Although Lisk (LSK) has been dropping for some time now, we can’t miss on thinking about all the great things this currency has to offer for its investors. Even though LSK is currently being traded in the red at this moment, it is more than evident that the majority of currencies are dropping and suffering from losses as well. That is how we decided to list all the things that make Lisk one of the top players in the world of cryptocurrencies. That should at the same time remind us that a crypto isn’t always about the highest price, even though that counts as well. Furthermore, Lisk is considered to be one of the top investments currently available on the market, so we’ve decided to list all the things that make Lisk unique in the world of hundreds of cryptos.
Lisk as a Fork
It all happened when Max Kordek and Oliver Beddows took the control over Lisk, which was a new product forked from what was currently known as Crypti. Before Lisk, there was Crypti; however, in 2016, Lisk was created as a fork derived from this project.
Ever since, the team has been working on creating a blockchain-based open-source platform that will allow users to easily create and deploy decentralized applications, which Lisk now represents.
According to the dev team behind this project, their main objective while preparing LSK to get launched as an ICO while also working on perfecting the platform was to create a digital asset with a digital blockchain environment that could pose a challenge to Ethereum, given the fact that Ethereum is still considered to be the leading platform when it comes to smart contract operations and Dapp deployment.
What is maybe the most interesting thing about the statement that Lisk is aiming to pose a challenge to the second-best cryptocurrencies to currently exist, is the fact that later on in 2018, the former CEO of Ethereum along with another ETH member joined to the team behind Lisk.
Lisk’s Partnership with Microsoft
What many do not know is that Lisk partnered up with Microsoft way back in 2016. Basically, there are a few good ways of sky-rocketing a currency, but if you are looking for the best way, partnering up with a corporate giant is surely one of them.
The partnership between the two was made in order for Microsoft to a get a blockchain-based protocol that would be able to power up Azure Program by using a blockchain solution, Azure Cloud.
That being said, Lisk had a lot to gain from this partnership as now this platform had a more scalable solution for creating decentralized applications.
The only thing needed in order to create any type of decentralized application was to gain the access to Azure cloud computing network that was powered up by Microsoft’s technology.
Moreover, Lisk users were also able to use customizable blockchains, join the Internet of Things and create different Dapps in a simplified way.
Lisk Found a Way of Dealing with Slow Network Time
What many developers and crypto enthusiasts, and even laymen, noticed when it came to the way blockchain platforms work, they all noticed one thing while observing major, much older currencies, such as Ethereum and Bitcoin. Apparently, these currencies with their platforms and operating blockchains had issues with network bloating.
That means that the network time would get much slower over time during the increased traffic on a given blockchain network.
The most often issue with bloating networks usually occurs due to having many transactions on a single blockchain network, being processed at the same time. That is how the network gets “jammed” and as a consequence also slower in performance, which is what nobody wants to get from a decentralized blockchain-operated ecosystem.
That is how Lisk dev team decided to learn on other cryptos’ mistakes, and as a consequence, we were introduced to side chains. Side chains are a fantastic way of solving the issue of bloated networks.
That is the case because, due to the existence of side chains, the records of processing transactions don’t have to be kept on the main chain of a blockchain network, while side chains would take over that role instead. This way, the problem of having slow network time is completely resolved and diminished in the core of the problem.
At the same time, that is how Lisk is holding an advantage in oppose to similar networks.
Lisk Hub and Lisk
Last, but not the least, Lisk can be proud of the newly developed update for Lisk. This time with the new update, all users will be able to enjoy a smoother user experience. That is because the dev team behind this currency and its platform has decided to change the interface for improved functionality, that way making the interface more user-friendly.
However, what is most important in this story is that the newly updated LiskHub has some amazing features that will in many ways improve the overall experience of LSK users. Some of the features mentioned include lock ID and account initialization, but the list of features doesn’t stop there.
How is Lisk doing at the Current Moment?
Ranked as number 21st, just a spot away from getting to the list of top 20 best cryptos, Lisk is currently being traded in the red.
Along with the majority of other digital assets, LSK is dropping in its price on April 6th. After the most recent change in the market that happened in the last 24 hours, Lisk has made a drop of -1% against the dollar.
In addition to dropping against the dollar, LSK is raising against BTC by 1.16%, which means that Bitcoin is going through more serious losses when compared to how well LSK is doing at this moment.
At the current moment, LSK can be bought at the price of 7.91$ per one unit.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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