What is Lisk?
Lisk offers an easy-to-use interface and full-featured ecosystem access. Through Lisk, developers can build, publish, distribute and monetize their applications in a powered system that allows the use of custom blockchain, smart contracts, storage cloud and computer nodes.
How was Lisk founded?
In 2016, Lisk coin was the product of two developers, Max Kordek and Oliver Beddows. Max Kordek recognized his growth opportunity:
During February and March 2016, the ICO sold 100 million Lisk tokens for $5.8 million, making it the 2nd most successful cryptocurrency at the time. As of November 2017, Lisk is the 7th most successful ICO of all time.
Lisk working principle
The way Lisk (LSK) operates is relatively new and quite different from its predecessors like the Bitcoin cryptocurrency. If Bitcoin establishes a proof-of-work (PoW) algorithm, with Lisk, it designs a proxy proof-of-stake algorithm. Because of that innovation, administrators can run applications on the sidechain easily, with links to the Lisk network. This is an advantage of the Lisk cryptocurrency that other systems have to learn to develop.
As more and more industries take advantage of blockchain technology, they will need a tool to create applications. Lisk, a blockchain application platform with LSK tokens. Lisk makes blockchain application development simpler, more stable, and more flexible. Currently, blockchain technology has two models:
- Single blockchains
- Private blockchains
Instead of choosing one of the two existing models, Lisk “tries to provide the best of both worlds”: providing stability and security to the main Lisk blockchain, while allowing user freedom develop custom applications on sidechains.
This project is not the only tool for creating blockchain applications (also Ethereum and NEO), but is the only platform in which decentralized applications (Dapps) run on their own sidechains. This provides flexibility, allowing users to create heavy-duty applications, while the main blockchain remains secure.
Lisk represents a reliable, secure platform that removes barriers to creating diverse applications. Social networking games, messengers and other applications can be built completely independent of the platform. The platform's Lisk App SDK toolkit allows developers to create both back-end and front-end.
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