What Is Lisk?
Instead, Lisk uses a simple version of Bitshares’ initial consensus algorithm, the delegated proof of stake. The Delegated proof of stake allows for a more democratic process, those who hold Lisk tokens (LSK), would be able to vote for mainchain delegates which secure the network.
There will only be a maximum of one hundred and one active mainchain delegates which will always get the most votes across the network, and only they can earn block rewards. Other delegates will be on standby seeking to becoming elected or opt for securing a Lisk sidechain.
It is important to note that Lisk is not a fork of the Ethereum code base. Instead the Lisk code base was forked from Crypti.
Sending LSK between accounts is really simple, it only takes about ten seconds and can be considered as immutable after about one to two minutes.
The LISK Differentiation
The Lisk platform comes with an application SDK, this SDK serves as a framework for individuals to deploy their own sidechains and build blockchains on top of them. The SDK allos for the deployment of an individual blockchain and also decentralized applications.
Sidechains will be a key part of their system and will allow for full customization of LSK blockchains. Sidechains will allow for developers to experiment without disturbing the main LSK blockchain. Sidechains will facilitate various needs. The team wants to make sure that there isn’t spam on the blockchain and designed the system to require a transaction fee when saving data on their Blockchain.
In Lisk Sidechains, one would be able to use LSK tokens or new tokens.
Lisk facilitates a space for the creation of a public, private or consortium blockchain. But the project itself, is focused on consortium blockchains. They are seeking to focus on this because they want to bring more startups and developers onboard their platform.
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