What is Lisk? (LSK) – A bitFlyer Academy Guide for Beginners

Lisk (LSK) is a blockchain-based, decentralised computational platform. It was founded in early May 2016, by Max Kordek and Oliver Beddows. As a fork of Crypti, a JavaScript-based platform for dApps, Lisk’s primary vision is to broaden and ease the accessibility of blockchain technology, both in development and usage. LSK is the name of the project’s utility token, used to pay for transaction fees on the Lisk blockchain.The Lisk Ecosystem: Elements & FeaturesLisk is predominantly a platform for creating and deploying Decentralised Applications or dApps—applications hosted on globally distributed computer networks, rather than on centralized servers.The platform’s users can create, publish, distribute, and monetise their dApps, as well as leverage the ecosystem’s native cryptocurrency, LSK. In other words, Lisk is a self-sustaining and integrated platform, supporting features such as smart contracts, blockchain-based storage, and so on.Interested in buying Lisk? Register now!JavaScript CompatibilitySubstantial learning curves associated with specific programming language requirements have been a major obstacle to the wide-scale adoption of blockchain-based solutions. Lisk addresses this problem by enabling dApp development in JavaScript (JS), which is especially appealing to developers with a traditional outlook.Apart from JS, Lisk also works with TypeScript, which is another commonly-used language for web development. Consequently, unlike in the case of Ethereum, developers working with Lisk don’t usually have to learn a new, platform-specific programming language.The Delegated Proof of Stake Protocol (DPoS): Resource-Optimised ConsensusDespite watertight security, the Proof-of-Work (PoW) consensus protocol, implemented by Bitcoin, among others—has severe scalability and environmental trade-offs. As a scalable and eco-friendly alternative, Lisk adopts a Delegated Proof of Stake (DPoS) consensus mechanism.Briefly put, every member of the network, that is LSK token holders, can vote for 101 delegates. In this context, casting a vote means ‘staking’ (locking) a predefined amount of LSK tokens in special wallets. In turn, the ‘active delegates’ are responsible for validating Lisk transactions and for creating blocks.The Lisk blockchain is considerably fast, with new blocks being created roughly every 10 seconds, while each cycle of 101 blocks takes around 16 minutes for settlement—to compare, Bitcoin takes around 10 minutes for the creation of new blocks.Complementing the network’s sidechain…

Source: What is Lisk? (LSK) – A bitFlyer Academy Guide for Beginners

Buy Shiba Inu, Bitcoin, Ethereum and many more Coins!

Worlds Biggest Bitcoin Exchange And Altcoin Crypto Exchange In The World

Leave a comment

Your email address will not be published. Required fields are marked *