Lisk or LSK is a cryptocurrency and decentralised platform. It is very similar to Bitcoin and provides a decentralised payment system and digital money network. The network will operate using a highly efficient Delegated-Proof-Of- Stake (DPoS) consensus model, that is secured by 101 democratically elected delegates. The Lisk decentralised application platform allows the deployment, distribution and monetisation of decentralised applications and custom blockchains (sidechains) onto the Liskblockchain.
The inflation rate is 5 Lisk per block, which gets lowered by 1 every year unitl it reaches a stable block reward of 1 Lisk per block. Lisk is a cryptocurrency and its token is called LSK. To send LSK from one account to another takes 10 seconds, after about 1-2 minutes the transaction can be deemed immutable. A framework. The Lisk app SDK is a framework to deploy your own sidechains and develop blockchain applications on top of them.
Since the launch of Lisk, there has been a lot of confusion about what Lisk actually is. What will it enable people to do in the future? Lisk is a decentralised network such as Bitcoin, Nxt, or Bitshares. Lisk uses a simplified implementation of BitShares’ original consensus algorithm called Delegated Proof of Stake. This means that every LSK holder can vote for mainchain delegates which are securing the network.
The Lisk app SDK enables you to deploy a sidechain to Lisk. This sidechain is a fully customisable blockchain, free of pollution or spam on the mainchain or other sidechains. All parameters, specifications and transaction types can be changed to perfectly fit to your blockchain application. To prevent spam on a blockchain, there is always a token of value which is required to save any data on the blockchaineg a fee to send transactions. You can either use the LSK tokens from the mainchain or an entirely new custom token. If you use the mainchain LSK tokens, it is good to know that you can’t simply transfer tokens between different blockchains. Also, you cannot send Litecoin to the Bitcoin network. There is a special transaction type to transfer LSK tokens from the mainchain to the sidechain.