Lisk (LSK) is a blockchain platform with the function of providing decentralized blockchain applications. Essentially, the Lisk blockchain is quite similar to the Ethereum blockchain; however, Ethereum uses smart contracts, while Lisk develops the Lisk SDK.
Lisk has a decentralized network, implementing the dPoS algorithm, which is very beneficial to the owner, when instead of having to mine, just hold the coin to receive the reward coin.
Organizations can use the Lisk SDK to develop blockchain through sidechains (a custom and standalone blockchain). To be able to develop games, use finance, online stores…in a simple, flexible and convenient way.
Lisk is currently developing a combination of both blockchain models: single blockchain and private blockchain to bring the highest security and stability to its platform. It is also the only platform with dApps (partial licensing applications), which allow companies, organizations and individuals to use LSK sidechains to create flexible or heavy-duty applications.
Investing in 2016, co-founders Max Kordex and Oliver Beddows officially announced Lisk to the world, based in Switzerland. In addition, at that time, Lisk had about 23 members of the development team, they were all experts in marketing, blockchain, business, programming, etc. with many years of experience, some of which were in the past. for large corporations.
Oliver Beddows: Founder and current CEO of Lisk Coin.
Max Kordex: Lisk co-founder.
Guido Schmitz-Krummacher: Financial advisor, legal advisor for the project.
In addition, LSK is mentored by leading experts in the blockchain field, including Charles Hoskinson (former CEO of Ethereum).
Features of the LSK . platform
A decentralized network
LSK is a decentralized network like BTC, BTS or NXT. It does not use a PoW algorithm like BTC or a PoS algorithm like NXT. Lisk opted for a more minimalist approach to implementing BTS’ original algorithms, also known as dPoS.
Sidechain is a custom blockchain that does not affect the owner or other sidechains. All details, specifications and transaction types are subject to change to fit your blockchain application perfectly.
To prevent spam in the blockchain, there are always tokens of value that require storing data in the blockchain, such as all transaction costs. In the Lisk sidechain, you can use LSK tokens from the mainchain or all tokens from new customers.
You will have a separate limit in case you want to use tokens from the mainchain LSK inside your sidechain. You cannot easily transfer tokens between different blockchains.
Advantages and disadvantages
- Using an advanced sidechain platform: Sidechain is a Lisk sub-platform that runs on the blockchain. Sidechain also helps to work continuously, without lag even when the blockchain is overloaded.
- Suitable for application development: Lisk allows users to easily optimize application development, as well as application completion.
- Few people know: because it has only been in operation for 2 years, LSK coin is still not really popular.
- Only IT savvy people can use it: the blockchain technology platform is still quite new in the world. So the use is not easy.
While ETH stores smart contracts in a single blockchain, the use of LSK sidechains makes it much more scalable than its competitors. Furthermore, LSK seeks to remove barriers to accelerating application development; make LSK more user-friendly than ETH.
You can see the LSK price here.
According to AZCoin News
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