What is Lisk (LSK)?
Future of LSK Cryptocurrency and know how to buy LSK

#1 – What is Lisk?

Lisk: The Basics

Aiming to make the Blockchain technology more accessible, Lisk is an open source decentralized app and sidechain development platform.

1. On Lisk, developers get a fair share of attention as well as revenues unlike the popular centralized platforms Google Play Store and Apple App Store.
2. It is easier for developers to use, since the apps can be developed in Javascript, the most popular language around.
3. LSK, or Lisk coin, is the currency associated with Lisk, used primarily in the DApps on the Lisk main chain itself. Unlike Bitcoin and others, it is not a digital currency that merchants will accept as payment, but rather a currency for developers using or wishing to use the platform.

Lisk Development

Lisk has its origins in Crypti, an open source blockchain app platform which couldn’t really achieve its founders’ goals without the right amount of firepower. Max Kordek and Oliver Beddows eventually implemented a hard fork in Crypti in 2016, giving rise to Lisk as we know it today. The Lisk Team consists of around 40 employees in total, dedicated to the goal of bringing blockchain development to the public.

#2 – What are the advantages of Lisk?

Lisk Technology

1. Lisk is a decentralized app development platform which allows developers to create apps in the Javascript language, making it accessible to the public.
2. It uses the concept of sidechains and a complete Software Development Kit (SDK) to allow developers to produce DApps and separate blockchains under the main Lisk platform.
3. Sidechains are independent blockchains which are linked to the main blockchain in such a way that they do not hurt or modify its speed and performance. This makes the apps truly decentralized and independent entities within the Lisk blockchain.

#3 – How to buy and store Lisk coins?

How to buy Lisk coins (LSK)

There are around 15-20 exchanges through which you can trade cryptocurrency like Bitcoin and Ethereum for LSK tokens. Since the Lisk cryptocurrency is relatively new in the market, it’s difficult to find exchanges which would accept fiat coins for Lisk coins.

Major exchanges supporting buying of Lisk cryptocoin include Binance, Bittrex, HitBTC and Coinroom, and some exchanges which accept fiat coins for the same include BitBay (USD, EUR), Exrates (USD) and Coinroom (EUR, GBP).

1. Of course, you could save yourself the trouble of searching and trying to gauge which platform is best, if you just use CoinSwitch, best cryptocurrency exchange. It shows you the prices of LSK tokens on various exchanges, at one place to help you make your decision. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
2. What’s more - with CoinSwitch you do not rely on a separate wallet from the exchange to store your Lisk coin. Instead, all transactions happen to and from your own personal private wallets.

LSK Storage

The best wallet for your Lisk coins, perhaps, is its own walled (Lisk wallet). It’s a desktop wallet, compatible with Windows, Mac and Linux. There is a web version available of the Lisk wallet, though it’s not the most popular among investors.

Using the wallet is fairly simple.

1. First, download and install the wallet from the Lisk website.
2. Open the wallet and create a Lisk account.
3. Obtain the secret passphrase and store it in a safe place: this is very important, as if you lose this passphrase, you may lose your LSK tokens.
4. You can now login and store LSK coins on the wallet!

#4 – What is the future of Lisk?

Market Cap and Global Acceptance

Like Bitcoin and others, Lisk is a cryptocurrency which can be mined. Unlike Bitcoin, however, it works on a proof-of-stake consensus system[3], so mining it is different from mining Bitcoins. It also has no maximum number, unlike Bitcoin, of which only 21 million will ever exist.

The circulating supply, as of June 2018, is about 107 million tokens, and the market cap is close to 708 million USD, inching closer every day towards $1 billion.

Price History

Trends so far

1. The price of a single LSK token, which was around $ 2 when it was launched in April 2016, dropped to a low of about $ 0.1 in March 2017 before rising. It reached a peak of around $ 35 in Jan-Feb 2018, and has dropped again so that its price as of June 2018 is at $ 6.95.
2. Although not as old or established as Bitcoin, Lisk still has quite a high ranking when it comes to market cap, standing at 25 as of June 2018, globally.
3. With its user-friendly development interface and accessible coding language, Lisk is bound to show only an upward trend in the future.

#5 – How is Lisk Different from other cryptocurrencies?

1. Lisk is unique primarily because it brings blockchain app development to regular developers, without asking them to learn a special new language just to use the platform. Javascript is the language most popular apps, and the web itself run on, so most developers have knowledge of it. Unlike Ethereum, which requires its developers to learn its special language Solidity or Bitcoin which runs primarily on C++, this is much more accessible to developers looking to create apps on a decentralized network.
2. Another problem the Lisk platform solves is one of scalability. Since the sidechains formed while the apps are developed are independent of the main chain, any problems with an application’s blockchain would not cause a hard fork on Lisk’s main chain.

#6 – Should you invest in Lisk?

1. Since its launch in 2016, the Lisk cryptocurrency has certainly climbed the metaphorical growth ladder rapidly. Its interface and accessibility are what make it extremely popular among developers, and it has an excellent reward system as well. The trends of Lisk Coin have shown ups and downs like any coin, and it’s currently at a lower cost than usual, but it is sure to show an increase and give good returns in the future.
2. Of course, it doesn’t hurt that Lisk has integrated itself into several industries like real estate, music, etc. by partnering with platforms like Rencoin.io, Mandana.io, Brikbito.io, and Moosecoin.io. It also shows great promise owing to the fact that it allows developers to create their own ICOs.