When one knows that one of the great difficulties to develop applications on blockchain is the lack of experts in the matter, this can only be a great advantage.
- The second advantage is its speed, better than Bitcoin or Ethereum for example. This is due to the use of the “side chain”, ie the applications are not stored in the Blockchain itself but gravitate around it, which implies that the load of the blocks has not impact on speed.
- The third advantage is that Bitcoin works on proof-of-work, or those who use the proof-of-stake (those who have the most money are decision-makers), Lisk uses “delegated proof-of-stake”: decisions are delegated to 101 nodes, elected by other minors, and can be rejected at any time if their work or decisions seem bad. This allows for greater efficiency in validating transactions.
LISK lends itself to the creation of a wide range of applications in all areas, and allows developers to do everything for applications on the same platform: concept, design, development, publication, monetization.
Disadvantages of the system
The disadvantage of this system lies in the questioning of decentralization and contract verification, which is not as complete as on Ethereum.
What are its potential customers of the Lisk system?
It is aimed at users who want to be able to do everything, they are the full customers.
The downloads are on the entire blockchain as “peer-to-peer”.
It is also aimed at thin clients who will have to connect to full clients.
1-The thin client is available on MacOS and Windows, and does not act as a network node.
2-The thin client does not need to download the blockchain which means that the application will take very little size.
- All data is signed locally on the local device. It does not send secret keys on the network.
To buy Lisk as for all virtual currencies you have to go through a broker, that is to say a site that will sell you cryptocurrencies against a payment by credit card or bank transfer.
Among them: Litebit, or Changelly
For Changelly you must first buy Bitcoins and then exchange them on the site.
You can also download the Lisk Freewallet application.
Conclusion: The future of Lisk
The future of Lisk depends mainly on the choice of developers who prefer the decentralization of Ethereum, for example, or the ease and speed of Lisk.
It is therefore a currency to be followed because it makes it possible to easily implement applications with simple language.