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.
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.
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.
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.
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.
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