Lisk: An Open-Source Blockchain for DApps

What Is Lisk?

Lisk is an open-source blockchain platform powered by LSK tokens, allowing developers to write decentralised applications (DApps) using the JavaScript language. The project aims to permit developers to transfer skills more rapidly to create DApps. It will enable them to write applications using the Javascript and Typescript languages, widely used in general web development. Lisk enables developers to create custom DApps and cryptocurrencies via “sidechains,” unique blockchains working within the Lisk network. These sidechains are connected to the Lisk blockchain and are customisable to gratify the requirements of Lisk DApps.

Lisk Recent Improvements

• Defining a cross-chain messaging protocol
• Defining sidechain registration and lifecycle
• Introducing token standards for the Lisk ecosystem
• Introducing an alternative validator selection mechanism for sidechains
• Enhancing signature scheme
• Defining state model and state root
• Updating Lisk-BFT for interoperability
• Updating block header format

How Does Lisk Work?

The principal software implementation for the network, Lisk Core, drives the protocol’s rules, holding the computers that run it in sync and functioning efficiently. The Lisk Software Development Kit (SDK) is used to make decentralised applications (DApps) agreeable to Lisk Core. 

The SDK includes three elements:

• Lisk Framework – which facilitates intercommunications among the modules of some DApps
• Lisk Elements – a collection of specific codes libraries
• Lisk Commander – to allow users to interact with the blockchain

Lisk and Delegated Proof-of-Stake (DPoS)

To ensure its blockchain and maintain its distributed network of computers in sync, Lisk works with Delegated Proof-of-Stake (DPoS), so it is a consensus system. Computers operating the software can produce the following block on the Lisk blockchain, which DPoS leverages a real-time voting system to determine. It means anyone who can help operate the network owns LSK (the native token of the Lisk network). To represent a vote, the users need to lock or stake each LSK token. All owners who stake LSK are responsible for creating blocks and voting for 101 active delegates. There is a result of 101 blocks per cycle, with almost 10 seconds among each unique block. Each block cycle is about every 16 minutes.

How To Receive Rewards in Lisk Platform?

Active delegates who propose and add new blocks to the Lisk blockchain receive the block’s total transaction fees and rewards (LSK token). Progressive nominees can also choose what percentage of the LSK they receive to distribute to users who voted for them as active delegates, further incentivising the voters.

Lisk Financial Analysis

Lisk's price today, on Oct 12, 2021, is $3.06, with a 24-hour trading volume of $37,736,142, i.e., LSK price is down -7.1% in the last 24 hours. Lisk token (LSK) has a circulating supply of 140 Million LSK coins. Lisk's ROI with 176% in a year underperformed in the Smart Contract Platform category, which had a 778% growth over the past year. It's underperformed the crypto market, which had 13938% growth over the previous year. To track Lisk’s Return On Investment (ROI), check out Cryptologi.st analysis.

Lisk Price and Market Cap Stats

Financial data from Cryptologi.st charts indicate that Lisk's ranking among the markets' cryptocurrencies in terms of market capitalisation decreased over the last months, from #111 to #158. Also, its price saw a similar trend, declining from $6.65 to $3.23 today on Oct 12, 2021. However, its liquidity score is 49% under the market's average score, which means it would be difficult to sell the Lisk tokens if the market is falling.

Disclaimer: Don’t take this article as financial advice. You need to DYOR (Do Your Own Research) before investment.

Lisk Price Prediction

If you hesitate about choosing the most profitable crypto projects, this section is for you. Here, we will provide the opinion of crypto experts about the future price of Lisk based on its performance and potential. It’s needless to say that these are only predictions and no financial advice. To get financial advice, you need to consult an advisor.

Lisk Price Prediction for 2022

Crypto experts predict that in 2022 the price of Lisk can reach a minimum of $2.71. The maximum price of LSK can reach $3.20. Its average trading price can revolve around $2.79.

Lisk Price Prediction for 2023

The price of each Lisk token (LSK) is expected to reach a minimum of $4.08 and a maximum of $4.68, with an average price of $4.22 throughout 2023.

Lisk Price Prediction for 2024

In 2024, the price of Lisk has the potential to reach a maximum of $7.06. But at the minimum level, it can be traded at $5.80, with an average trading price of $6.02.

Lisk Price Prediction for 2025

The price of the Lisk token is expected to go down to $8.50 in 2025. The LSK price can hit a maximum of $10.25, with an average price of $8.74.

Lisk Roadmap

Lisk’s roadmap is split into five general areas: Inception, Resilience, Expansion, Ascent, and Eternity, or as Lisk puts it, it includes six steps called Quartz, Amber, Ruby, Emerald, Sapphire, Diamond. Currently, Lisk is working on the Sapphire phase, which focuses on communication properties and transformative energy. This step accents interoperability by further developing the protocols toward achieving communication between different Lisk blockchains. The following image visualises the Lisk roadmap.

Lisk Popularity

A capable marketing team and brand awareness directly impact the success of any project. According to Cryptologi.st popularity data, Lisk's Twitter account saw an increase of 1% in the number of followers over the months from May 16 until Oct 12, 2021. Moreover, its Reddit channel users went up by 2% over the same period.

Some Juicy Decentralised Projects like lisk!

Are you a decentralisation enthusiast who looks for decentralised projects to invest in? Well, you need to look no more since we have made a list of the valuable decentralised projects in crypto. Take a look at the following list, check out the detailed reviews, and invest confidently.

• Cudos Coin
• Dash Diamond
• Crabada
• Solve.Care
• StarLink
• GameSwap
• Axelar
• Talken

Is Lisk (LSK) A Good Investment?

Lisk is a straightforward project with not much complexity; it works on blockchain and focuses on DApps. However, its liquidity score and market cap rank show that it may not be a good choice for short-term investors. You need to give it time and reap some rewards in the long run. All in all, Cryptologi.st is not a financial advisor, but it’s here to help you make smarter financial decisions by facilitating the process of comparing hundreds of coins.