Lisk is another platform where developers can build blockchain based apps. So, in essence, it is similar to Ethereum or Cardano. I know all of you are thinking ‘Not Again!’
But then how does it differentiate itself from ETH and Cardano?
The following are the reasons:
1. Lisk allows the development of sidechains: For ETH atleast, any new developer who chooses to develop an app atop of the ETH platform will have to adopt ETH as the underlying blockchain. There are no provisions to carve out a blockchain independent of the original ETH chain.
3. Lisk uses staking and delegation reducing energy needs: Instead of the traditional mining approach, Lisk uses the staking approach to mint new coins. This results in substantial reduction in energy requirements. (The idea of staking is where the individual holders of the coin band together and delegate a single holder as the representative. These representative holders are put to a vote, and a vote is in a sense an agreement to lend the designated representative holder the coins held by the voters, thus making it appear as if the representative holds more coins. Now amongst many such representatives, the one with the most coins are picked with greater probability as candidates who can add a transaction to the blockchain and earn a reward).
But we shall go into the brief stats before diving into the details, as to why Lisk is a great bet.
|Based Out Of||Germany|
|No. Of Tokens||100,000,000 (100 million)|
|Max Kordek||Co-Founder, President||Dropout, Electrical Engineering, Aachen University|
|Oliver Beddows||Co-Founder, VP||Full stack developer with over 15 years experience in building mission critical enterprise applications.|
|Guido Schmitz-Krummacher||Member (?)||experienced entrepreneur with more than 25 years of leadership experience in companies at different stages and segments. His background is international-law and economics (EMBA in finance)|
Comments: I won’t be a very good judge of the backgrounds of the members for Lisk, because, it appears that there is not much written highlighting their achievements in Linkedin. To add to that, I do not have a good idea of the German scenario.
|Closing Comments||This is probably the first platform that keeps the needs of the developers in mind over other things. And that is again one of the USPs that it can boast, because one can argue that these developers are bound to be the most important influencers when it comes to the growth of a Blockchain platform.|
|X Factor:||Allows developers to create independent sidechains, which will be treated as independent from the Lisk platform. This also brings to the table certain scaling advantages that otherwise weren’t there.|
|Usage of widely used programming languages.|
|Staking vs mining leading to lower energy requirements.|
|It has also been recommended by cryptohoopla, which is a pump and dump group in Asia on Feb 19, 2018. Its predictions have so far been solid. (https://www.cryptohoopla.com/category/crypto-reports/)|
|Do we see this existing 5 years down the line?||Yes|