Altcoins

Here’s How Lisk Will Simplify the Blockchain of Bitcoin and Ethereum

Lisk: the company created to simplify

Lisk (LSK) was born in 2014 under the name Crypti, an open source blockchain app platform created by Max Kordek and Oliver Beddows. Although successful at the community level, Crypti needed more money to reach the founder’s visions, which is why they gave birth to the classic fork by creating Lisk in May 2016.

How does Lisk work?

One of the biggest struggles in the industry is to get developers to accelerate the construction of blockchains and make sense of the whole system. Being the core of Bitcoin written mainly in C ++ and Ethereum in Solidity (programming languages), there is a lot of confusion for developers on what language to use.

The founders of Lisk Max Kordek and Oliver Beddows, have experienced these struggles and therefore created this company to make Blockchain technology as accessible as possible.

For example, Ethereum uses Solidity that requires developers to learn a new language, because it focuses on smart contracts. In these cases Lisk, who uses a sidechain and a complete software development kit (SDK) to help developers in the production of dApp (decentralized apps), comes to the rescue.

The sidechain

The sidechains are cryptographically independent registers (blockchain), which connect to the mainchain without damaging its performance and speed. This introduces interoperability features such as transferring and synchronizing tokens between chains.

Ultimately, sidechains allow developers to achieve the highest level of customization for consensus algorithms, network scalability, resource tracking, and even beta versions of cryptos (such as Testnet) and resource tracking (such as actions).

Invest in Lisk

To make blockchain technology more accessible, the team has created a JavaScript-based software developer (SDK) kit that focuses on user experience (UI) and developer support.

The SDK consists of 4 key parts:

consent algorithm: in the case of Proof of Stake (DPoS) delegated by Lisk, which is also the default setting
sidechain: allows you to create an autonomous blockchain connected to the main Lisk chain;
back-end: customizable code for developers to create dApps independently;
front-end: the user interface (UI) which are public components.

Combining the power of the original Lisk network and blockchain with an open-source SDK, developers have the power to create cost-effective and easy-to-download digital applications in one package. This app is accessible in a decentralized repository as an app store. LSK tokens would be used to use the Lisk network and services.

This allows developers to focus solely on the usefulness of their app and not recreate a new blockchain and all the management that goes with it.

Where to negotiate Lisk

Lisk can be found on: Coinegg and Yobit, which represent the overwhelming majority of the trade volume of this cryptocurrency, registering respectively 14% and 13% in the last 24 hours to date March 7, 2018 (if you want to stay updated on exchange volumes, click here).

Lisk’s perspectives

Since the time of Crypti, both founders have followed the project trying not to move away from their original idea. While many think that Lisk is an “Ethereum killer”, a closer look reveals that society is simply another great and promising project.

While Ethereum focuses on contracts and intelligent mechanisms in Solidity as a back-end tool, Lisk hopes to capture the hearts and minds of both developers (JavaScript) and users.

White Paper and Lisk Road Map

The Lisk company’s white paper contains many useful information. I will list one but you can find everything in detail directly by clicking here.

Blockchain and payment

In the context of e-commerce or international transfers, cryptocurrencies can be used as an alternative to credit cards or PayPal. As one of the first examples of technology in action, many blockchain payment projects already have a well-defined ecosystem and a variety of portfolios tested for secure storage. However, in the near future we can expect start-ups and fork more compatible with microtransaction.

Here’s what will happen in 2018 for the lisk company:

Q2 and Q3 2018: development of the application platform blockchain;
Q1 2018: link update;
Q1 2018: New fee and Lisk update.

Lisk conclusions

Lisk is a slow but constant company. In a world of ICO it is interesting to see consistent development, achievements and gradual improvements. Why reinvent Internet code when many developers already know it and use it? It is here that Lisk has resisted the temptation to invent something.

Only time will tell if this company will cut off an important role in the world of cryptocurrencies.

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