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Lisk (LSK) Logo
$ 332.25 M
LSK 2,638.40 K
~ 159.92 M
Total Coins Mined
~ 111.44 M
*General last updated 10/22/18 10:05:17 PM
The Lisk network like Ethereum offers a decentralized development portal, powered by Lisk tokens to help developers create new and innovate solutions on its proprietary blockchain. Its support of side-chains makes it an ideal candidate for enterprise-level development. The Lisk team has made it a priority to foster partnerships across the crypto landscape, and there is cross pollination on the back-end side with notable Ethereum developers involved in creating the Lisk network. The ticker for Lisk is LSK.
LSK has a current market capitalization of around $US 350 million. The LSK token was available through purchase during the ICO, and is also available through secondary exchanges like Bittrex and Poloniex.
The Lisk network was launched as a means of fostering decentralized development, with the Lisk team touting LSK as the world’s first ‘modular cryptocurrency.’ Through the use of side-chains, Lisk network is able to scale exponentially without altering the speed or performance of the underlying blockchain. Like ether, LSK is used as gas for facilitating transactions. According to Lisk, the vision is to create an ecosystem that brings together the benefits of decentralized consensus with a timely and expedited process of bringing dApps to market.
Lisk was founded by Max Kordek (President/CEO) and Oliver Beddows (Vice President and CTO) in early 2016. The team currently numbers almost 50. Key role-players include aside from Kordek and Beddows include Thomas Schouten (Head of Marketing), and Julian Alterini (Creative Lead).
Like mining, Lisk delegates receive token rewards through a process called foraging and through round fees. The latter includes voting, delegate registration, transmitting funds, and registering a multisignature.
The consensus protocol can be broken down into several key elements:
The Lisk Development Foundation maintains a supply of hard cash from the ICO to fund the project going forward. Unlike other blockchains which require the support of full chain download or node to operate the token, LSK is fungible across Lisk’s proprietary Nano Wallet.
The Nano Wallet is meant to allow for more advanced functions like delegate voting, and more simple functions like sending and receiving transactions across the Lisk network. The Lisk Software Development kit (still in beta) will allow users to create their own tokens and financial incentives for their app via individual tokenized communities on Lisk network side-chains.
Decentralized development portals offer many incentives for community building and project development. Using LSK as gas further allows differing applications to be designed like gamified token standards, or decentralized web browsers.
In order to achieve their goal, Lisk has partnered with firms like Microsoft and Azure to create a diversified basket of products for its decentralized vision.