What is Lisk (LSK)? Things to know about Lisk coin

lisk-lsk-coin

Lisk nice LSK coin After the implementation of the ICO the price continued to increase and peaked at an increase of nearly 5000% compared to the ICO price. So…

  • What is Lisk?? LSK coin what?
  • Should I invest LSK coin or not?
  • Buy and sell LSK coin Where is the reputation?
  • Lisk . Wallet Which should be used?

If you are looking to learn the background Lisk blockchain and potential invest LSK coin, this article is what you need to find

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Lisk?

Lisk is a blockchain technology application platform that aims to allow developers JavaScript build blockchain applications and deploy your own sidechain linked to mainchain Lisk, including the creation of private tokens.

Unlike Bitcoin which uses PoW protocol or PoS protocol like Tezos, Lisk use consensus protocol Delegated Proof of Stake (DPoS) to operate the network.

Maybe you don’t know: What is Proof of Stake (POS)? How to mine and mine POS . coins

History of Lisk

Lisk was originally founded by Max Kordek and Oliver Beddows in May 2016.

Thanks to the scalability and flexibility of sidechains above Lisk, developers will be able to deploy and customize their blockchain applications in a powerful way. NS sidechains will be customized to fit, optimally for each blockchain application use case.

The purpose of Lisk is to make blockchain technology more accessible to developers of software written in JavaScript and TypeScript, with a particular focus on user experience, developer support, and in-depth documentation.

Lisk, based in Zug, Switzerland, raised over 14,000 BTC during the launch LSK coin.

Advantages of Lisk blockchain

Lisk network is operated by consensus model DPoS focus on efficiency. With this consensus protocol, security and decentralization are guaranteed.

In addition, there is a special point that makes Lisk become more developer-friendly that is Sidechain Development Kit (SDK: sidechain development kit) by main Lisk create.

With the SDK, developers will have a complete set of tools that simplify the sidechain creation process.

Specifically, the SDK toolkit includes:

  • Lisk Commander: Support bootstrapping and sidechain management.
  • Lisk Elements: Javascript library.
  • Lisk Core: is a tool that allows users to access the mainchain of Lisk.
  • Lisk Hub: Manage Lisk ID, send and receive Lisk token.

Besides that Sidechains are independent blockchains linked to the main blockchain without affecting or altering its speed and performance. This makes applications truly decentralized and independent in blockchain Lisk.

Lisk coin – What is LSK?

Lisk coin – LSK is the base coin of the Lisk blockchain, first released on May 24, 2016. At that time, 100 million LSK was issued through the Genesis Block.

As the base currency of the Lisk blockchain, LSK plays a key role in maintaining the security and stability of the network as well as creating economic incentives for network participants.

Basic parameters of LSK coin

Token symbol LSK
Blockchain Lisk
Consensus protocol Delegated Proof of Stake (DPoS)
Maximum total token supply Unlimited
Total tokens in circulation 123,810,730 LSK

LSK coin distribution rate

The initial total supply at the time of launch of LSK coin was 100 million LSK. And these 100 million LSK will be distributed according to the following ratio:

  • 85% is issued via token sale.
  • 8% is held by the Lisk development team.
  • 4% distributed to the budget implementing bounties campaigns.
  • 2% is held by other third parties.
  • 1% distributed to early backers.

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What is LSK coin used for?

As a blockchain platform aimed at developing and building dApps and sidechain Therefore, LSK coin is used to create an economic incentive to maintain activities on the Lisk blockchain network.

Mainly LSK is used to pay transaction fees on the network and as a block reward for those who participate in the new block generation process.

How to mine Lisk coin (LSK coin)

Because you do not use PoS protocol, you do not want to mine LSK coin like Bitcoin mining. However you can participate in the process Forging of the Lisk blockchain and get block reward of LSK coin.

Initially the reward for each new block created is 5 LSK. However, this number decreases over time and decreases by up to 1 LSK for each new block.

Due to aggregate supply LSK unlimited and LSK coin new is created with each new block so it will lead to inflation. The inflation rate will gradually decrease to 1.74% per year after 15 years.

dao-lsk-coin

Should I invest Lisk coin or not?

Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to invest or not. Here is some useful information that can impact the return on your Lisk coin investment.

Lisk blockchain development team

Stand behind Lisk is the Lisk Foundation, headed by the president and director, Max Kordek.

Max Kordek first came across blockchain technology in 2012 and since then he realized it was the future and wanted to make it as practical as possible.

With many years of experience in the technology field along with a large team of support members who are also top developers, Lisk blockchain has a very strong development team.

The team’s vision is to build trust for those who want to expand their current field into the blockchain space in the simplest and fastest way.

Lisk’s competitors

With the desire to become a development platform for dApps and sidechains, competitors of Lisk are all “giants” in the crypto space. A few names that can be mentioned are: Ethereum, Tron, EOS…

Besides, the number of dApps, sidechains currently developing on the Lisk blockchain has not been announced. It is this that causes the community to have many doubts.

If in the future, Lisk does not have a strong or transparent transformation in the development process, it will be difficult to compete with other competitors, making the development potential of Lisk very difficult. LSK coin adversely affected.

Price LSK

gia-lsk-coin

Currently, at the time of writing price LSK coin is trading at 1.22 USD. Level highest LSK price was set at $39.31 (January 2018). That is, compared to the peak price, then price LSK currently divided by almost 32 times, a terrible spread.

Meanwhile, LSK’s all-time low of $0.096 was set on March 2, 2017.

Where to buy and sell LSK coin?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy LSK, sell LSK has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell LSK coins in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy LSK For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

International reputable LSK coin trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Houbi 0.070-0.20%
Okex 0.060 – 0.150%
Binance 0.015-0.100%
Kucoin 0.080 – 0.100%

Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell LSK coin Your transaction uses USDT or BTC for transactions.

Lisk wallet should use

Depends on usage LSK coin your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store LSK coin long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

Maybe you are interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020

The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

Maybe you are interested: What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those who regularly trade.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Huobi exchange, Binance exchange…

In addition, you can choose a wallet developed by Lisk itself with version Lisk Hub for computers (windows, macOS, Linux) and Lisk mobile for smartphones. You can access the link: https://lisk.io/wallet to download and install this wallet.

Conclude

This article has summarized the most basic information you need to know about Lisk blockchain and LSK coin. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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