What is Lisk?

The Lisk token, or LSK, is the utility token native to the Lisk ecosystem. The core function of LSK is to cover transaction fees on the Lisk network. It also grants voting rights to token holders.

Lisk recommends that LSK holders keep their tokens in the Exodus digital wallet.

Since LSK is a cryptocurrency, its price tends to fluctuate. In order to make an informed purchase decision, you can have a more in-depth look at the Lisk price history or the current LSK price on the graph above.

What are the Main Features of Lisk?

Lisk is a well-established blockchain-based ecosystem of products, services, and dApps powered by the Lisk SDK. The latter is a software development kit based on JavaScript. Lisk’s choice to keep the kit available to JavaScript developers is a conscious one. 

JavaScript is the most popular programming language, which means that the majority of developers will be able to build with Lisk SDK. To put it simply, this feature lowers the barrier of entry for developers who want to start working with blockchain. 

When using Lisk SDK, developers build their dApps natively on their blockchain. This eliminates the reliance on smart contracts.

Lisk SDK has 4 core features: Lisk Commander, Lisk Core, Lisk Elements, and Lisk Hub.

When it comes to the Lisk blockchain, it’s secured through a Delegated-Proof-of-Stake (DPoS) consensus algorithm where 101 delegates are responsible for creating and verifying new blocks. DPoS is more environmentally-friendly than other consensus mechanisms, like Proof-of-Work (PoW), since it does not require a high amount of computing power. Moreover, the blockchain comes with an integrated Byzantine Fault Tolerance (BFT) consensus mechanism.

Since the launch of the Lisk mainnet, the team behind Lisk makes sure to complete external security audits. All audits are publicly available for anyone to review.

As discussed in the What is Lisk section, LSK is the native token powering the project. It’s the only cryptocurrency available on the platform.

The Lisk network has over 250,00 unique users and has processed around 3,000,000 transactions.

Lisk has been utilized by different projects including Enevti - an NFT-based social media platform, Colecti - an NFT marketplace, Topas City - an immersive VR experience, and so many more.

All of the projects mentioned above have received support from Lisk through the Grant Program - a type of funding for projects who want to build with Lisk SDK.

One of the main goals of this project is to bring the benefits of blockchain to the masses through the Lisk ecosystem. They aim to do this by providing an accessible blockchain ecosystem of products, as well as a suite of tools for building decentralized projects.

Lisk highlights the importance of a strong community, therefore, it provides a discord server through which users can connect, discuss, and share their ideas.

Don't forget to check the LSK price via the graph above before making any purchase decisions.

Who Developed Lisk?

The Lisk crypto project was launched in January 2016. It’s a Switzerland-based company co-founded by Max Kordek and Oliver Beddows who serve as CEO and CTO respectively.

When the idea for Lisk was born, Max Kordek didn’t waste any time in getting the project started. He quit his studies and co-founded Lisk with Oliver Beddows who has been in the crypto space since 2014.

During Lisk’s ICO event in 2016, Max and Oliver managed to raise more than 14,000 BTC for the project.

Besides Lisk, the duo has also co-founded another blockchain-based company - Lightcurve, which is deeply involved with the Lisk crypto project. It develops products exclusively for the Lisk ecosystem.

A non-profit organization, Lisk Foundation, is responsible for managing the project. They handle issues related to finance and law while maintaining compliance with the Swiss Federal Foundation Supervisory Authority (ESA, Eidgenössische Stiftungsaufsicht).

The team behind Lisk consists of less than 50 people from diverse professional backgrounds.

Since the Lisk crypto project was launched in 2016, it has had a head start over many other blockchains and crypto projects. While other projects were still in their idea stage, Lisk was already working on future developments and partnerships.

For instance, in the same year that Lisk was launched, the project signed a contract with Microsoft Azure to bring Lisk to the Azure cloud platform.