How to Buy Lisk

The ultimate beginner's guide to trading Lisk

What is Lisk Coin?

Lisk coin (LSK) is one of the 100,000,000 tokens that act as currency on the forthcoming Lisk network. The Lisk coins are bought and sold on many crypto exchanges, with a steadily increasing Lisk price. Lisk coin acts as the currency of the Lisk blockchain. The Lisk blockchain (when they release their Main Network and Software Developer Kit in Q1) will be a place where developers can easily build Dapps and smart contracts. Lisk coin will be used for many Dapps, and for paying for transactions of more general types on the Lisk network. Lisk coin can also be traded against other cryptocurrencies on crypto exchanges around the web.

What Are Smart Contracts and Dapps?

A Smart Contract is an algorithm that performs a specific function on the blockchain, without any human intervention once deployed. Smart contracts are most well known from the Ethereum blockchain which popularized them. Dapps (decentralized apps) are any sort of application (like Paypal, Facebook, or LinkedIn), only build using Smart Contracts. There are already many of these which already exist on Ethereum and other blockchains.

Why Is Lisk Different?

One of the main problems with Ethereum’s smart contract model, is that all smart contracts operate on the main Ethereum chain, often slowing down the network. For Ethereum to grow to meet demand, it’ll have to find a way to scale its blockchain. Lisk will use Sidechains. When a Lisk user uses Lisk coin to issue a new token or create a new Dapp, the new algorithms will function on a Sidechain, which is linked to the main Lisk chain, but which doesn’t tap into Lisk’s resources very often at all. This means that no matter how many Dapps are created through Lisk, there won’t be dramatic strain on the network. Blockchains like Bitcoin and Ethereum are creating “second layer” solutions like Lightning and Raiden to try to perform the same function. Lisk also differs from Ethereum in that they allow programmers to use Java Script, a well known programming language, rather than forcing them to learn Solidity, the proprietary programming language of Ethereum. This could promote fast developer adoption.

The Benefits of Proof of Stake

One major selling point of Lisk is their Delegated Proof of Stake governance model. Not only does voting for a delegate help you raise your voice on the future of Lisk, these delegates are the only people who can “Forge” new Lisk coins (kind of like mining new Bitcoins). These coins are, in large part, distributed to their voters. You heard right; that’s free money.

Why Buy Lisk Coin?

Lisk has incredible promise and an amazing core developer team. It’s true that they haven’t released the networks upon which all future growth of the company will be based, but the Software Developer Kit and Main-Net are due in Q1 2018. The company is also due for a full rebranding on February 20, 2018, an evolutionary stage that may result in a large Lisk price increase, much as it did for ARK last year (ARK is a hard fork of Lisk with some major differences and use cases). So far, the Lisk team has been very active, responsive, and successful in deploying their technology. The big test is yet before us, but if we indeed see the changes they’ve promised in the next month or so, you can bet the Lisk price is going to soar. To learn more, search out a Lisk forum with Reddit or BitcoinTalk. Now we’ll show you how to buy Lisk and invest in Lisk.

Final Thoughts on Lisk

Lisk is one of the most solid projects in crypto. Their concept of push-button blockchain deployment and easy dapp development in Java Script is a compelling path forward. Their development team is solid and has proven their mettle up till this point. The field Lisk has entered is thickening. They remain the first mover in their specific niche, giving them an advantage. Do your own research to decide if you think Lisk is going to win the marathon. We think they’ve got a very, very good chance of doing so.