Review on Lisk by Huseyn Akberov

Hi everyone. Today I will explain you how the Lisk platform works. Let's start the lecture.

Lisk is a cryptocurrency designed to serve as a platform for decentralized applications (dapps), special programs designed to run on a network of computers running shareware.

The purpose of this project is to allow developers to transfer skills faster to build dapps, because it allows them to write programs in Javascript and Typecript languages, both of which are widely used in general web development.

However, Lisk allows developers to create custom dapps and cryptocurrencies through so-called "side chains" (a unique blockchain that runs within the Lisk network). These side chains are associated with the Lisk blockchain and can be customized to meet the needs of Lisk dapp.

Because these blockchains are Lisk compatible, developers can use the project's software development kit, scrambling library and its encryption currency LSK and other resources.

The cryptocurrency that powers the Lisk blockchain LSK needs to pay the cost of key operations and vote on proposed updates to software rules.

Lisk Software Development Kit (SDK) is used to create decentralized applications (dapps) compatible with Lisk Core.

In order to protect its blockchain and keep its distributed computer network synchronized, Lisk uses a consensus system called Delegated Proof of Stake (DPoS).

DPoS uses a real-time voting system to determine which computers running the software can create the next block in the Lisk blockchain. This means that anyone with an LSK can help run the network.

Each LSK chip can be blocked or “bet” to represent the vote. All LSK owners then vote for 101 active representatives who are responsible for creating blocks.

There are a total of 101 blocks in each cycle and there are approximately 10 seconds between each new block. Each block cycle is approximately every 16 minutes.

In order to propose and add a new block to the Lisk blockchain, active representatives will receive the total transaction fee of the block and its reward (paid in LSK cryptocurrency).

Active representatives can also choose the percentage of LSK they receive to distribute to users who voted for them as active representatives to further motivate voters.

In conclusion, I think the Lisk platform is useful. But it needs some updates, new features for staying in competition. Thanks for reading my review.