DEFINITION of 'Lisk'

Lisk is a decentralized blockchain-based application platform that enables app developers to create, distribute and manage decentralized applications (dApps) on a JavaScript-based software development kit (SDK), in addition to offering them the liberty to create their own customized blockchains to support their apps.

BREAKING DOWN 'Lisk'

Many existing dApp blockchain platforms, like Ethereum, host all their apps on a single blockchain which can lead to issues like network congestion and limited resource availability. Lisk addresses such issues by allowing developers to build and control their own blockchain as a sidechain that is linked to the Lisk's primary mainchain.

All features, parameters, and transaction types of this sidechain can be configured to make the best fit to a developer’s blockchain application which runs on the dedicated sidechain. This keeps the mainchain free and efficient.

Lisk offers its own cryptocurrency called LSK tokens, and has its own wallet called Lisk Nano wallet.

RELATED TERMS
  1. Decentralized Applications or dApps

    Decentralized applications (or dApps) are digital applications ...
  2. Blockchain

    A blockchain is a public ledger of all cryptocurrency transactions. ...
  3. Permissioned Blockchains

    Permissioned Blockchains require participants to identify themselves ...
  4. Blockchain ETF

    Blockchain ETFs facilitate real-time trading on a basket of blockchain-based ...
  5. Crypto Token

    Crypto tokens are representation of a particular asset or a utility ...
  6. Ethereum

    Ethereum is a decentralized software platform that enables SmartContracts ...
Related Articles
  1. Tech

    What Is Lisk?

    This article examines the Lisk platform architecture and the gaps it attempts to fill in existing blockchain-based platforms.
  2. Trading

    4 Top-Performing Alternatives to Bitcoin

    Bitcoin's blockchain technology has spawned a new ecosystem of “altcoins.”
  3. Tech

    Bitcoin 2.0 Applications (AMZN, EBAY)

    The bitcoin blockchain enables the application of decentralized public ledgers for purposes other than digital currencies referred to as Bitcoin 2.0 or sometimes more generally "crypto 2.0.”
  4. Tech

    How Do Blockchain ETFs Work?

    Investopedia explores how blockchain ETFs work and the risks associated with such theme-based investments.
  5. Tech

    All About Ethereum

    Here’s a detailed look at Ethereum, and what makes it so special and promising
  6. Tech

    How Does Blockchain Work?

    Blockchain technology supports the cryptocurrency space and many other promising applications.
  7. Tech

    Can Decentralized, Blockchain-based Internet Become A Reality?

    Here’s what a decentralized, blockchain-based internet promises, and where it may face issues.
  8. Investing

    Just What Is Microsoft Azure Blockchain Council?

    Microsoft launched the group to hook up firms with blockchain technology with those that need it.
  9. Investing

    13 Industries Blockchain Could Disrupt: Baird

    Baird analyst Colin Sebastian laid out 13 industries that may be impacted by blockchain.
  10. Tech

    Blockchain Technology To Revolutionize Traditional Banking

    Blockchain technology is being taken seriously by the financial sector as it may prove to be a great disrupter to the traditional banking industry.
RELATED FAQS
  1. What Does the Bitcoin Blockchain Record?

    Read about the bitcoin blockchain, a public ledger shared among all bitcoin users that records the information of every single ... Read Answer >>
  2. What should I look for when choosing a forex trading platform?

    A trading platform is a piece of software that acts as a conduit for information between a trader and a broker. A trading ... Read Answer >>
Hot Definitions
  1. Quick Ratio

    The quick ratio measures a company’s ability to meet its short-term obligations with its most liquid assets.
  2. Leverage

    Leverage results from using borrowed capital as a source of funding when investing to expand the firm's asset base and generate ...
  3. Financial Risk

    Financial risk is the possibility that shareholders will lose money when investing in a company if its cash flow fails to ...
  4. Enterprise Value (EV)

    Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market ...
  5. Relative Strength Index - RSI

    Relative Strength Indicator (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent ...
  6. Dividend

    A dividend is a distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.
Trading Center