Lisk is a blockchain platform that aims to assist in the creation of decentralized applications (dApps) using JavaScript, which is one of the most widely-used programming languages. It is an open-source platform that was launched in 2016 by Max Kordek and Oliver Beddows. Lisk's primary goal is to address the Blockchain Trilemma by allowing developers to create applications using a language they are already familiar with. Lisk's architecture is unique because it employs sidechains, which are individual blockchains that operate within the Lisk network. This feature enables developers to create custom dApps and cryptocurrencies. These sidechains are linked to the Lisk mainchain, which improves scalability, flexibility, and efficiency in dApp development.
Lisk uses a Delegated Proof of Stake (DPoS) consensus mechanism, which involves electing 101 active delegates to validate transactions and forge blocks. This mechanism ensures decentralization and security within the network, with the cost of taking over the network being prohibitively high. Lisk has also incorporated Byzantine Fault Tolerance (BFT) into its consensus algorithm to guarantee block finalization and prevent reversions, ensuring that all nodes within the system can reach consensus on the chain state.
Developers can create scalable web3 applications using the Lisk SDK, which provides extensive customization and is compatible with the Lisk Protocol by default. Lisk's sidechain architecture allows each project to run on its separate blockchain, known as a sidechain, which is responsible for their blocks and transactions. This means that the entire ecosystem can scale appropriately without becoming strained, effectively addressing the blockchain trilemma.
Lisk's interoperability feature, which was showcased at the Lisk.js 2021 event, is a testament to the platform's commitment to advancing blockchain technology. It introduced a scalable and decentralized solution for the Lisk ecosystem, organized into eight roadmap objectives, each addressing a key aspect of the solution through Lisk Interoperability Proposals (LIPs). This feature allows for seamless communication between chains through a cross-chain messaging protocol and enables the creation of interoperable sidechains within the Lisk ecosystem.
LSK's has a total supply of 144,818,773. The current circulating supply of LSK is 128,900,445.
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