Lisk

Lisk is a modular Blockchain Application Platform that facilitates the building of DApp. Unlike other blockchains, it uses sidechains, which offload the computational power used by applications and high volume transactions from the main blockchain. Developers can develop, test, and deploy Lisk blockchain applications using Microsoft’s Azure cloud computing platform and infrastructure in the sidechain without affecting the mainchain.
Share:
Price
Basic
Initial release:
2016-05-24
Hash function:
SHA-256
Smart Contract Support:
Yes
Smart Contract Language:
JavaScript
Consensus Mechanism:
Delegated-Proof-of-Stake
Development Community:
LISK Foundation
Lisk101

What is LISK?

Lisk is a modular Blockchain Application Platform that facilitates the building of DApp. Unlike other blockchains, it uses sidechains, which offload the computational power used by applications and high volume transactions from the main blockchain. Developers can develop, test, and deploy Lisk blockchain applications using Microsoft’s Azure cloud computing platform and infrastructure in the sidechain without affecting the mainchain.

 

How does LISK work?

Lisk (LSK) is non-mineable. Instead, coins are produced by means of “staking”(Delegated Proof-of-stake). As highlighted above, what makes LISK special is its modular structure with the use of sidechains.

A sidechain is a separate blockchain that is attached to its parent blockchain using a two-way peg. The two-way peg enables interchangeability of assets at a predetermined rate between the parent blockchain and the sidechain. The original blockchain is usually referred to as the ‘main chain’ and all additional blockchains are referred to as ‘sidechains’. The blockchain platform Ardor refers to its sidechains as ‘childchains’. It is a technology developed to solve the scalability issue of blockchains.

LSK functions as a utility token, to pay for network fees within the platform. Registering delegates, multi-sig account setup, sending tokens, registering/updating apps, sending tokens in/out of sidechains are all examples of how LSK is used on the platform.

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