Uses of Lisk Cryptocurrency. Explained.

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Comprehending the uses of Lisk cryptocurrency.

Introduction

The cryptocurrency space is developing and expanding at unprecedented scales. According to statistics, there are almost more than 1500 variety of cryptocurrencies in the market, since the inception of Bitcoin in 2009. However, a number of cryptocurrencies automatically, implies competition for sustainment and the most dominant cryptocurrency with more number of real-world applications would undoubtedly thrive this race. Therefore many cryptocurrencies have been left behind. According to statistics, there are more than 400 currencies which have become absolutely dead with absolutely zero market capital. But on the contrary, lisk cryptocurrency is one of the most successful cryptocurrencies of this era.

Crowdfunding

Lisk started to collect funds in the form of Initial Coin Offering in February 2016. Then cryptocurrency project’s mainnet was live in May 2016 with the total conducted funds amounting to 14,052 Bitcoins.

Use of JavaScript: one of the notable Uses of Lisk Cryptocurrency

Based on visible applications of the Ethereum network, the lisk cryptocurrency enables the developers to use the most successful programming languages JavaScript in order to create their personalized decentralized applications. Developers can create and manage their decentralized applications on the side chains which are linked to the main blockchain of the Lisk cryptocurrency. One of the primary goals of the Lisk cryptocurrency is to improve the scalability issues which the community experienced in case of Ethereum.

 

SDK: one of the important uses of Lisk cryptocurrency

One of the most predominant uses of the Lisk cryptocurrency is that it offers a Software Development Kit, an integrated application which would enable the developers to create their own decentralized applications. Another noteworthy use case among many other uses of Lisk cryptocurrency is that it enables the developers to develop a Decentralized Application without learning any new programming language. This is one of the strongest uses of Lisk cryptocurrency.  

 

Better Governance: One of the most crucial uses of Lisk cryptocurrency.

Among many other applications, the predominant uses of Lisk cryptocurrency are that it is used to form the most secure form of blockchain network. This is achieved by Delegated Proof of Stake concept, as a consensus mechanism. It is to be kept in mind that this is different from the normal Proof of Stake mechanism, in the way that, in this case, only top 101 users of the Lisk cryptocurrency take part in the confirming and securing the utility of the transactions. Top 101 delegates are completely based on the number of Lisk they own which indirectly forms a vote.

 

Speed: one of  the most required uses of Lisk cryptocurrency

Increasing the transaction speed and block time is also one of the uses of Lisk cryptocurrency. It is absolutely noteworthy to mention that the Lisk cryptocurrency employs only 10 seconds for a block creation. One can imagine the rate at which the transaction would be confirmed. Hence the Lisk cryptocurrency is also could be one of the most scalable forms of alternative for the Ethereum blockchain.

 

Country ambassadors

The community members of the Lisk cryptocurrency are highly supportive in nature. How many times it is a witness that we develop was around the world experience a lot of problems in the developmental stages of the recent close applications therefore in order to provide technical assistance to search people the Lisk community has dedicated country ambassadors which are selected by them itself. This is the most form of service and uses of Lisk cryptocurrency when there is absolutely no hassle in the development of any particular decentralized application on our customization.

 

Closing remarks

It is absolutely certain that the cryptocurrency community would Lisk more uses of Lisk cryptocurrency as the committee members are highly experienced. they were previously associated with one of the second largest cryptocurrencies, Ethereum, before this project. Namely Charles Hoskinson (ex-CEO of Ethereum) and Steven Nerayoff (ex-advisor for Ethereum) in the form of Senior Advisors to Lisk.

Other cryptocurrency Blockchain projects have been initiated, but none of them seems to be coming any close to Bitcoin or Ethereum. The market capitalization of the top few cryptocurrency projects carries a lot of attention when relatively compared to the whole cryptocurrency market. However,

for a number of uses of Lisk cryptocurrency, it finds its place is in the most some of the renowned cryptocurrency projects.

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