Can Lisk surpass its All-Time High by the year 2030?

What is Lisk(LSK)?

Lisk(LSK) is another blockchain application platform and a cryptocurrency to provide decentralized applications (DApps) platform. But there are certain factors that make it a bit different from other blockchain platforms. 

This crypto project aims to facilitate developers with transferring skills faster to build DApps. It allows them to write programs in two widely used languages in general web development, Javascript and Typescript languages. These developers can actually deploy their own sidechain, which is a unique blockchain operating in the Lisk network. This sidechain is linked to the Lisk mainchain.

These blockchains being reconcilable with the Lisk network, the developers can utilize resources from the project. For instance, their coding libraries, software development kits, and its cryptocurrency LSK. 

The backstory of Lisk Crypto

Lisk was founded in 2016 by Max Kordek and Oliver Beddows, and the cryptocurrency initially originated from Crypti as its fork. Crypti was a similar Javascript-based project started by Kordek and Beddows in 2014. 

The founders held an Initial Coin Offering(ICO) for LSK and raised 14,000 Bitcoin(BTC) in a sale that auctioned 85% of Lisk’s token supply. The remaining 15% of these LSK coins were distributed to key developers and stakeholders.

How can folks use LSK coins?

• LSK coin can be used as a governance token in the Lisk network. 
• The network uses it to power the DApps.
• It is mainly used as a cryptocurrency to pay for the network fees for varied transactions like registering or updating a DApp, sending or spending a coin. 
• LSK can be used within the DApps of developers who choose to create a Lisk sidechain, which allows the transfer and movement of tokens between the Lisk core and their blockchain. 
• Users can stake their LSK coins, allowing them to vote for the delegates creating new blocks.

The LSK coins that are minted are designed to be reduced from time to time, making the Lisk Crypto scarce increasing its value over time. 

How does the Lisk network work?

The Lisk Software Development Kit (SDK) is utilized to develop Decentralised Applications (DApps) that are reconcilable with the Lisk core. Lisk SDK has three components:

Lisk Elements: These are a set of coding libraries useful in blockchain development.

Lisk Framework: The main component contains essential blockchain modules and facilitates interactions between them.

Lisk Commander: This is a Command Line Interface tool facilitating users to interact with the blockchain. 

Lisk crypto uses a Delegated Proof-of-Stake (DPoS) consensus. DPoS leverages a real-time voting system to find which of the computers operating the software can create the next block on the Lisk Blockchain. Each LSK holder can vote up to 101 delegates, where their account balance determines the weight of the vote. These 101 delegates are the active delegates with the highest overall weight. The new blocks are proposed by these 101 delegates and then added to the Lisk Blockchain and verified by the computer nodes. Hence, anyone holding the LSK coins can contribute to operating the network. This consensus is based on BitShares DPoS consensus, and it is used in various other cryptocurrencies like Tron, Steem, EOS, etc. 

Lisk Vs. Ethereum

Algorithm: The significant difference between the two networks is the consensus used, Ethereum (ETH) uses the Proof-of-Work consensus, though it’s planning to shift to Proof-of-Stake. In contrast, Lisk uses the Delegated Proof-of-Stake(DPoS) consensus. 

Block Time: Lisk has a faster block time which is around 10 seconds, whereas the Ethereum network has a block time of around 15 seconds. 

Programming Language: The programming language used for DApps is Javascript in the case of Lisk, and that of Ethereum is solidity.

Price and Market Capitalisation: There is a massive difference in the two cryptocurrencies’ price and market cap. Ethereum is comparatively more popular, being the older cryptocurrency, and has a market capitalization at the time of writing, $327,720,232,900. Also, Lisk crypto is still young and underdeveloped in comparison to Ethereum.

What makes the Lisk crypto unique?

Accessibility: Lisk stands out due to its accessibility because of its Software Developer Kit written in Javascript. It has a vision that apart from the tech-savvy people, others would also have access to the crypto and Web 3.

Secure and Scalable: Lisk’s mainchain facilitates security and scalability. The sidechains provide flexibility. 

Survival in the Market: Lisk is one of the oldest crypto projects making it more reliable for those skeptical about the newly emerged projects.

Developers’ blockchain: Unlike some crypto projects, Lisk crypto does not rely on Smart contracts. Instead, the developers implement their blockchain applications on their own blockchain via the Lisk SDK. 

Where and How to Buy Lisk?

Lisk is widely available on most prominent exchanges like Binance, Kraken, Huobi, UpBit, Coincheck, BitBay, OKEx, BitFlyer, etc.

How to buy LSK:

• Choose the cryptocurrency exchange platform, depending upon your research and knowledge.
• Create an account, and clear the verification process.
• Make a deposit: Once your account is verified, you can deposit a certain amount of fiat currency using any of the available payment modes. 
• Purchase Lisk: You can now exchange your funds for Lisk. You can also withdraw your LSK in your personal wallet. 

The reliability of the cryptocurrency exchange you are using should be researched about thoroughly, if they have any specific requirements, and having the knowledge of market pairs available is also essential.  

Lisk Price Prediction for the future

At the time of writing, the Lisk coin (LSK) is trading at $1.72. It stands at the 195th position by market capitalization of $221,373,770. The Lisk coin witnessed its All-Time High in January 2018, reaching $39.31. 

The crypto industry is volatile and often witnesses price predictions from various entities. One such Lisk Price prediction was made by Wallet Investor, who predicts its value to reach around $6 in the next five years. Whereas PricePrediction thinks it might surpass its All-Time High by 2030, reaching a maximum value of around $49.85 and an average trading value of around $42.72. 

Although these various Lisk Price predictions would prove accurate or not will be something to look forward to. Because the Lisk Network has some unique features compared to other cryptocurrencies, it will be interesting to see if these factors will help the coin evolve more in the coming years.