What is Lisk?
Lisk's Products and Services
Lisk is made up of several products, including Lisk Core, Lisk Service, and the two wallets Lisk Desktop and Lisk Mobile.
Lisk Core - Enables delegate forging, provides blockchain synchronization, and includes the complete API for developers. Lisk Core is for advanced technical users looking to build on top of Lisk, securing the network infrastructure or attain delegate forging access.
Lisk Service - The main focus of Lisk Service is to provide data to the UI clients such as Lisk Desktop and Lisk Mobile. Lisk Service makes it possible to access all blockchain live data in a similar way to the regular Lisk SDK API, and in addition provides users with much more details and endpoints, such as geolocation and various statistics about network usage.
Lisk Desktop - Aside from sending all of the various types of network transactions, Lisk Desktop also has the ability to monitor network events. These include delegate forging statistics, top account holders, most recent transactions, and much more.
Lisk Mobile - Available for both iOS and Android. While it may not be as feature rich as its Lisk Desktop counterpart, it is a convenient addition for enhanced usability and convenience, as you can access your account anywhere you can take your mobile device.
For more detailed information, see the official Lisk SDK documentation.
The Role of the LSK Token
The native utility token for the Lisk network is LSK. It's used to perform a number of actions on the Lisk blockchain, including balance transfers, voting, registering multi-signature wallets and more. With the launch of Lisk interoperability, more functions will be possible. For example, a user will need to use LSK tokens to register their blockchain on the network.
The Blockchain Trilemma
The Blockchain Trilemma, originally coined by Vitalik Buterin, suggests that decentralized networks will struggle to provide more than two of these three benefits: decentralization, security, and scalability. Here's how Lisk approaches each.
Lisk is secured using a Delegated Proof of Stake (DPoS) consensus. 101 active + 2 stand-by delegates process transactions and validate blocks for the network. Having this number of delegates ensures the network is truly decentralized, with the cost of taking over the network far too great to be feasible.
Distributed blockchains must ensure that all nodes within the system can reach consensus on the chain state. For Lisk, this means that delegates must not only forge blocks, but also agree on the correct block at every height. To ensure this consensus, Lisk has incorporated Byzantine Fault Tolerance (BFT) to its consensus algorithm. This guarantees that blocks are eventually finalized and can never reverted.
As more projects are added to Lisk, more transactions will need to be processed. This is not an issue however, as these projects are each run on their own separate blockchain, known as a sidechain. Each sidechain is responsible for their own blocks and transactions, meaning the entire ecosystem can scale appropriately without becoming strained.
Where Should I Go Now?
- Need more general information about Lisk itself? Try Why Lisk
- Want more information on the uses of the LSK token? Go to What is the LSK token
- Looking for more general blockchain information? Check out What is Web3?
- Interested in the details on how Lisk plans to incorporate cross-chain communication? Read Lisk Interoperability