Cryptocurrency News, ICO Reviews. Blockchain Features: 100% Ad Free & Independent

What Is Lisk? Introduction to LSK Token

Can NEO and Ethereum’s Little Brother Be a Big Deal?

1,556

Like NEO and Ethereum, the Lisk network is a decentralized application network that uses smart contracts powered by LSK tokens to provide developers with a platform to create magic on. This blockchain network has a few tricks up its sleeve, including JavaScript support, which could make it a go-to for web-based apps.

Lisk is a media darling because of projects of various hype being developed on its platform. If cryptocurrency were a video game, this would be the equivalent of the Nintendo Switch securing exclusive publishing rights for blockbuster games like Overwatch, Madden, or League of Legends.

The little guy can win sometimes, and the Lisk Foundation is pushing for Lisk Meetups, and strategically developing products like Lisk Academy based on its blockchain network. Lisk was created by Max Kordek and Oliver Beddows as a fork of Crypti back in 2016. Several key members of Ethereum’s original team are reportedly working on Lisk, and it secured key partnerships that make it a blockchain network to watch.

Lisk recently undertook a major rebranding effort, as a result of which it has a cleaner and less cluttered look based on a vision to provide a blockchain platform that can be used and developed by a wide range of potential blockchain creators, not just developers.

Before diving into more wonky info on the Lisk network, let’s take a look at the LSK coin.

What Are LSK Tokens?

As of April 30, 2018, LSK has a market cap of $1,386,782,728 on CoinMarketCap. Out of the total 12,661.060 supply, 105,410,666 LSK are circulating at a price of $13.16 per coin. Entering May 2018, LSK is ranked 22 on the highest value coins based on market cap.

LSK valuation bucks many trends in the crypto market due to strategic partnerships with companies like Microsoft. Availability of the Azure Cloud platform increases the network’s viability, when powerful tools like JavaScript and builds a strong case for mainstream acceptance of this Blockchain-as-a-service contender.

Because of this strong backing, LSK coins are seeing acceptance as an equivalent to BTC, ETH, and NEO/GAS across exchanges. Leveraging sidechains, Lisk is aiming at the enterprise market. It’s very user friendly to average consumers, even the non-tech-savvy in the group. With such a wide net of development opportunities, investing in LSK can be seen as investing in the apps behind it.

As more apps are tokenized on the network, airdrops are a definite possibility to LSK hodlers, and Microsoft’s backing could make those free tokens worth more than the average ETH or NEO airdrop.

The Front- and Back-end of Everything

Software developers are fully aware that every app has a front end and back end. In fact, polished ones have many sides to them. By developing side-chained apps (which we discuss in more detail in the ONT intro), Lisk is a scalable platform for developing apps that can handle anything a large company like Microsoft can throw at it.

Lisk has a healthy (for Reddit) discussion thread on Reddit that tracks many aspects of its development. Many smart contract networks have a lot of hype behind them because of strong coding. Not every platform has the strategic partnerships Lisk does though.

The modular approach of Lisk means it’s a powerful tool that’s in the right hands. The ability to build fast, scalable platforms powers the value of LSK, which many believe will hold steady (or gain value) over long terms. It’s not fully immune to crypto industry crashes, but it won’t be hit as hard and will recover quickly.

As adoption of the Lisk network increases, LSK coins will continue to hold value. It’ll eventually spawn new, creative crypto collectibles and disruptive blockchain implementations from startups. Lisk has the kind of support that 99 percent of the crypto industry can only wish for, which isn’t always blatantly obvious by staring at value charts.

Sprouting a Healthy Competition

Cryptocurrency is a very competitive space, but it’s also a collaborative one. Blockchain networks like Ethereum, Lisk, and NEO are dependent on several types of support to sustain. Lisk removes a lot of obstacles by tapping into JavaScript developers. Small startups with Windows computers can leverage this blockchain network to maintain relevancy in today’s market.

Ecosystems like Lisk can be leveraged to harness the power of the Internet of Things and Big Data to disrupt industry giants in any sector. Deloitte predicts blockchain will be a $176 billion industry by 2025, and Lisk’s backend partnerships could build a cult following that make it a sizable piece of that market in the next decade.

While much of the cryptocurrency industry feels like day trading, LSK may be a token to hodl. It has strong long-term ambitions and can easily coexist with tomorrow’s blockchains. While it may never reach the size of some of its competitors, it’ll likely never truly go away. Unlike many ICOs that are numbers-driven, the secret sauce in LSK is its usability.

A healthy market has competition, and nobody will ever be stuck on one blockchain. Networks like Ethereum, NEO, and Lisk have sidechain development that can be applied to any other blockchain. Many industries are cutthroat, but the whales of cryptocurrency swim in pods and promote growth of the entire ecosystem.

Lisk Summary

  • Lisk may only be the kid brother to bigger blockchains like Ethereum and NEO, but it can stand on its own, thanks to strong partnerships and solid development. Instead of competing with others, Lisk is focused on playing nice with everyone, a strategy that fuels the price of its LSK token (which, in turn, fuels transactions on the Lisk blockchain).
  • Key Ethereum developers are working on Lisk, and the Lisk smart contract network operates similarly to Ethereum and NEO/GAS.
  • Lisk’s partnerships include Microsoft, and it supports both Azure Cloud and JavaScript.
  • Lisk is a platform built to support sidechains, making it a solid choice for enterprise development.
  • The Lisk Foundation aimed for the fences with this blockchain, but they’re already rounding second with the third base coach waving them to head home. Whether “head home” becomes a home run or LSK hodlers leaving the stadium with their heads low remains to be seen.

Still, this blockchain network has a solid future in a crowded market, so long as it keeps its head on straight as it grows.

 

News, And Only When It's NEWS
Sign up for occasional updates on whitelists, important news, ICO reviews and more.
You can unsubscribe at any time, and we NEVER sell your info.
X
X