Ethereum brought the innovation of smart-contracts. Now Lisk is making them more accessible. Lisk aims to significantly accelerate developer adoption in the blockchain industry by simplifying the means of creating blockchain projects. Best of all Lisk can complement other platform coins and is not necessarily competing with the likes of Ethereum. Secondly, Lisk aims to solve the problem of public blockchain scalability.
To be able to support high usage apps it needs to able to process at least 10, times that. While there are multiple solutions proposed and in the works, they are nowhere near being ready. The good news for Lisk is even if Ethereum is able to scale because Lisk is a sort of different platform it can actually serve as a complement to Ethereum. This means the easiest way to use Ethereum smart-contracts would be by virtue of a Lisk Sidechain.
The first innovation Lisk brings is a software development kit SDK. This instantly makes developing on the Lisk blockchain easier than Ethereum. The second innovation Lisk brings to scaling is side chains.
Rather than have all transactions processed on the main chain like Ethereum, each application on Lisk will have its own chain. That means the only concern a project will have is the congestion of their own chain. These side chains are completely customizable. Developers can choose their own consensus algorithms, create their own token and anything else you can imagine, so long as someone has implemented it. Just like any other framework, the success of Lisk will depend mostly on how well it is adopted and how many people are creating new features on Lisk.
For example, Proof of Work consensus algorithm is not available on Lisk sidechains, but once someone develops it, everyone can utilize it. Upon creating side-chains, you can either use the Lisk token LSK or create your own. Inevitably some projects will use the Lisk token for simplicity. This includes exchanging tokens for sidechain tokens on the Lisk network.
Lisk is Distributed somewhat poorly with 11 addresses owning greater than one percent of the total token supply. Those 11 addresses own roughly 50 percent of the total token supply. Lisk only distributed 7. The token was clearly distributed fairly, but it is a bit concerning how much the highest stakeholders own. Lisk is in a highly competitive and highly funded bucket of crypto-projects.
Those are just some of the top names. Now, each of these projects is doing something slightly different and it is possible that more than one can come out highly adopted. All of the code for Lisk is open source, which is great.
However, there are some striking concerns with the centralization of the Lisk protocol. One writer lays out three main issues that I happen to agree with: These issues stem from general problems with the DPoS method of consensus. They worked together before on the Crypti Foundation, which is where they discovered their vision for Lisk.
There is not much information on either of the co-founders online and no clear history of great successes. The team is growing quickly and currently is hiring for six more positions.
Lisk lists a few collaborations on their website. It quickly rebounded to 32 USD and is trending up with the market. Lisk is having a rebranding event on February 20th. No big news is expected other than new brand identity, frontend design, dashboard, and wallet. The SDK is expected to release sometime this month and there are already many companies waiting in the wings to use it.
Additionally, Just yesterday Founder Max Kordek pledged 1. Until then, devs will develop on other platforms like they have been with Ethereum and the others. Perhaps the best reason to be optimistic about Lisk is that the founders are putting their money where their mouth is. With this and the SDK releasing soon, the next month or two should be very interesting for Lisk.
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