This is Sohel here from Shouter Review and before I get going with this piece on Lisk, I have to make it clear that I am not paid or mandated to do this review. I do my own research and present my views for educational purposes only. Also, I’m not a financial advisor and this should not be interpreted as financial advice and one more thing if you’re new to this post then you may want to subscribe our newsletter to keep you up to date with the latest and greatest in the crypto space now with all of that out of the way/
Let’s get right back to Lisk –
What is Lisk? How does Lisk works? Features of Lisk Blockchain Technology:
There are a number of other features and functionality that define this which I will cover shortly but let’s start with a bit of basic regarding their technology central to the Lisk technology stack is their use of side-chain technology and SDKs that software development kits.
The Lisk SDK allows these developers to deploy their own sidechain to Lisk that is fully customizable and free full potential bloat from the main chain in terms of this main chain Lisk uses a delegated proof of stake that’s the deepest consensus mechanism with this consensus algorithm blocks are generated by delegated nodes and on the network, with lists, the total number of Delegates is fixed at 101.
These delegates will earn block rewards for securing the list network and propagating blocks you can think of them as miners with traditional proof-of-work algorithms. These delegates are not chosen at random they are voted in by all misc stakeholders on the network. I won’t go into the deepest algorithm in-depth but we have covered it extensively in a post below.
Now another key component of the list ecosystem has to be their LSK utility token this acts as the fuel that powers the Lisk blockchain. For example, LSK is earned as block rewards by the delegates it is also used for staking on the network by nodes and acts as the security. These tokens are all here also used to run depths on the listing platform. You can think of them as gas on the Etherium or neo ecosystem essentially paying for decentralized computing power. If any of this is unclear to you then you can read our long-form risk review which is explained below.
Lisk Review: LSK Tokens
The first LSK tokens were initially issued in an ICO crowd sale. This took place back in 2016 when I was still relatively unknown Lisk was able to raise an eye-watering 14,000 Bitcoin. Now, this was worth a few million at the time but is now worth over a hundred million dollars. So safe to say the project is pretty well funded LSK tokens have been through a pretty wild ride since they were issued mostly reflecting the broader market conditions,
They were pretty dominant for late 2016 and early 2017 but were swept up by the ensuing bull market in late 2017 all-time highs reached for about $38 in early 2018. Unfortunately, they were felled in the proceeding bear market prices are still above the level. They were prior to the rally so it ain’t all that bad.
Let’s move on though and look at the broader project now although Lisk was launched in 2016. It is actually a fork of an earlier project called Krypton crypto was a project that max Kordich and Oliver Bedard worked on Max and Oliver are at the current CEO and CTO of Lisk respectively. However, they decided that more financial resources were needed if they wanted the project to achieve its full potential and this was the impetus for Lisk in terms of the broader Lisk team.
There are over 53 members with a wide array of backgrounds and experience. There are block trained engineers, full-stack developers, data scientists, marketing operations, etc. They’re based in Berlin although the list foundation is based in Switzerland mainly for ease of blockchain business in the country. The developers at Lisk have actually been quite busy.
You can see the extent of work that has been done on the project by checking out their Github repositories, in fact, if we were to measure the total code commits of the list compared to all other projects in the ecosystem. It comes in at second place pretty damn impressive moving on though.
LSK Token Market Overview
Let’s take a look at the LSK token market. LSK token is listed on a number of exchanges these include the likes of Yogurt finance, Bittrex, Upbit, etc. Most of the volumes are taking place on Yogurt and by Nantz, with a bulk being on Yogurt. There are pretty high-risk token turnovers on this exchange. This means that you have strong liquidity that implies that large block orders Lisk is unlikely to face any slippage once you have your LSK tokens.
There are a number of storage options for LSK and which one you choose will depend on what you intend to do with them so for example, if you’re looking to stake your tokens and choose delegates then you’re going to want to download the Lisk core wallet.
This lets you run a full node and participate in the listing network. There are also a number of other features that Lisk core affords you. On the other hand, if you just want to huddle your list for the long term then there is a range of third-party wallets that you can use.
Hence more developer adoption and use of the listing platform are needed and what do you think of risk do you have any questions for me let me know in the comments below and of course if you found this post helpful then please sign up to our newsletter. I will be sending much more crypto coverage your way very soon.