There is no doubting that blockchain technology does a lot of things better than traditional technologies. However, transitioning from one type of technology that is commonly used by businesses, to another, is not always an easy task.
In order for any technology to take off in a widespread manner, it needs to be fairly simple for businesses to adopt. Unfortunately, most blockchain solutions can be fairly complicated to get started with, which hurts its ability to truly break out and become viable for companies looking to make the switch.
Despite this, there are a few blockchain platforms and cryptocurrencies that are hoping to make it easier for developers and companies to utilize and harness the power of blockchain. One of them is Lisk, and this article will take a look at who they are, how the platform works, and more.
What is Lisk?
Lisk is a cryptocurrency, framework and blockchain platform that has the goal of providing simple and streamlined blockchain development to developers who are new in the space. A more accessible development environment is needed if blockchain technology hopes to achieve widespread adoption, and Lisk is hoping to be the solution.
Users of Lisk will be able to develop and build their very own blockchains, dApps (decentralized applications) and sidechains, and have them built or designed any way they choose. They can build games, apps, messaging platforms or a wide variety of other projects. Of course, Lisk also created an SDK (software developer’s kit) to make it even easier for people if they don’t necessarily want to create their very own blockchain. However, Lisk claims their sidechains (which are essentially a personal blockchain to make apps or tokens) are not only easy to build, but also very easy to customize. These sidechains are also free of spam or other potential interference as they are personal to you.
The Tools of Lisk
In order to help new businesses and developers get started with blockchain, Lisk has a suite of several different tools that can help create, manage, customize and maintain their sidechains.
Lisk Commander is the command-line interface that people or businesses will use to program their applications. In the future, it will also help you to manage your sidechain as well.
Lisk Hub is basically your solution to managing your Lisk ID, as well as doing things like sending tokens and voting for delegates. In the future, it will also house a decentralized exchange, sidechain registration and even the ability to launch and hold your own ICO.
For very advanced technical users of Lisk, you have Lisk Core. It lets you access List’s main network blockchain data, secure the network infrastructure and more.
Lisk Elements is a collection of libraries (such as shared cryptography, API representation and others). This tool will be good for educating yourself about the inner workings of Lisk.
Lisk Nano is the old Lisk wallet that lets you access your Lisk ID. It provides a fairly minimal user interface, but features a lot of various functions, both for advanced users and beginners alike. Also, with Lisk Nano, there is no need for the synchronization of the blockchain as it connects directly to the Lisk network itself.
How To Create Your Own Blockchain With Lisk
Now that you know a little about Lisk and what they are trying to do, how do you create your own blockchain on the platform? Well, there are 4 main steps that go into building and deploying your very own app or blockchain through Lisk.
The first step is to create your own white label sidechain. You will be able to do this through the sidechain modules that will soon be available for Lisk Commander. Lisk Commander will assist you every step of the way and Lisk Elements and Lisk Core will also support the creation of the sidechain.
The second step is to customize your sidechain, and add a token. With Lisk, you are able to create your own token right in the Lisk Hub, without having to do even a single line of code. You can integrate this token to have a variety of functions in your sidechain, and all of that can be done effortlessly in Lisk Commander.
The third step is to turn the sidechain into an application. This will involve creating a great looking and functional interface that offers users a great experience. There are no restrictions on how you create your user interface, so there is a lot of freedom within the platform. There is a full stack of development tools for you to use at your disposal, as well.
And the fourth and final step is to test, deploy and advertise your application. While everything is essentially done by this point, you don’t want to forget to test the usability of your blockchain. Your app could be responsible for holding and using a ton of sensitive information, so you should take testing very seriously. Once it has been tested, make it available to the public and promote it to get some users.
LSK is the token that is used within the Lisk platform and ecosystem. In addition to fuelling List, LSK is also how developers will gain access and pay for the services within Lisk. They had their ICO way back in early 2016, and it was one of the most successful ever at the time, as they raised $5.7 million during the public token sale. It can be purchased on a number of different exchanges, but isn’t meant to be a digital currency, it simply holds function within Lisk or can be held as a standard investment like any other cryptocurrency.
The Team at Lisk
Lisk was co-founded by Max Kordek and Oliver Beddows. Kordek, who is also the President and CEO, has been immersed in crypto and blockchain for over a decade now. Beddows, who also serves as Vice President and CTO, has over a decade of experience in development under his belt. In addition to their leadership, the team features over 30 other employees in development, marketing, creative and operations.
Because the team had their ICO back in 2016, Lisk is fairly old and experienced in the cryptocurrency market. So not only do they have more experience than many other offerings, but they also have a pretty good product that solves a real problem in the industry.
Of course, no blockchain technology platform at this stage of the game is perfect, so expect some roadblocks from time to time. Either way, Lisk has the potential to make the blockchain adoption process simpler for developers in a variety of industries, which is something that is needed if blockchain technology hopes to be the standard in the future.