Meet Lisk

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A cryptocurrency based on JavaScript has its ups and downs.

Here we present another article from our series about cryptocurrencies. Today: Lisk.

This cryptocurrency with a shortcut LSK was created in 2016. Why does it stand out? First of all, Lisk is an alternative for another cryptocurrency – Ethereum. We already wrote about ETH here.

The main assumption of Lisk was to let developers create apps based on blockchain but using familiar for them language – JavaScript. To write an app in Ethereum, developers have to use pretty young and not well-known language – Solidity.

Why does Lisk stand out?

JavaScript as a programming language is the first conspicuous thing. Another one is that Lisk is using Delegated Proof of Stake what means that an algorithm is derived from a BitShares project. How does it work? In opposite to Bitcoin, where there is an endless number of miners, there are only a few miners in Lisk. The community of Lisk is choosing 101 delegates who can mine blocks of LSK. The system is almost democratic, besides the fact that an account that contains more LSK tokens – has a bigger value of a vote.

Bitcoin has 21 million coins, Litecoin 84 million and Lisk has an endless number of them. Some of the crypto maniacs can accuse that LSK is vulnerable to inflation.

As we said, there are only 101 miners-delegates who can mine Lisk. A prize for creating a block was 5 LSK at the beginning. Now, this amount is decreasing every year for 1 LSK till it will reach 1 LSK. As you can count, in 2018 delegates will get 3 LSK for 1 block.

An almost similar thing that could connect Lisk and Bitcoin is a time of creating a new block. In Bitcoin, every block occurs in an average time of 10 min (at least that was the assumption). If we are talking about Lisk, every block is created every 10… but seconds. Close enough.

What is making Lisk different is that it isn’t based on the main chain of the blockchain. Every app created in Lisk is based on sidechain of blockchain to save the main chain if the app would have a defect.

If you would want to check the source code click here.

The value

chart lisk

As you can see on Bitinfocharts, the start of Lisk wasn’t that easy. In the beginning, the exchange price of LSK was slowly decreasing until April 2017. Then we saw few upward trends that ended up with huge decrease. On September 2017, Lisk hit the 10th position in our cryptoranking. Now Lisk is having “the time of his life” with his record price of 0.00175 BTC and $25.826.

If you are interested in that cryptocurrency, we can recommend you to watch a short video about it:




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