What is Lisk (LSK) Token? How To Buy LSK In India?

The world of blockchain, crypto, & web3 has been evolving every new day and the lack of accessibility is the major concern at the moment. Numerous programming languages have emerged which has made the job of developers job more strenuous if they wish to build any application on it which is flexible across multiple platforms. This is when platforms like Lisk come to the rescue that aims to improve web3 accessibility for developers and users. 

Lisk is an open-source network that serves as a platform for dApps and programs designed to run across the network of computers. The Lisk platform offers the developers the Software development kit (SDK) that allows them to write programs using the Javascript and Typescript languages, widely used in general web development. 

The developers can easily deploy sidechains while the chain continues to be connected to the Lisk ecosystem. The native token of the network LSK empowers the network by using it to pay fees after performing key operations and also use to vote on the proposals, similar to a governance token.

Who Are the Founders of Lisk?

The platform initially originated as a fork of Crypti, a similar Javascript-based platform founded by the founders of Lisk, Max Kordek, and Oliver Beddows. Somewhere in February 2016, the founders held an ICO for the native token LSK and raised 14,000 BTC worth $5.6 million then by auctioning 85% of the total supply. In comparison, the remaining 15% was redistributed among the key developers and stakeholders.

Max Koradek is the CEO of Lisk who founded the platform at just 24 years of age and also co-founded Lightcurve at the same time. Apart from being a co-founder of successful crypto platforms, Koradek works relentlessly to amplify the crypto space. Besides, Oliver Beddows, the CTO of Lisk is a veteran crypto developer also co-founder of Lightcurve along with Koradek.

How Does Lisk Work?

Lisk network operates on its native blockchain and is accessible through Lisk Core software. This software ensures the smooth running of the operations by enforcing the protocol rules and syncing the network participants. Some of the main features that ensure the proper working of the network are

Delegated Proof-of-Stake (DPoS)

Lisk uses the Delegated PoS which is an improved version of PoS that allows the validators to outsource the block validation through a voting system. Here, the validators can use up to 10 delegators to validate the blocks on their behalf of them and also share the rewards among them. As the validation process is distributed among more than 100 delegated validators, Lisk uplifts the main feature of the blockchain by being decentralized. This also helps the network to achieve the highest transaction per second (TPS) and improve scalability. 

The Lisk SDK

The unique feature of the Lisk ecosystem is the Lisk SDK or Software Development Kit which is based on JavaScript. The SDK aims to make the blockchain and Web3 more accessible to a wide range of developers regardless of the language they use to build the applications. Furthermore, the developers can also leverage the Lisk SDK to implement their applications on ‘Sidechains’ instead of smart contracts. The SDK is also designed to support the development of NFTs, P2P, and Proof-of-Authorithy modules. 

Scalable Sidechains

Sidechains are separate blockchains that are connected to the main chain. Developers can build applications and deploy them on sidechains instead of the main chain and offer lower transaction fees with a greater TPS. The Sidechains are highly interoperable as they maintain healthy communication with one another through cross-chain messages and also aim to ensure smooth asset exchange between them and the main chain. 

What Makes Lisk Unique-Uses Cases?

Accessibility

The Lisk network’s main vision is to offer such a platform that is accessible to everybody instead of being restricted to technical people or the elite.

Well Established

The network was initially founded in 2016 and also can be referred to as one of the oldest cryptos in existence. With the highest development activity, the team also has proven to remain devoted to the enhancement of the project. Moreover, the project is also heavily funded which it may remain for many more years ahead.

Unique Sidechains 

The network despite working on delegated PoS does not rely on Smart contracts and developers deploy their applications on sidechains. This enables a reduction of fees drastically with enhanced speed. 

Javascript

The Lisk SDK is written using Javascript which is the most widely used programming language with the largest pool of developers.

Lisk Price Analysis

Source: Tradingview

• Ever since the market collapsed in May due to the fallout of the Terra ecosystem, the LSK price has been trading within a falling wedge which is largely considered bullish
• Due to the diminished volume and slashed volatility, the token is extending the pattern and waiting for the right opportunity to breach through the pattern
• Hence, the price may continue consolidating within the pattern for a while and experience a minor pullback that may trigger a notable upswing 
• With a flip, the price may quickly secure the levels above the initial resistance between $0.86 and $0.9 and further look out for higher targets beyond $1 in the coming days. 

How to Buy Lisk in India?

Want to buy Lisk tokens in India, CoinDCX is the best-suited place. Being India’s leading crypto exchange, CoinDCX is also one of the best Bitcoin and crypto apps for beginners. To begin with, all you have to do is, 

• Download the CoinDCX App on your smartphone
• Enter the details required for registration
• Complete KYC
• Once your profile is verified, fund your CoinDCX wallet and buy LSK