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What is Lisk? Software development atop the blockchain

Everything you need to know about Lisk, the innovative new platform for building blockchain applications.

By building a framework in the popular JavaScript language, the Lisk team plans to open the doors for thousands of developers to build new applications using blockchain technology.

Learn more Buy Lisk (LSK)

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Lisk?

IconSymbolInitial release dateAlgorithm typeMax. supply
LSK24 May, 2016EdDSA, SHA-256No max

In recent years, many companies, institutions, and organizations have started to explore the possibilities for incorporating blockchain technology. However, finding and funding developers capable of coding a custom blockchain infrastructure from scratch can be a significant challenge.

Lisk aims to provide that infrastructure. Instead of having to write the core blockchain code themselves, programmers will be assisted in developing custom, industry-specific applications that work on top of Lisk’s blockchain framework.

While it’s still under development, Lisk aims to be user-friendly and is geared towards mass adoption. Lisk launched its own digital token (LSK) in May, 2016 to help raise funds to finance the project. The Lisk token is also used to handle fees and transactions within the larger Lisk ecosystem.

How is it different from bitcoin?

Although there is a cryptocurrency associated with it, Lisk is primarily a software development platform. The Lisk token (LSK) is used to pay fees or make transactions within applications built on the broader Lisk framework. Bitcoin, on the other hand, was designed to be a stand-alone digital currency that is universally accessible.

Lisk vs Ethereum

Like Ethereum, Lisk is a platform for creating decentralised applications. Unlike Ethereum, which requires most developers to learn the Solidity programming language, Lisk is built with JavaScript, which is a language that is already well-known and popular.

Sidechains in Lisk

Much of the current development surrounding blockchain technology involves a single blockchain or requires a custom, private blockchain solution. The goal is that applications built with Lisk can be deployed on their own “sidechain,” a flexible alternative that integrates with the main Lisk network’s blockchain infrastructure, while simultaneously giving developers complete control over their projects.

Where can I use LSK to pay

Lisk tokens (LSK) can be used to finance projects build on the Lisk platform. The team behind Lisk is working to create a framework that makes it easy to build entire applications using blockchain technology. In order to run the software inside these applications, users will need to pay fees with the Lisk token.

How to purchase Lisk

You can buy Lisk on most popular cryptocurrency exchanges, including Bittrex and Poloniex. Before you buy Lisk, you’ll want to be sure to download the Lisk wallet to hold your funds. In most cases, you can’t buy Lisk directly with fiat currency – you will need to use bitcoin.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Easy Crypto Cryptocurrency Exchange
Bank transfer, POLi
NZD

104
cryptocurrencies

Based in New Zealand, Easy Crypto enables users to simply pay in NZD through POLi or bank transfer to access a range of cryptocurrencies.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

156
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, POLi, Osko, PayID
AUD, NZD

276
cryptocurrencies

Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

314
cryptocurrencies

New users earn up to USD $500 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Finder Exclusive: Get 10% discount on your fees when signing up through Finder.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

863
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

283
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
BitPrime Cryptocurrency Retailer
Bank transfer, Credit card, Cryptocurrency, POLi
NZD

96
cryptocurrencies

Based in New Zealand, BitPrime trades around 90+ of the world’s top cryptocurrencies, including bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple.
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Can I make money with Lisk?

Although the Lisk platform is still under development, the Lisk token (LSK) has seen considerable growth since its initial release in 2016. Cryptocurrency markets are notoriously volatile, and the ultimate value of LSK will likely become clearer once more applications begin to use the Lisk framework. Those who see potential in the larger Lisk framework may choose to buy into the token with the assumption that it will increase in value as the project develops. However, cryptocurrencies are not reliable, and there is no guarantee you can make money with Lisk.

What to watch out for

As of September, 2017, the core Lisk platform and Lisk’s Software Development Kit (SDK) is still in the developmental stage. The community surrounding this new platform is growing rapidly, but only time will tell when it comes to how successful Lisk will be in terms of mainstream adoption.

While the Lisk platform has many unique features, there are other blockchain frameworks competing in this space. As more applications begin to implement the Lisk infrastructure, we’ll get a much clearer picture of what the future holds for this new technology.

What’s next for Lisk?

After releasing its first major application, the Lisk nano wallet in June 2017, the Lisk team is continuing to develop the project. Mid-late 2017 has seen Lisk put an emphasis on their marketing strategy, building their brand, and growing the community.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Image sources: Shutterstock

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