Review on Lisk by Fanuel PORPORTY
Lisk, building decentralized applications becomes easier
Lisk (LSK) is a competing blockchain of Ethereum that was created by former Ethereum members: Max Kordek and Olivier Beddows. This blockchain offers many applications such as the creation of dApps (decentralized applications).
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Developers can build, publish, share and monetize their dApps (decentralized applications) on the Lisk blockchain. These are developed with JavaScript code and that's what makes all the difference with Ethereum dApps. To build dApps on Ethereum, you have to learn a new language created especially for the occasion: Solidity. But the latter is complicated and tedious to learn. The Lisk project could take advantage of this to get out of the game given that hundreds of thousands of developers already master Javascript and could easily work on the creation of decentralized applications on the Lisk blockchainEach decentralized application (dApp) runs on its own sidechain. In other words, these applications are not integrated into the Lisk blockchain but revolve around it. Lisk's main blockchain will therefore not be directly impacted by sidechains. Sidechains are therefore autonomous blockchains which are dissociated from the main Lisk blockchain, which will allow the Lisk blockchain to carry out operations more quickly.
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The specifics of Lisk sidechains can be adapted and optimized according to the needs of a blockchain. If a hardfork is necessary due to a bug discovered in the sidechain, only the latter should be modified. There will therefore be no impact on the mainchain and the other sidechains. It should also be noted that it is possible for developers to sell their dApps on the Lisk dApp Store.
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Pros
- Uses an existing language (JavaScript), which simplifies the work of developers
- Attractive rewards for minors
- Based on a Proof-of-Stake consensus which is much less energy consuming than the Proof-of-Work used by Bitcoin and Ethereum
Cons
- Major competitors: Ethereum and Stratis
- Risk that a small part of LSK holders control the delegates because they own the majority of tokens
- Complex operation to understand
