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LSK
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Lisk
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The price Lisk today is 2.95 USD, and the trading volume in 24 hours - 18,362,755 USD. The crypto asset has grown by -5.9% over the day. Currently, the coin’s market capitalization is 379,632,435 USD, and has 128,900,445 coins in circulation with the max supply of 8,888,888,888 coins LSK.

What is Lisk (LSK)?

Lisk is a cryptocurrency designed to serve as a platform for decentralized applications( dapps), special programs designed to run on a network of computers that have shared software installed.

The goal of the project is to allow developers to transfer skills more quickly to build decentralized applications, as it allows them to write programs using the Javascript and Typescript languages that are widely used in general web development.

However, Lisk allows developers to create customizable, decentralized applications and cryptocurrencies using so-called "side chains", unique block chains running on the Lisk network. These sidechains are tied to the Lisk blockchain and are configured to meet the needs of Lisk's decentralized applications.

Since these blockchains are compatible with Lisk, developers can use resources such as the project's software development kit, coding libraries, and its LSK cryptocurrency.

The cryptocurrency that supports the Lisk blockchain, LSK, is needed to pay for the costs of key operations and to vote on proposed software rule updates.

The Lisk team, one of the first blockchains to develop decentralized applications, has been continuously informing its users about the status of its roadmap through its official website since 2016.

Who created Lisk?

Founded in 2016 by Max Kordek and Olivier Beddows, Lisk originated from a fork of Crypti, a similar Javascript-based cryptocurrency project that Kordek and Beddows started in 2014.

In February 2016, the founders conducted an initial coin offering (ICO) for the Lisk cryptocurrency, LSK, raising 14,000 BTC (approximately $ 5.6 million) as a result of the auction sale of 85% of the Lisk tokens.

The remaining 15% of LSK coins were distributed to key developers and stakeholders. When relaunched in 2018, the project's focus shifted to a new branding, design, and UX strategy.

What is the uniqueness of Lisk?

The main software implementation of the network - Lisk Core, ensures compliance with the rules of the protocol, synchronization and smooth operation of the computers on which it runs.

The Lisk Software Development Kit (SDK) is used to create decentralized applications (dapps) that are compatible with Lisk Core.

The SDK consists of three components:

  1. Lisk Framework-facilitates interaction between modules of decentralized applications.
  2. Lisk Elements-a set of coding libraries
  3. Lisk Commander is a tool that allows users to interact with the blockchain.

How many LSK tokens are in circulation?

As of the end of January 2021, there were more than 127 million LSK tokens in circulation, with no maximum supply.

How is the Lisk network protected?

To secure its blockchain and synchronize its distributed network of computers, Lisk uses a consensus system called Delegated Proof of Ownership (DPoS).

DPoS uses a real-time voting system to determine which computers that have the software installed can create the next block in the Lisk block chain. This means that anyone who owns an LSK can help operate the network.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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