Presentation and definition of the crypto-currency Lisk (LSK)

Presentation and definition of the crypto-currency Lisk (LSK)

  • Name of the crypto-currency : Lisk
  • Acronym : LSK
  • Where to buy Lisk ? Binance, Bitbay
  • Date of creation : May 2016
  • White paper of Lisk
  • Website Lisk

The platform Lisk

Lisk is a platform for building applications on the blockchain. The system Lisk offers a complete interface development and works with a blockchain and its own crypto-currency. On Lisk, developers can code their apps in JavaScript. The objective of Lisk is to make use of the blockchain accessible to the general public. Added to this is the ability to create tokens and sidechains fully customized.

The tokens LSK

The network Lisk uses its own crypto-currency, tokens LSK. The tokens LSK are used on the network to generate new tokens, in order to reward miners, or even to run applications (in the form of GAS). When the ICO (initial corner offering), 100 million units have been distributed. 85,2% were sold to buyers. Only 7.8% have been given to the developers, while 4% have been reserved for the marketing and promotion of Lisk. The partners and the initial contributors have received 3% of the chips. The issuance of LSK is not limited, it is therefore potentially infinite. The first year, 5 tokens LSK are created for each block mined. Then, the rate drops 1LSK-by-block basis until the fifth year. It takes 10 seconds to make a block.

The consensus

Lisk uses the consensus of Delegated Proof of Stake for the validation of blocks. Each user who holds LSK will be able to vote for delegates. He can’t there be more than 101 delegates involved. These 101 delegates forge currently an average of 10,000 Lisk per month.