Understand exactly what is LSK (Lisk)? In our time, we have the App Store and Play Store. Both are central solutions owned by two central application companies. But Lisk seeks to build a decentralized future. In order to achieve this. Lisk is working hard to make Blockchain technology accessible to everyone. By building a Blockchain application platform available both to users and developers.
A simplified explanation of what LSK (Lisk)
On May 24, 2016 Lisk Blockchain started its own encrypted currency called LSK. Since then, Lisk has worked hard with its contractors to launch their Software Development Kit (SDK).
The possibilities are endless, such as developing platform independent social networks, games and so on. All this on your Blockchain network. Which includes the appropriate Token token, is completely decentralized. Without the hassle of complex algorithms or protocols but peer-to-peer networks.
clarify more, we will list some points
Lisk is a decentralized network such as Bitcoin, Nxt, or BitShares. Lisk does not use a Proof of Work algorithm such as Bitcoin, nor Proof of Stake, such as Nxt. But use the so-called Delegated Proof of Stake.
Lisk is an cryptocurrency called LSK. Sending LSK from one account to another takes 10 seconds. After about a minute to two minutes the transaction can be considered unchangeable.
In the previous section, I read that the Lisk SDK allows you to publish Sidechain on Lisk. Where all specifications, transactions and transaction types can be changed to perfectly fit your blockchain application.
Blockchain Application Platform
The most interesting part for Lisk users is being a Blockchain application platform. The Lisk SDK application only allows deployment of Sidechains; it also provides all the tools needed to develop a Blocking application. Blocking is not just a text application that works in a decentralized and unreliable way. It is much stronger.
Blockchain services platform
Blockchain services are a subset of Blockchain applications. It allows you to do something very specific.
Guide to decentralized applications
With Lisk not only available network, ecosystem, decentralized blockchain applications. But also a decentralized guide to applications that everyone can access. All blockchain applications and services built on the Lisk platform must be registered on the mainchain main chain for Lisk. This way a link between mainchain and Sidechain is created and the application directory can find all the applications and services of the blockin.
Market is decentralized and public
Lisk Marketplace is a way to link developers to Blockchain applications and Sidechain delegates. This is necessary, because each Sidechain is an independent blocin requiring a special set of insurance contract.