Lisk (LSK) is a decentralized blockchain for Java developers. Specifically to build apps on top of the network in the form of sidechains- this offers a new way of more reliable setting technology without affecting the main chain.
For you to understand sidechains, just put it simply as a method that protects the main chain to stay secure. One of the features of LSK is that it allows the individuals and companies, the ability to build on the blockchain without having to start their own cryptocurrency driven network.
What problem does LSK solve?
According to crypto experts, it’s a good thing since it saves LSK users from hassles and expensive promotions as they want to gather miners to be in their cryptocurrency. With Lisk, developers can only make apps with ease. It was created and launched in 2016 by Max Kordek and Olivier Beddows.
How do LSK works?
LSK uses a blockchain technology to make sidechains, where the user can build apps. It’s a currency where apps can be created and made. It makes the world of applications more decentralized and more connected throughout the world. At the same time, Lisk allows the deployment of blockchains in sidechains. Thus every developer can build the blockchain application or service on top of it.
The blockchain applications at LSK is comparable to a database on which you are saving all the data, which is being accumulated by your app and because the user’s blockchain app can be secured by a multitude of nodes makes it more decentralized. Nodes, by the way, is a data communication equipment.
LSK allows a lot of different types of applications. Users can have financial, social, and sharing economy apps and games. There will be a lot of people who are running those applications in a decentralized manner; it means that it can’t be shut down by any company or by the government.