Lisk (LSK) – Why not stop restricting your view to the trailblazers or the toppers of the cryptocurrency table, try to explore what the benchers have to offer and see if you could derive meaningful things. The world itself is not all about ups alone, it is full of ups and downs. An adage says, if you are yet to visit another man’s farm, you will think yours is the mightiest. In the globe of cryptocurrency lies numbers of decentralized blockchain network competing to be the best, amongst which Lisk holds a seat, though, it is growing steadily and quite dizzy, but still shows some ambitious character of mounting the meridian. Lisk (LSK), has a total market Cap. of $1,227,795,112 USD which is equivalent to 142,187 BTC. Presently ranked 20, LSK is priced $11.91 or 0.00137881 BTC on cryptocurrency exchange Coinmarketcap.
Source: CoinMarketCap
Launched on May 24th, 2016, Lisk is a blockchain technology that uses JavaScript has its major language, granting a wide range of developer the ability to easily develop applications on its network. You do not have to be a programmer don to develop your App on the Lisk ecosystem, for this reason, over the years, it has developed to be the largest network where you can easily develop your app.
Through an ICO, It was able to raise $US5.8 million when it was launch and was considered the second most prosperous ICO behind Ethereum at that time. Lisk made developing your App with passion and desire easy.
All you need to know is JavaScript, as all necessary things are made available and cheap for your development.
Lisk aims at using LSK token and Lisk network to grant persons the ability to develop and unveil their own App within the realm of Lisk network. Although it is a resemblance of NEO and Ethereum which offers the same opportunity to its users but not completely the same because it displays some outstanding and incredible features.
If you are searching for an altcoin that has been displaying miracles lately and you have been monitoring the trend of cryptocurrency, I guess you should have noticed some of the dramatic display of LSK among other coins, showing prosperity for the future.
Since the recent plunge in cryptocurrency, Lisk has been monitored as one of the most progressive digital currency in the Cryptomarket.
As a result of its development and goal, Lisk may be similar to some altcoins, and people, overtime get confused and misattribute Lisk. Evident of such, proper clarification of matters resulting into confusing are discussed below.
Is Lisk A Fork of Ethereum?
Most people misinterpret Lisk as a fork of Ethereum, whereas, Lisk is a fork of Crypti project. Lisk code was forked from Crypti’s. Max Kordek the CEO and president of Lisk then took advantage of the unsustainable financial reserve of Crypti foundation and leveraged the code developed by Crypti which he believed was a good foundation, and he gave the world Lisk, a decentralized blockchain network he felt people actually deserve.
Is Lisk the same as Ethereum?
Many have been able to align multiple similarities between Lisk and Ethereum, of which, they stand to be factual as both stand to pursue almost the same goal. Just like Lisk, Ethereum was built to help developers easily build and launch their decentralized blockchain applications.
Nevertheless, there is a margin between these two, and there is need to separate the Sheep from the Goat.
When it comes to storage, unlike Ethereum that stores information on a single blockchain, Lisk was developed to store information on sidechain, a separate place from the main blockchain, to free its system from agglomeration.
Also, while Ethereum leverages on different programming language amongst which a JavaScript-like library, Solidity exist, Lisk was programmed with one of the most common and easy languages known as Javascript.
Is The Programming Language Used To Develop Lisk Secured?
Well, it is believed that JavaScript is a weakly typed language and it displays is back code when viewed, nevertheless, this is not an alibi enough to tag it as being unsecured because the level of security of a code all depends on the programmer.
JavaScript, according to the team, was chosen due to its level of popularity, simplicity, and universality to grant easy access to people around the universe.
In a bid to further strengthen the code, the team is planning to transit into TypeScript, a strongly typed code that should fill all loopholes related to weakly typed codes.
Does Lisk use Proof of Stake (Pos) consensus model?
Lastly, many believed that Lisk uses Proof of stake consensus system just because it is a decentralized network like Bitshares, Nxt, and Bitcoin. Nevertheless, it stands out different by neglecting the use of consensus models like Proof of Work or Proof of Stake.
It specializes on the use of Delegated Proof of Stake (DPos) algorithm, which grants users the ability to elect delegates of mainchain that helps to secure the network.
Up until this end, if you are following this article fervently from the beginning, you will notice that while the cryptocurrency fathers are the trailblazer, Lisk leveraged on its ideas and stood out to be a different blockchain.
By now, you should be able to set disparity between Lisk and other blockchain technology and now be cleared of all doubt and misconceptions.