LISK: Platform Facilitating Developers to Manage Own Sidechains

• 1 LISK is an open source software development kit that helps developers build scalable blockchain applications.
• 2 It is built to focus on accessibility to crypto and benefit from web3.

LISK is an open-source blockchain platform designed to provide development and execution of decentralized applications.

It also provides the Lisk wallet where users have to create an account, register a username, and select an avatar for identification. The user can hold tokens securely with Lisk. The platform facilitates bridging to other crypto platforms like Ethereum and this will cause a domino effect with new use cases and adoption.

LSK tokens power the dApps built on top of the platform. The Lisk team launched the Lisk Grant Program which is focused on creating new frameworks for development teams to build blockchain applications powered by Lisk.

Besides the Lisk Grant Program, Lisk hosted a hybrid event in Berlin called AmpliFier in early December 2021. The company shared with the community the planned marketing efforts for the coming year.

Lisk Origin, Aim, and its Founders

Lisk was founded in 2016. It was built with the aim of enhancing accessibility. They believe that not only the technically sound and the elite should have access to crypto, but also that everyone in the world should have access.

Instead of depending on smart contracts, developers are implementing their blockchain applications natively on their blockchain with the Lisk SDK. This prevents high fees and scalability issues.

Lisk was founded by Max Kordek and Oliver Beddows. Max co-founded Lisk when he was just 24 and raised 14,000 BTC during its ICO in 2016. Max became increasingly involved in the global crypto community, speaking at many of the top blockchain conferences in the world.

Oliver Beddows is the CTO of Lisk. Since 2014, he has been working as a veteran crypto developer. He developed Lisk as a platform for Java script developers.

Plans of LISK Platform for the Coming Years

Lisk is a powerhouse for web3 apps. The Javascript developers around the globe are building web3 apps with accessible development tools. Some of the examples of web3 apps on Lisk are the Agro app which is an E training platform for learning web3 development, the Bazar app which is a marketplace for sustainably-sourced products, and Colecti which is an NFT marketplace.

Plans of the platform in the coming years include:

Research and Development: The project has completed the Emerald phase, which leads it to the Sapphire phase which implements interoperability into the Lisk network through the sidechain technology. This will allow all the blockchain applications on the Lisk network to communicate with each other.

The finalization of the Sapphire phase leads to the Diamond phase of development. The development team seeks to reach interoperability. This will facilitate bridges from the ecosystem directly to chains like Ethereum, Cosmos, and Polkadot. Although these bridges are in a row, the list of networks to connect with is not complete yet.

Events and Exposure: The Lisk team is also planning on attending many upcoming events and conferences focused on developers and blockchains. This will help gain better exposure. The list of events that they plan to attend include:

1. The International Java Script Conference in New York.
2. Dubai Future Blockchain Summit
3. Token 2049 London.

How Does Lisk Work and How is the Network Secured?

Lisk operations are based on a decentralized network of nodes that validate and process the transactions. Anyone can run a node and become a delegate by owning and using LSK tokens for voting. Delegates validate the transactions and add new blocks to the blockchain. The user community selects the delegates.

The Lisk network is secured through a Delegated Proof-of-Stake (DPoS) consensus mechanism. DPoS is environment-friendly and highly efficient. The electricity requirement is kept to a minimum for the entire ecosystem as the platform does not need miners. It also ensures high throughput and security.

Market Analysis of Lisk Coin and its Circulation

The blockchain started with 100,000,000 LSK at a market value of $5,800,000 at the time of the ICO in 2016. Six years later in February 2022, with a market value of $240,000,000, there are around 140,000,000 LSK.

At launch, only 8% of the initial LSK token supply went to the Lisk co-founders, which is at the lower end of today’s standards.

CoinMarketCap data shows that it has a market cap of $152,993,751 and a circulating supply of 128,900,445 LSK. The total supply of the coin is 144,818,773 LSK. The fully diluted market cap is $171,903,171.

The Lisk token is available on popular exchanges. Some exchanges listing the coin are Binance, Kraken, Huobi, Bitflyer, etc.

Amanda Shinoy

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.

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