- The Lisk platform allows developers to use the popular Javascript language for deploying apps, creating sidechains, or other tasks.
- LSK is the native token of the platform used for voting, paying gas fees, and other purposes.
The Bitcoin network was launched using the C++ language and later Ethereum, the second largest crypto ecosystem after Bitcoin, was launched using the Solidity language. New developers entering the dApp market had to learn these new languages which caused a delay in projects and their further upgrades.
JavaScript is a common language among coders, with several daily life applications written in it. Many Google and Microsoft apps we use have been developed using Javascript. Although the language is considered weakly typed, it doesn’t make it insecure. In the end, it is ultimately based on the coder to write secure codes and its ease of access makes it appealing to several coders.
Finding this loophole, Max Kordek and Oliver Beddows developed a decentralised blockchain platform using the Javascript language and called it Lisk. Lisk is several things: a cryptocurrency, an SDK framework, a sidechain platform, a blockchain service platform, and much more, which we will learn as we go further down the article.
What is the Lisk Platform?
In 2014, the founders developed Crypti, a blockchain platform focused on apps. Although the platform was successful, it still needed heavy work to adapt at a community level. Crypti was forked, in May 2016, to create Lisk which would go on to become a major platform for dApps and related projects in the following years.
Decentralised Network
Similar to networks like Bitcoin, Ethereum, and others, Lisk is a decentralised network based on blockchain technology. However, instead of Proof of Work (PoW), it uses the Delegated Proof of Stake (DPoS) consensus mechanism. Here, there are 101 active and 2 standby delegates to validate transactions and blocks. The block time is nearly 10 seconds, making the network highly efficient.Â
The Sidechain Platform
The Lisk Software Development Kit (SDK) allows developers to create apps on the sidechain framework. The diversity of apps includes games, social networks, exchanges, marketplaces, IoT applications, DeFi, and many others. All these apps are written using the Javascript language.
These sidechains are highly customisable based on the personal taste of each developer. All the parameters, types of transactions, and specifications can be altered to suit the purpose of the dApp better. Developers can choose to use either the native LSK tokens or their custom cryptocurrency over these sidechains. The developers can participate in ICO, list them in exchanges, and use them within the independent sidechain ecosystem. An exchange program can be created to supply the X token with LSK tokens. If the sidechain is malicious or has a major bug, a hard fork can be carried out, keeping the mainchain unscathed.
A Directory for dApps
Similar to the App Store and Google Play Store, the Lisk Directory is an app store for all the decentralised applications and services on its network. All dApps need to be registered with the Lisk mainchain and directory, which is accessible to everyone. The directory bridges several sidechain projects and the mainnet chain.
As we are familiar with, these dApps are also listed with unique names, icons, tags, short descriptions, icons, and a download link at the bottom.
Conclusion
The platform offers several products like the Lisk Service and Lisk Core. These help in maintaining blockchain synchronisation, securing the network, and helping developers to access live blockchain data. Lisk Desktop and Lisk Mobile are two wallet apps, designed for a varied user base.
Seeing the bright future of cryptocurrencies and blockchain technology, the platform has made the path even easier for developers and has been a prominent name in the community since its launch.
