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Lisk coin and the technology behind it and its future prediction, get to know everything in this Video.
Lisk is a decentralized network with its own blockchain that has been launched to create a blockchain that enables developers to build a wide range of apps on the Lisk network by developing custom side chains.
In that sense, it has similarities to the Ethereum network. However, the Lisk blockchain has not been built with the intention to create smart contracts, but instead to develop different apps and functionalities using the Lisk App SDK framework.
With the Lisk App SDK, developers are able to develop the backend of your application but also the front end. In other words, they can build functionalities for their app and the user interface using the Lisk App SDK. This enables developers to create blockchain applications in a conveniently downloadable package.
The front end (user interface) of applications can also be accessed in a decentralized way, a unique feature within the blockchain industry at present. Also, it is an open source software allowing a clear overview of what other developers are doing and thereby improving new apps and functionalities built on the Lisk network.
Lisk is also a cryptocurrency and has the ticker LSK. Similarly, though Ethereum’s ether is not a cryptocurrency that is supposed to be used as a digital currency. Instead, it is the token that fuels the Lisk network and developers require them to build on the Lisk network. Lisk had its ICO (initial coin offering) earlier this year, where 100,000,000 LSK were created and distributed among early supporters, the Lisk core team, partners, advisors and ICO participants raising $5.7 million, the fourth highest crowdfund for a cryptocurrency in history.
Claiming to be the world’s first modular cryptocurrency, meaning that various applications will be run on top of the Lisk core and all dApps run their own ‘sidechains’. In this way, the Lisk team hopes to keep the ‘mainchain’ agile and Lisk itself will remain efficient.
Whereas, a problem with Bitcoin is that test or fake transactions can fill up the blocks and slow the network down ‘sidechains’ offers a way to process high volume transactions without slowing down the main blockchain. Consequently, the speed of the Lisk network should continue to grow faster over time.
You can purchase LSK on a range of cryptocurrency exchanges including Poloniex, YoBit, Bloombit, Bit and Bitrex using bitcoin, ether and other cryptocurrencies.
The future price performance of LSK depends solely on the success of the Lisk network and the adoption of its technology by developers, programmers, and start-ups. Lisk is not a digital currency that can be used to buy and sell goods and services. Hence, unlike bitcoin, no merchants will likely ever adopt the cryptocurrency as a means of payment. Therefore, the key drivers will be technology adoption and investor interest, with the two tending to go hand in hand in the cryptocurrency market as ether (ETH) has shown.
Furthermore, Lisk has entered into a partnership with Microsoft Azure, which means that developers worldwide can develop, test, and deploy Lisk blockchain applications using Microsoft’s Azure cloud computing platform and infrastructure. However, there is a risk that more superior blockchains that offer similar functionalities will emerge then the price of LSK will likely drop sharply.
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