Lisk also acts as a decentralized payment system & money network. It was forged from Crypti and not Ethereum as is widely believed. The crytocurrency was designed using the Delegated Proof of Stake (DPoS) algorithm. The top 101 delegates are responsible for forging and security of the network.
The Framework, Lisk (LSK)
The framework of Lisk (Lisk App SDK) allows users create sidechains and develop fully decentralized blockchains on each of them. A sidechain is a fully functional blockchain existing independently of others. Users are given the opportunity of defining what their sidechains look like. All transactions on all sidechains are made using Lisk’s own cryptocurrency.
The Currency, LSK
The cryptocurrency of Lisk is denoted by LSK. Its tokens are used to perform quick transactions, it takes 10 seconds to transfer LSK coins from one account to another. The transaction cannot be changed 1-2 minutes after the transaction is completed.
Price Levels and Buying Lisk (LSK)
As at the time of this writing, the LSK coin is trading around $24 apiece. Lisk sits comfortably at the 14th position in the cryptocurrency ranking with a market capitalization of $2.85 Billion (USD).
There are different ways to purchase most cryptocurrencies, for this article we would be looking at the easiest method of acquiring the Lisk coins. Before trading, always check the ETH/LSK exchange rates. Exchange rates can be found here.
To purchase LSK coins;
Download and install the Lisk wallet for PC.
Register and confirm your Lisk account.
Copy your personal wallet address (you will be needing it for transactions).
Purchase the Ether for atomic swap (We recommend that you use Coinbase for this process).
Create and confirm your Binance account,
Navigate to Funds>Deposit Withdrawals, there you would have to select an atomic swap between the Ether and LSK.
Once the LSK is available in your Binance account, you can now use your wallet address to transfer the LSK coins to your wallet.
Rebranding of Lisk (LSK)
Max Kordek and his team will unveil the new direction for the digital asset at the Lisk Rebranding Meetup Conference scheduled for February 20th in Berlin, Germany. A graphic illustration of the planned project for 2018 is found below.
The rebranding is bringing a major change to Lisk, the Lisk JS, and implementation of the Blockchain Application Platform. It looks to focus greatly on building an improving its scientific team in 2018.
As the first modular cryptocurrency, Lisk (LSK) has achieved quite a lot since its stable launch in August 2017. If properly implemented, the rebranding may just be the turnaround point for Lisk (LSK).