- Scales infinitely due to sidechains and the fact that these blockchains exist off of the Lisk main network (2)
- Very active development team
- Recently launched a new user interface
- Decentralized network
- Relatively fast transactions (2)
- Focus on UX to encourage mainstream adoption
- Steady mobile client (2)
- Uses Delegated Proof of Stake (DPoS)
- Critics say the project has stagnated – it has been two years since the ICO and the most important projects are moving forward but are being kept from public view
- Critics say that the sidechains will help in the short-term, but if there is mainstream adoption, a larger solution will be needed
Lisk allows their users to build their own separate blockchains, which is an alternative to other crypto projects that focus on a single blockchain. This means that Lisk relies heavily on sidechains to keep the Lisk main network running smoothly, without interruption. Through Lisk, you can host ICOs on your own blockchain and potentially build thousands of apps on your own blockchain – all running without interference of other DApps on other blockchains. If there are any issues with specific blockchains in the Lisk ecosystem, those issues will be restricted to that blockchain and will not affect the Lisk main network (1, 3).
Ethereum vs Lisk
Ethereum is probably the most similar blockchain project to Lisk by comparison. Ethereum is a smart contract platform, where you can develop scripts and upload the scripts to the blockchain for everyone to execute (3). Though there are many similarities between the two platforms, one major characteristic separates Lisk from Ethereum. With Lisk, you develop completely separate and specialized blockchains, independent from the Lisk main network, and register your blockchains on the main network. This also means that your blockchain is completely customizable. Everything, from types of transactions to voting rights, can be designed and function however you want (3).
If you would like to talk about Lisk, or any other cryptocurrencies, join us on our discord! https://discord.gg/Hr3EUH9
Contributed by Donné Torr.