The open source blockchain application and the sidechain platform Lisk Network are one of the solutions to solve the defect of Bitcoin. The financing amount and application potential are all worthy of attention in the field of digital currency. Recently, the company has completed the stability and security of the main chain, and all major nodes are operated by democratically elected representatives. The decentralization characteristics have been further strengthened, and block mining and reward mechanisms have been added. And in accordance with the plan, step by step to achieve other advantages, including smart contracts.
In lisk announcement, it committed to build a open source blockchain application and sidechain platform, with a stable version of the main chain, enhanced decentralization features, increased block mining and reward mechanisms.
Prior to this, the Lisk team was responsible for running and managing 101 nodes, and the network was under supervision. These nodes are now operated by 101 different community members. Lisk does not interfere with these node managers at all, realizing a decentralized, trusted blockchain.
Lisk CEO Max Kordek said:
“This achievement is significant for Lisk and can be compared to the advantages of blockchain technology. It can increase financial freedom, provide incentives, improve peer-to-peer experience, and eliminate central institutions. We provide access to 101 of the most powerful Lisk supporters. Node opportunities, you can get LSK mining rewards, you can choose to return the rewards to the system. Joining the decentralized community may be very attractive, but it is difficult to build a decentralized system with active nodes."
The activation of the mining reward system means that LSK holders can choose to keep the currency or invest in the Lisk network for financial projects in the community.
Coinmarketcap shows that LSK market capitalization of more than $1.4 million and ranks 19th in the digital currency.
Lisk Development Plan
Stabilizing the main chain is the first step and the key step in Lisk's development path.
The first phase goals include the integration of Lisk-CLI with the Lisk App SDK, and the Lisk App SDK standardization for developers to develop blockchain applications.
This phase consists of five steps to further strengthen the infrastructure, improve security, scalability, and add advanced application features, smart contract support, and more.
Lisk founder Max Kordek and Olivier Beddows are from the Crypti Foundation. Platform users can develop applications in the JavaScript language and embed sidechains into the Lisk blockchain.
The core idea is that each decentralized application runs on its own sidechain, separate from the main chain. It can solve the scalability problem that exists in many digital currencies.
The network uses a highly efficient Depoated-Proof-of-Stake (DPoS, Delegate-Proof-of-Stake), which is responsible for security issues by 101 democratically elected representatives.
At the editing present, Lisk coin price is $3.38, has a 9% downturn.