What is Lisk?

By nervi | Crypto Journalism | 21 Aug 2019

Lisk (LSK) is a decentralized cryptocurrency based on blockchain technology, on which decentralized applications, so-called dApps, can be built. It can also be used to build new digital tokens.

Applications created on it can be programmed using popular programming languages, such as JavaScript. Blockchain Lisk also has its own cryptocurrency with the same name.Β The Lisk provides high scalability thanks to the use of sidechains. This application allows new tokens to operate outside the blockchain. This ensures high performance of blockchain.

Lisk was created on the basis of the source code of the undeveloped Crypti project.Β Development funds were raised during the sale of LSK tokens during the ICO in early 2016. More than 14,000 BTC and 80 million XCR have been raised. This raised $6,350,000. The Lisk network was launched on May 24, 2016.Β A so-called relaunch took place at the end of February 2018. During this time the visual platform was refreshed (new logo, new website) and created Lisk Academy, which aims at free education on blockchain technology and cryptocurrency.

Lisk, unlike BitCoin, has no limited supply. This means that new tokens are created anew and more than 119 million tokens are in circulation.

There is also something like Lisk SKD, or Lisk Sidechain Development Kit. It is a set of tools and special modules for developers programming decentralized applications on the Lisk platform. It includes, for example:

  • Lisk Core: The main element of the network. Defines the rules of operation of individual nodes. It is perceived as a set of rules on which the Lisk protocol is based. It is on this program that decentralized applications and side chains are built.
  • Lisk Commander: Programming interface for developers
  • Lisk Elements: JavaScript library and programming tools. It also includes the Lisk API
  • Lisk Hub: This is a desktop application with a graphical interface that also serves as a wallet for LSK. Thanks to it we can vote for delegates of the network.

The most popular wallets for this cryptocurrency are (previously mentioned) Lisk Hub and Lisk Nano. Paper wallet can be generated on the website

The current LSK price is available on the chart below:

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