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Review on Lisk by Klaus Kuhn
Once the Crypti chain was forked, Kordek and Beddows decided to launch an…
Once the Crypti chain was forked, Kordek and Beddows decided to launch an initial coin offering, or ICO, to raise funds to further the development of the project. The ICO was a huge success, raising 14,000 Bitcoin, making it one of the most successful crowdfunded cryptocurrency projects to date. On May 24, 2016, Lisk’s LSK token went live and was made available for trading on many major exchanges.
Pros
- Scalability and Security – The sidechains of Lisk all perform their own transactions that will not interfere with other chains, including the mainnet. This protects against situations that have challenged the Ethereum network in the past. Buggy DApps built on Ethereum have been hacked (The DAO) and accidentally locked tokens (Parity Wallet). When the DAO was hacked because of security flaws, the Ethereum community controversially decided to fork its blockchain. The Parity wallet incident has not been dealt with. Millions of dollars in ETH is locked in a smart contract.
Cons
- JavaScript – This is more of a perceived disadvantage rather than an actual one. JavaScript is easy to pick up and use because it’s everywhere and that is why I included it in the ‘Simplicity’ advantages listed above, but some see it as a security threat. At the end of the day, if you write solid code, this shouldn’t be an issue.
