The Lisk project does things differently when compared with some other cryptocurrencies. So, we decided to outline the differences and gather a few resources which we think could benefit you as you dive deeper into the world of sidechains.
The Lisk project is based on the Delegated Proof of Stake or also known as DPoS consensus mechanism. The BitShares team has created this type of method of consensus. The block time is 10 seconds, where newly created blocks are broadcasted to the network, as well as added to the blockchain. After 6 to 10 confirmations, a block, along with its transactions, can also be considered as confirmed.
There are a few things which make Lisk stand out from the crowd, and the most significant one is its use of sidechains. With the usage of Lisk for creating a blockchain application, that application will get its sidechain rather than run on the same chain as the other apps do.
Most of the cryptocurrencies which provide the ability to deploy smart contracts or decentralized applications do that on the main chain. It is the same chain which the application for currency is on. The way in which Lisk uses sidechain fundamentally changes that concept.
Ethereum was the cryptocurrency which first revolutionized the field of smart contracts and decentralized applications. Those same capabilities are now being added to Bitcoin, as other similar technologies are also being pushed into the core protocol and also developed externally to connect with the Bitcoin blockchain.
When compared to some other Proof – of – Work-based cryptocurrencies, the way of generating Lisk is also different. After that, rather than mining the currency, the LSK will also be caused by the top 101 delegates.
The community votes the delegates and changes anytime, based on the votes. The 101 delegates (nodes) will be reward with LSK about confirming transactions, as well as for securing the networks sidechains.
– Lisk Academy
The Lisk Academy initiative was started to introduce more people to the project. The team behind Lisk is trying to add the concept of blockchain technology, sidechains and decentralization to the masses, rather than promoting Lisk as another type of cryptocurrency.
In this academy, you will get nice tutorials on everything from how to create your first wallet to how to add SSL certificates to your very own sidechain and blockchain application.
Lisk Support Desk and FAQ
If you have some fundamental questions about Lisk and the web wallet, you can turn to the Zendesk powered Lisk support and FAQ. They are going to help you answer some questions such as:
I lost my passphrase to my LISK, what should I do?” or “I cannot validate my passphrase, can you help me please?
Lisk Documentation and Whitepaper
The documentation and whitepaper of Lisk is a great resource for those that want to get a deeper understanding of the project.
Official Lisk Documentation
With the help of the official Lisk documentation, you can get a deeper understanding of the core functions, as well as philosophies which underpin Lisk. A must read for those people that want to get an in-depth knowledge of the project, and maybe later build blockchain applications on the sidechain infrastructure of Lisk.
The Lisk Whitepaper
The Lisk whitepaper explains the underlying technical foundation of the Lisk core.
Useful Lisk tools:
Lisk Block Explorer
The Lisk blockchain explorer is similar to the once found for Bitcoin, and any other cryptocurrency out there. Additionally, a block explorer is a tool which is essential for any cryptocurrency, and it is the place where we can monitor all blocks and public transactions within the distributed ledger.
The Activity Graph is a live graphical visualization of the Lisk blockchain. When opened, the latest block in the chain is visualized. Then, subsequent blocks are added to the graph as the network forges them.
The chart can also handle about 20 blocks before it is automatically reset to the current height of the block and start the process from the beginning again.
On this Network Monitor, you can spectate some useful information about the Lisk network. Some data of the latest block, best block, the volume of Lisk is transferred within the last 24 hours and peers connected to the network and their location and what operating system they are running.
Lisk Delegates Monitor
With this, you can monitor delegates (nodes) which are confirming transactions securing the network and its side chains.
Stay up – to – date with the latest news:
Official Lisk Blog
This one is a great place for staying up to date with the latest news, which surrounds the core project and its development progress.
/r/Lisk/ is the official subreddit for the project. Here, you can share and find the latest news, as well as information and video links which concern Lisk.
/r/Delegates/ is the place to share, as well as discuss Lisk delegates (nodes).
If you are into trading and you want to discuss the trades or stay on top of the latest Lisk news which can impact the price of Lisk, than /r/LSKtrader/ is the right place for you.
– Official Lisk Chat Room
The official Lisk chat is an excellent place for starting a connection with other people in the community.
– Official Lisk Forum
A great place to ask in-depth questions.
– Lisk Price
If you want to get the current price of Lisk, Coingecko provides an index which is based on the average price across all exchanges trading Lisk.