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📝 Overview 📝
Central to the Lisk technology stack is their use of Sidechain technology and SDKs (That’s software development kits).
The Lisk SDK allows these developers to deploy their own sidechain to lisk that is fully customisable and free from potential bloat from the mainchain.
In terms of this Mainchain, Lisk uses a Delegated Proof of Stake (that’s dPoS) consensus mechanism.
With this consensus algorithm, blocks are generated by delegated nodes and on the network. With Lisk, the total number of delegates is fixed at 101.
LSK is the utility token on the network and it acts as fuel for the network. It is earned as a reward for block producers as well as to stake.
These tokens are also used to run dApps on the Lisk platform.
The first LSK tokens were initially issued in an ICO crowdsale. Lisk was able to raise an eyewatering 14,000 Bitcoin.
Lisk is a fork of an earlier project called Crypti. This was a project that was founded by the current CEO and CTO of Lisk.
There are over 53 members in the broader Lisk team with a wide array of backgrounds and experience. There are blockchain engineers, full stack developers, data scientists, marketing, operations etc.
They are based in Berlin although the Lisk foundation is based in Zug, Switzerland.
There has been a great deal of work that has been done on the Lisk project as can be evidenced by the extent of their GitHub commits.
LSK is listed on numerous exchanges although the bulk of the volume is currently taking place on Yobit.
There are strong liquidity levels across the exchanges which implies easy execution for your orders.
There are a number of wallets that support Lisk. If you want to stake then you will have to use the proprietary wallet. However, your best bet is perhaps a hardware wallet.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
Source: Coin Bureau