Introduction to Lisk
Lisk was created in 2016 by Max Kordek and Oliver Beddows.
The native currency is the LSK token. :
- It is a utility token used to pay for transaction fees.
- It is the 196th largest crypto currency, with a market cap of $512M.
- It started with a 100M initial supply and it has an inflationary policy, with an uncapped total supply.
Technically, the Lisk Blockchain has a central layer called Mainchain. It has a delegated proof of stake consensus algorithm.
Beside the mainchain, there are sidechains, where applications run on the Lisk Virtual Machine, a custom VM, not compatible with the EVM.
Contrary to other Blockchains with this architecture, like Polkadot, on Lisk there can be an unlimited number of side chains .
And Contrary to Ethereum, on Lisk a Blockchain app runs on its own Blockchain. This architecture offers 4 advantages:
- Lower transaction fees
- More scalability
- High customizability
Building a Lisk application
- It allows to build the decentralized backend of your app, which will be on the Blockchain
- And the frontend, which will be in a web browser
- And it also allows you to bootstrap a Blockchain app
And if you are already a web developer, building a Lisk will feel very familiar, with some concepts very similar to the MVC pattern.
If you want to create your Blockchain app on Lisk, the best way is to get in touch with the community to discuss your ideas, and find people who can help you. The best place for that is the discord of Lisk. And there are also a couple of events organized by Lisk. And the next one is Amplifire, which will be held in Berlin on December 2nd .
That’s it for today, have a great day 🙂