April 20 2022
Lisk – A Blockchain Platform with Sidechains
What is Lisk?
Established in 2016 by Max Kordek and Oliver Beddows, Lisk is a blockchain platform that empowers the developers to build applications backed by a custom sidechain interlinked with the Lisk blockchain.
LSK is the token symbol of the platform. And the current supply is 115,994,760 LSK. The transactions usually take ten seconds to get a confirmation.
Lisk uses a mechanism called Delegated Proof-Of-Stake for mining. Everyone holding LSK is eligible to vote for mainchain delegates which are responsible for maintaining and securing the network. The top 101 delegates are likely to earn the block rewards, and the remaining delegates have to wait to get elected in the top 101. Or they can alternatively keep on securing a Lisk sidechain.
The sidechains can use LSK on their platform. Or can create a custom token.
Also, as all sidechains would have a connection to the Lisk mainchain, the blockchain applications can use the services provided by the other sidechains in the ecosystem. Moreover, a decentralized application directory is available like that of an Android Play Store, which every user can access.
The Lisk ICO went live in 2016 where there were 3908 unique participants.
The official site, Lisk.io, provides the wallets for Windows, Mac OS, and Linux platforms.
m.lisk.io is the destination for browser-based wallets for Mobile and desktop machines. And the support for the hardware wallet Nano Ledger S is in progress.
How to get LSK tokens?
Mining is a good option if you can get enough votes to be the mainnet delegate. Otherwise heading over to a Cryptocurrency exchange is feasible.
Bittrex, Binance, Poloniex, Yobit, and Bitbay are some Cryptocurrency exchanges trading LSK.
Lisk is an entirely different platform in the way it provides the services acting as a blockchain platform. The price of the LSK has been 10 USD and no doubt that it will increase in the near future.