Lisk is an open source blockchain application platform that improves Web3 accessibility for developers and users. It offers an easy-to-use software development kit (SDK) that allows developers to build blockchain applications using one of the most widely used programming languages, JavaScript.
What is Lisk?
Lisk is an open source, layer 1 blockchain application platform that aims to help established users enter the crypto and Web3 space. Thanks to its easy-to-use SDK, developers can easily build scalable blockchain applications. The metaverse projects, DAOs, NFT marketplaces and many other applications they create can also offer faster transaction speed with lower fees for users.
Proof of Stake (DPoS)
Lisk uses the Delegated Proof of Stake (DPoS) consensus algorithm to secure the blockchain. DPoS is considered a more efficient and democratic version of the popular Proof of Stake (PoS) mechanism. It allows validators to outsource block validation through a voting system.
On the Lisk blockchain, voters can use LSK coins to vote for up to 10 agents to secure the network on their behalf and share the LSK rewards among them. In general, a delegate with more votes is more likely to be elected to form the next blocks. LSK can operate in a highly decentralized way as the process is distributed among more than 100 authorized validators. It also enables the network to achieve scalability and increase transactions per second (TPS).
Lisk SDK
A unique feature of Lisk is its software development kit based on JavaScript, one of the most widely used programming languages in the world. Popular blockchain networks are often based on different languages. For example, Bitcoin (BTC) uses C++, while Ethereum is built on Solidity. It can be difficult for developers to interact with different blockchains unless they have a strong command of several languages.
Lisk’s solution for this is an open-source and modular SDK in JavaScript to make blockchain and Web3 universally accessible to a wider range of developers. Using a very common programming language removes barriers for those new to building blockchain applications. Newcomers can start building using JavaScript and TypeScript right away, without having to spend time and effort learning blockchain-specific languages.
Also, after the launch of the prospective Lisk Platform, developers will be able to leverage the Lisk SDK to implement their applications on sidechains instead of smart contracts. The interoperability of sidechains will improve scaling and keep transaction fees to a minimum. The Lisk SDK is also expected to support the development of NFTs, P2P and Proof of Authority (PoA) modules.
What is LSK?
LSK is Lisk’s native cryptocurrency and utility token. It is used to pay transaction fees on the network and reward the authorizers. LSK holders can also use the token to secure the Lisk network via DPoS. They can stake LSK tokens in the Lisk Desktop wallet to vote or authorize, and the coins are locked as long as the user fulfills one of these roles.
The use of LSK is expected to increase, with more use cases emerging as the Lisk network gains interoperability with other blockchains. For example, LSK can be used to register blockchain applications or transfer messages between different applications.
