1 Level
41 Review
50 Karma
Review on Lisk by Arun Kaul
Blockchain Application Platform - Lisk
Unlike Bitcoin, the Lisk blockchain cannot be used to procure goods and services at the moment until wide adoption by programmers, developers, startups and other crypto fans is achieved.
Nevertheless, the use of developer-friendly JavaScript may attract tech giants like Google and Microsoft on their network resulting in a boost in its value.
Lisk founders Max Kordek and Oliver Beddows set out to create a vision to make Blockchain technology more accessible.
Normally, for an individual to come up with a decentralized app, he/she would be required first to hire a developer who would then start the coding process for the Blockchain platform and then go ahead with Dapp creation.
Lisk’s blockchain network provides you with an independent blockchain so you can go straight to app development.
Its digital token (LSK) was created as a way to crowdfund the project during the ICO period, but it is currently used to cater for the expenses incurred within the community.
If you aren’t averse to risk-taking and strongly knows the nitty-gritty of cryptocurrency trading then holding a few amounts of Lisk can be a very profitable venture in the long run.
Pros
- Independently operating side chains – allowing side chains to run on their own gives developers and companies an opportunity to customize the apps to their exact requirements. Failure in any of the side chains doesn’t affect the main chain.
- Open source network – this means you can take a look at what other developers are working on and use the borrowed insight to improve your own Dapp.
- High volume transaction and faster processing – the beauty of Lisk is that side chains run independently leaving the main chain active to pursue other functions. This results in high volume transactions being carried out in a short time span.
Cons
- Less adoption – at the moment of this writing, the only well-known company that has partnered with Lisk is Microsoft Azure.
- Basic programming required to run operations – Ethereum is quite easy to use and allows users to write an app in a language they understand best. For Lisk, the language used is strictly JavaScript, and individuals need to have some basic programming skills to run operations.
- Less vibrant marketing efforts – bigger cryptocurrencies are making a lot of noise on social media sites like Slack, Twitter, and Telegram. Lisk as well needs to up their game by creating some buzz that will eventually expand its community.
