What is Cryptocurrency?

Lisk vs Bitcoin

Lisk is a public blockchain and an Altcoin of which we have not heard much for a long time. It was introduced in May 2016 after one of the most successful ICOs in the history of cryptocurrency crowdfunding.

Let’s Remind What Is ICO?

ICO stands for Initial Coin Offering. This is one of the easier ways to raise capital for a given crypto-related initiative. In the process, a predetermined percentage of the new cryptocurrency is sold to people who join in to back the project usually for Bitcoin. It is mainly used by start-up companies striving to avoid the bureaucracy of venture capitalists and banks.

Lisk was released as a fork of Crypti just under a year after the introduction of the now popular Ethereum Code. The cryptocurrency has been adopted by the major exchanges and is available for trading and investments. It caught international attention because of the many applications it has, most noteworthy of which are:

  • Building sidechains – this is probably the first successful creation of a modular cryptocurrency. This means that each Blockchain App is separate from the main blockchain. The most important implication of that fact is the ability to create customized personal applications and cryptocurrencies.
  • Language – a key advantage of Lisk is the programming language. The executable code of the currency has been written in JavaScript which is one of the most widely used languages. This allows for the much faster development of software projects, and wide accessibility for all sorts of businesses and initiatives.

Major Difference with Bitcoin

Of course, till this day Bitcoin remains the sole ruler of the cryptocurrency market. But that does not mean there aren’t worthy contestants for the crown. Lisk is definitely one of them because it is something new and different from all the mainstream cryptocurrencies and blockchains, including Bitcoin and Ethereum.

The main difference that makes LSK (Lisk) stand out is that if Bitcoin allows you to make transactions using the same blockchain and cryptocurrency, and Ethereum allows for the same, including the creation of smart contracts, Lisk gives you freedom.

Modular Cryptocurrency & Sidechains

With LSK you become an architect of something new and different, and probably better. You can create a sidechain – your own personal blockchain from which can be derived your own personal cryptocurrency that you can use for anything.

Another significant difference that can also serve as an explanation in the sudden increase in interest for Lisk is the fact that unlike the industry leaders – Bitcoin and Ethereum, it does not work on a Proof-of-Work system (PoW) but on a Delegated Proof-of-Stake system (DpoS). This is the equivalent of tech democracy when it comes to consensus algorithms. In this case, people decide through a vote who will run the computer network of their community. The influence of the vote is decided by the quantity of the given tokens they possess.

Who will participate in the running of the network is determined by the quality of work they do and if they are reliable. If not, they can be voted out. The motivation in the Lisk community is very high.

Invest in Lisk or Invest in Bitcoin

When making a decision regarding the investment topic, you should always consider the conditions presented to you when making investments. These include the availability of the asset on major exchanges, are there Lisk brokers available, is the cryptocurrency liquid, and whether the technology is promising.

In terms of technology the Lisk cryptocurrency and blockchain network have sure shown significant potential, especially for developers. The network provides one of the most accessible ways to developer your own apps if you have a knack for that. Programmers and developers find the provided ecosystem to be full of opportunities.

Does that Imply Anything for Investors?

The increased popularity of Lisk and the trust that grew around its capabilities have made it into an interesting asset to invest in. The more it gets implemented by global developers, the more its value will grow. For now, the cryptocurrency is going strong and it is an advantageous way to diversify your investment portfolio. But only if you are capable of understanding the nature of the asset.

The future development of Lisk, both as a leading blockchain technology and as an investment asset looks promising. Yet, it is too soon to conclude something definitive because it hasn’t even been two years since the introduction of the cyber-currency. But global investors are looking eagerly towards the future.

Find the BEST Crypto Tool

Investment solutions get released every day. But that does not mean each is good for your trading ambitions. You need secure and proven to work platforms if you want good returns on your investments. We have found the best among the best and we strongly recommend them. Visit the industry leader if you are eager to start trading.

 

To start making investments, do the following:

1. Go to the Official Website of the Platform

2. Complete the Sign-up Process

3. Start Trading


Jamie Portiss

My name is Jamie Portiss. Let me tell a little bit more about myself. I am a Financial Analyst by profession. Having worked my entire life in the financial services sector, I have managed to build a solid investment portfolio. It all began with a Bachelor’s Degree in Finance and right after graduating from university, I began working as a Junior Financial Analyst at a startup company, dealing with financial solutions. I want to bestow our know-how and understanding of the virtual markets (the cryptocurrency exchange, Bitcoin trading, and Altcoin investment spheres, in particular) with users. All that it takes is to do it the right way!

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Close
Close