What is Lisk?
Lisk (LSK) is a platform for decentralized applications that allows developers to create their dApps on sidechains using the popular programming language Javascript. This is actually huge because one of the biggest struggles the industry has seen in its infancy is getting developers up to speed with new programming languages and grasping the granular codebase of existing blockchains.
Until the blockchain made decentralized applications possible developers remained at the mercy of the centralized app repositories such as Google Play and the Apple App Store. These centralized platforms took the majority of developer revenues and also made it difficult for new developers to gain traction without spending advertising dollars on those same platforms.
Lisk is hoping to simplify development by using Javascript and to make development fairer for the developer community. With millions of programmers already using Javascript, Lisk has a step ahead of the likes of Ethereum, where developers are forced to learn the new programming language Solidity if they want to develop dApps.
Lisk History
Lisk (LSK) was first envisioned by its founders, Max Kordek and Oliver Beddows, in response to the confusion developers had over which language to focus on for blockchain development.
You see, Bitcoin Core was written primarily in C++, while Ethereum uses a brand new programming language called Solidity. Kordek and Beddows envisioned a way to make blockchain development more accessible and figured since the internet primarily runs on Javascript, why not use that to create a blockchain and dApp platform.
The initial creation was launched in 2014 and was called Crypti, but that later evolved into Lisk in May 2016, when Crypti forked to better realize the founder’s vision.
How Lisk Works
Lisk (LSK) is seeking to be a platform provider for dApps with its own network, which makes it similar to Ethereum and Tron, but it has its own unique features.
As mentioned above, Ethereum uses the Solidity language, which forces developers to learn a new programming language if they want to work with Ethereum. It is also focused mainly on smart contracts.
Lisk uses Javascript and a complete Software Development Kit (SDK), and allows developers to place their fully developed dApps on a Lisk sidechain for a fully independent blockchain with each dApp that shares in the security provided by the Lisk mainchain.
Why is Lisk Different?
The Lisk (LSK) creators wanted to make blockchain technology as accessible as possible, so they created a solution based on a Software Development Kit (SDK) written in Javascript with its main focus being developer support and the user experience.
The Lisk SDK has four primary parts:
- The Consensus Algorithm – Lisk uses Delegated Proof of Stake (DPoS).
- Sidechains – This allows developers to create their own independent blockchain linked to the Lisk mainchain.
- Back-end Code – Developers are able to use this customizable code and create dApps.
- Front-end Code – Customizable user interface elements.
The reason the creators of Lisk configured it in this way was to allow any independent project the ability to link to a stable parent chain that shares its security (via delegates), scale and robustness.
When the original Lisk blockchain is combined with the open-source SDK developers can easily create dApps that are convenient and useful. The dApps can then be made accessible in a decentralized “dApp store.” Similar to the way Ethereum uses gas, Lisk consumes LSK tokens for using the services of the network.
Lisk Development Use Cases
Lisk (LSK) has already given developers some basic examples of blockchain services that can be easily provided using the Lisk SDK:
- Oracles – Gives developers the ability to pull in real-time data with blockchain oracles
- Smart Contract Execution – Eliminates counter-party risk through secure, trustless escrow services.
- Decentralized Hosting – Allows for the storage of media in a decentralized cloud-environment.
- Identity – Instant single-sign-on service for websites that require registration.
By using an open-source SDK the entire Lisk ecosystem benefits from every new dApp created by developers. As an example, a developer could create their own sidechain to deploy Ethereum Virtual Machine smart contracts and then every other developer would be able to use that library in their own projects.
Lisk Decentralized App Directory
The Lisk (LSK) client allows you to search for any dApp that’s been added to the network, just as you would use an app store to search for traditional apps.
This is possible because all of the blockchain apps must register to the mainchain, creating a link between the mainchain and sidechain and allowing the application directory to find and list all available blockchain applications.
During the registration process, the developer is able to set a unique name for their dApp or service as well as providing the download link and adding a description, category, tags and an icon for branding purposes. It’s all very much like the current process followed with traditional apps on Google Play.
Bottom Line
Lisk (LSK) isn’t the oldest cryptocurrency, but it has been around longer than most. It has seen slow, but steady growth over the years, and while the price of LSK tokens can only be described as volatile, it has remained well above its ICO price at all times, even at the depths of the crypto winter.
The development team has been consistent in keeping to the roadmap and hitting their deadlines, which is refreshing in the blockchain industry.
It’s also good to see that both of the founders have remained with the project since the beginning, guiding its growth in accordance with their vision, and providing leadership to the growing team of developers that have gone from working around a kitchen table to regular offices in the center of Berlin, Germany.
