What is Lisk?

Sep 13, 2022
2 min read

This blog post will cover:

  • What is Lisk?
  • Where did Lisk come from?
  • What are the advantages of Lisk?
  • What are the disadvantages of Lisk?
  • How to buy Lisk on SimpleSwap?

What is Lisk?

What is Lisk (LSK)? Lisk (LSK) is a cryptocurrency of a blockchain application platform that seeks to make blockchain technology more accessible to the masses. Lisk focuses on user experience, developer support and in-depth documentations. The Lisk code is written in JavaScript so as to allow developers to easily build blockchain applications on the Lisk blockchain and even deploy their own sidechain linked to the Lisk network. The open source Lisk blockchain platform is powered by LSK coins and operates under the Delegated Proof of Stake (DPoS) consensus model to allow for its network to be secured by democratically elected delegates.

Where did Lisk come from?

Thereby features of Lisk lies in the fact that developers provide you with the ability to create and run applications of a decentralized type, as well as blockchains based on Lisk platform.

What are the advantages of Lisk?

Lisk was started up in 2016 and presented its cryptocurrency LSK. The background of Lisk goes back to 2014 with Crypti, an open-source blockchain app platform. Despite being successful on a community level, Crypti was branch by founders Max Kordek and Oliver Beddows due to needed to develop further. Thus, in May 2016, Lisk appeared.

What are the disadvantages of Lisk?

In short time after this branch valuable recruits were joined. For example, Charles Hoskinson (ex-CEO of Ethereum) and Steven Nerayoff (ex-advisor for Ethereum) were nominated as senior advisors of Lisk, to help guide product development.

How to buy Lisk on SimpleSwap?

Let’s say you want to buy Lisk. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select LSK in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient’s Address. Lisk will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

This is everything you need to know to buy LSK.

Don’t miss our new articles!


Share on: