Lisk coin (LSK) - what is Lisk crypto, mining description - Hitecher
Lisk

Lisk

by Ethan Oakes

Lisk description Lisk is a project that was created in 2016. It allows its users to create decentralized applications, monetize them, and form their own blockchain and tokens. In addition, users can carry out...

Lisk description Lisk is a project that was created in 2016. It allows its users to create decentralized applications, monetize them, and form their own blockchain and tokens. In addition, users can carry out...

Lisk description

Lisk

Lisk LSK

0.780419397684 USD 3.56%)

0,00009153 BTC

rank

55

Market cap

94.84 M USD

volume (24h)

1.93 M USD

Lisk is a project that was created in 2016. It allows its users to create decentralized applications, monetize them, and form their own blockchain and tokens. In addition, users can carry out transactions on Lisk. This project is often compared with Ethereum, although there are some differences between the platforms:

  • Ethereum calls its applications Dapps; Lisk uses the wording «blockchain applications».
  • They work in different programming languages. Lisk uses JavaScript, Ethereum uses Solidity.
  • The platforms use different consensus protocols.
  • Side chains are used to store applications in Lisk , in Ethereum the main chain is used.
  • Lisk does not have a virtual machine.

Lisk team

The startup was founded by developers Max Kordek and Oliver Beddows. Later, they were joined by Charles Hoskinson (IOHK General Director) and Steven Nerayoff, a well-known venture capitalist. Interestingly, both of these people once worked with Ethereum. Now the the staff consists of a lot of other talented professionals and is constantly growing.

Lisk token Economics

Lisk coins are obtained not through mining, but through «forging». The essence of this process is that the coins are only extracted by a group of delegates consisting of one hundred people, all other users vote for them and get one for this. The extracted coins are distributed based on the balance of users. In other words, the more coins you have on your account, the more you get.

During the ICO (launched in February of 2016) $6,500,000 was raised. The coin was added to a cryptocurrency exchange for the first time on April 6th. The price of 1 LSK at the time was $2.04.

At the moment the price of one coin is $3.24 and the market capitalization is $358,242,908. The total amount of LSK available is 125,726,616; and the amount in circulation is 110,488,076 LSK. You can buy LSK on Binance, for example.

Conclusion

Lisk is an interesting platform for developing applications based on the blockchain system which is accessible to the public. There are no obvious weak areas of the project, but the startup is clearly competing with Ethereum and, at the moment, it is unclear who will win this competition. Of course Lisk is not plagiarized and the platform is implemented in a completely different way. But the technical features are not important, but the functionality is. Developers should think about increasing the number of options for extracting coins since the availabe methods are clearly not enough.

Share this with your friends!

Ethan Oakes

Ethan Oakes

Regular Hitecher contributor since 2017, journalist, Master in Economic Security. His interests include programming, robotics, computer games, and financial markets.

All posts by Ethan Oakes

Be the first to comment