What Is Lisk?

Lisk is a cryptocurrency and blockchain network that is based on the Delegated Proof-of-Stake (dPoS) consensus algorithm, which it uses to verify transactions within the network by representatives. These representatives are called “forgers” or “delegates”. The number of delegates will always be 101, meaning that no more forging power will be added to the network. Lisk enables developers to build decentralized blockchain applications in JavaScript, one of the most commonly used programming languages.

The idea for Lisk originated from Crypti, an open-source blockchain application platform that sought to increase the adoption of blockchain technology by building custom and easy-to-use modular products. Max Kordek and Oliver Beddows were frustrated with how difficult it was to create new applications on Crypti, so they created a fork of it called Lisk.

The stated goal for Lisk is “to make Blockchain technology more accessible with a SDK written in JavaScript, special focus on user experience, developer support and in-depth documentation,” according to their website.  Lisk’s blockchain operates using a Delegated Proof-of-Stake consensus algorithm.  The Lisk token is currently called LSK and has a maximum supply of 120,779,934 tokens.

what is lisk

Lisk allows developers to build applications on almost any blockchain by allowing them to use one central API for each task. This makes it easier for programmers and other users to create new decentralized apps (dapps), since they don’t have to learn entirely new programming languages like Solidity (required for Ethereum dapps). As Kordek explained in an interview with BTCManager , “We think that the strength of the Blockchain application platform will be in building all kinds of different applications.” He continued by saying that where we see the biggest potential is in smaller, everyday tasks that people do. A decentralized messaging service like Slack is a good example of this.”

Lisk (LSK) is the token that can be used to pay transaction fees, for services on the Lisk network, and as an investment. As previously mentioned, LSK has a maximum supply of 120,779,934 tokens. The smallest unit of an LSK is called a “dakron”. Cryptocurrency exchanges where you can buy or sell LSK include Binance, Bittrex, Coinbase and FTX.

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