Lisk (LSK) is a new Crypto currency that only went live in May 2016. Developed by co-founders Max Kordek and Oliver Beddows and also a team of developers and designers. Their aim is to make blockchain technology accessible for everyone by building a block chain application platform in the same way for users and developers.
Summary of LISK
Lisk is a new blockchain crypto currency known as LSK. The team are also working hard to develop a new software Development Kit (SDK) this is written in Java script. This is to bring into effective action your own blockchain network side by side with the Main Lisk network. Which allows decentralized applications to be added to your own blockchain. They say that there are endless possibilities with the Lisk platform like making platform social networks also messengers services and even games which you can have all on your blockchain network. You can implement practically anything into lisk. It has enough blockchian space to have several projects solving the same issues. Lisk is decentralized just like Bitcoin and most other Crypto currencies however it doesn’t use Proof of work (POW) or Poof of state (POS). It uses a simplified version of BitShares algorithm called Delegated Proof of State. This allows every user can vote for main chain delegates which are securing the network.
Pros to Lisk
- No complicated algorithms or peer to peer protocol’s
- Decentralized storage can be done on a stand-alone blockchain or on Lisk.
- Anonymous transactions can be done on a stand-alone blockchain or on Lisk.
- A social blogging system can be done on a stand-alone blockchain or on Lisk.
- 10 second transactions
Cons to Lisk
- Very new so not so well known
- Risk of decrease in value
- Some people do not like platforms written in Java as it is deemed as being weak
- A lot of people think LISK is a fork of Ethereum however it is not
Lisk seems to have got off to a good start, and I think they have the means and ideas to be a hot contender. I also like the fact that they are doing things slightly differently than the main stream crypto currencies. However there does seem to be some criticism regarding that it is written in Java and some people consider this weak and also a lot of people think that LISK is a fork or by-product of Ethereum but is not. I think if they carry on and build a bigger user base they will be one to look out for. For more information on Lisk check out there website here www.lisk.io
So should you sit on your Lisk
I think it looks good and due to the teams enthusiasm and fresh ideas and ways of developing they will be unique and once more people hear about LISK and use it I think they will be one of the top platforms. I would say that LISK looks very promising and worth investing in now before they get bigger. They are not just jumping on the band wagon they have their own ideas that look promising.