the importance of a strong community, which is why it provides a discord server through which users can chat, discuss and share their ideas.

Be sure to check the LSK price in the chart above before making any purchasing decisions.

Who developed Lisk?

The Lisk cryptocurrency project was launched in January 2016. This is a Swiss company co-founded by Max Kordek and Oliver Beddows who hold the positions of General Director and Technical Director, respectively.

When the idea for Lisk was born, Max Kordek wasted no time getting the project off the ground. He dropped out of school and co-founded Lisk with Oliver Beddows, who has been working in the crypto space since 2014.

During Lisk ICO In 2016, Max and Oliver managed to collect more than 14,000 BTC for the project.

Apart from Lisk, the duo also co-founded another blockchain-based company – light curve, who is actively involved in the Lisk crypto project. It develops products exclusively for the Lisk ecosystem.

Non-profit organization, Lisk Foundation, is responsible for project management. They resolve issues related to finance and law, while complying with the requirements of the supervisory authority of the Swiss Federal Foundation (ESA, Eidgenössische Stiftungsaufsicht).

The Lisk team consists of less than 50 people from different professional backgrounds.

Since the launch of the Lisk crypto project in 2016, it has had an advantage over many other blockchains and crypto projects. While other projects were still in the ideation stage, Lisk was already working on future developments and partnerships.

For example, in the same year that Lisk was launched, the project signed a contract with Microsoft Azure for migrate Lisk to the Azure cloud platform.