Hello friends, if you're following my articles then we've gone through lots of basic as well as moderate level of blockchain technology and projects including Non-Fungible Tokens (NFTs) âïļ smart contracts âïļ Proof Of Stake (PoS) âïļ and many more. In this article we'll be looking at a blockchain called Lisk (LSK). At the end of this article you'll get an idea about Lisk blockchain and why it's revolutionising the technology.
So let's dive in....!!
What Is Lisk ?
Lisk is a blockchain platform which allows developers to create, edit (customise) and distribute their dApps. You'll find several platforms that allows to do the same but the difference and the plus point of Lisk blockchain is that it's primary coding language is JavaScript, which is one of the most famous and general coding language that most of the developers prefer. Due to this mainstream coding language the Lisk blockchain is intended to attract the developer community to build their own dApps.
Along with the use of JS for developing another good thing about Lisk is the use of sidechains*. You can understand sidechains with an example of tree, think mainchain as trunk of tree and sidechains are the branches, they all are connected but do not affect the trunks. In similar way, sidechains development keeps bugs away from mainchain, due to this they don't slow down the mainchain.
Who Invented Lisk ?
The Lisk was founded in 2016 by Max Kordek and Oliver Beddows. Previously both were working on an open source project called Crypti, it was similar to the Lisk but they realized that there were many constraints with the platform to achieve the kind of scale they wanted, that's why they stopped that project and brought Lisk into market.
Timeline
January 2016 : Lisk was founded as a fork from previous project, Crypti
March 2016 : Almost 14,000 BTC were raised in ICO
February 2018 : Relaunched branding
August 2018 : Mainnet launched
What's so special about Lisk ?
So basically Lisk has several special things but the main things are the primary development language and accessibility.
Language
As I already mentioned Lisk uses JavaScript for the development dApps, it is one of the mainstream coding language that almost every developer understands. On the other hand Bitcoin uses C++ and Ethereum has it's own development language called Solidity. So for the developer who wants to develop his/her own dApp on any of the blockchain, he/she has to go through their development languages, which is one of the biggest barrier which demotivates developers, with the use of JavaScript Lisk is calling the developer army to build dApps on Lisk blockchain. Due to this there'll be mass adoption of the blockchain by developer community.
Accessibility
Lisk blockchain is considered as one of the easiest and developer friendly platform. Due its use of sidechain and 'Sidechain Development Kit' which provides ball the tools to developer needed for building dApps. Developers will also create their own tokens on the main blockchain without writing a single line of code.
LSK Token
LSK is a native token and a fuel of the Lisk blockchain network. LSK Token is used as a reward for the validators who validate blocks of the blockchain. It is also a payment for inside networks like some developers want to register the dApp they created.
If you're a developer then you can use LSK for transaction purposes and if you're not and a trader then you can trade LSK on various exchanges with many pairs.
Future
The goal of the Lisk project is to host thousands of dApps on thei blockchain and create a mass adoption of blockchain technology. Still Lisk is in it's early stages, they are planning to launch 'Sidechain Development Kit' which will simplifies the the work of developers and dApps can be developed easily. Lisk has lots of competitors which are far more bigger in power as well as in number of developers but the use of JavaScript in Lisk blockchain will act as blessings for the project, the future will tell us.
Special Mention
Currently Read Cash is fighting against spammers and it's our duty to act against it and keep RC spam free.
@thesatoshistore has conducted a campaign for "Permanent ban after 100 reports" if you want to join the movement, you can sign this petition : http://chng.it/v4QhH9WNpj
Okay guys, this is it from my side, hope you enjoyed and found this article informative. Don't forget to share your feedback.
If you want to discuss things about crypto or blockchain you can contact me on twitter handle.
I have don't idea