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Lisk

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Description

What does Lisk do?

Lisk allows for developers to create dApps using javascript on the Lisk blockchain. Users can create their own sidechains with custom tokens that can be easily customized for a variety of different uses. Sidechains use the main Lisk blockchain to maintain consensus.

Lisk is open-source and utilizes DPoS, to reach mining consensus. Lisk also offers cloud storage within their platform. Since the code for Lisk was written with Javascript, the platform is considered very flexible with great potential for future development.

What is LSK used for?

LSK, the native coin of Lisk, is to be viewed more as a “utility token” than as a currency, meaning that it has specific purposes. LSK is used to pay for fees generated on the Lisk platform. One such fee is incurred for running dApps. Another fee LSK is used to pay for is generated when registering a multi-sig account, which is a highly secure account that requires the approval of multiple users for transactions.

LSK can also be used to pay for services such as cloud storage and computing nodes that are a part of the Lisk network.

How can LSK value appreciate?

LSK is designed to be inflationary over time because LSK are generated as “forging rewards.” The inflationary nature may keep LSK’s price down as its total supply increases. However, users may be interested in accumulating LISK to earn the forging rewards, which could cause the price to increase along with the total supply or possibly even faster. It’s also worth noting that the forging reward decreases over time.

What is the difference between Lisk and its competitors?

Lisk differs from other dApp platforms in that it uses Javascript, a popular programming language in the developer community. Lisk also has a fully-fledged mobile app for both iOS and Android. However, in order to be eligible to help reach consensus within the DPoS system, you need to pay 100 LISK to register as a delegate, which is a higher relative cost than on BitShares and several other DPoS blockchains.

  • Mainnet Launch: May 2016
  • Open Source: Yes
  • Consensus Type: DPoS
  • Technology: Blockchain
  • Total Coin Supply: 121,033,200
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REWARD
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RISK
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Description

What does Lisk do?

Lisk allows for developers to create dApps using javascript on the Lisk blockchain. Users can create their own sidechains with custom tokens that can be easily customized for a variety of different uses. Sidechains use the main Lisk blockchain to maintain consensus.

Lisk is open-source and utilizes DPoS, to reach mining consensus. Lisk also offers cloud storage within their platform. Since the code for Lisk was written with Javascript, the platform is considered very flexible with great potential for future development.

What is LSK used for?

LSK, the native coin of Lisk, is to be viewed more as a “utility token” than as a currency, meaning that it has specific purposes. LSK is used to pay for fees generated on the Lisk platform. One such fee is incurred for running dApps. Another fee LSK is used to pay for is generated when registering a multi-sig account, which is a highly secure account that requires the approval of multiple users for transactions.

LSK can also be used to pay for services such as cloud storage and computing nodes that are a part of the Lisk network.

How can LSK value appreciate?

LSK is designed to be inflationary over time because LSK are generated as “forging rewards.” The inflationary nature may keep LSK’s price down as its total supply increases. However, users may be interested in accumulating LISK to earn the forging rewards, which could cause the price to increase along with the total supply or possibly even faster. It’s also worth noting that the forging reward decreases over time.

What is the difference between Lisk and its competitors?

Lisk differs from other dApp platforms in that it uses Javascript, a popular programming language in the developer community. Lisk also has a fully-fledged mobile app for both iOS and Android. However, in order to be eligible to help reach consensus within the DPoS system, you need to pay 100 LISK to register as a delegate, which is a higher relative cost than on BitShares and several other DPoS blockchains.

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