This is one part in a series focusing on lesser known coins that have interesting value opportunities.

Lisk (LSK) is a sidechain development platform intended to make it easy for developers to deploy dApps in Javacript. LSK is looking to take the power away from platforms like Google Play and other centralized app nodes and instead create a fairer platform.

Lisk does this by using sidechains and a complete Software Development Kit (SDK) to enable a complete kit and kaboodle for developers to produce polished DAPPS (decentralized apps) and an independent blockchain under one system. The SDK contains four parts:

  1. Consensus Algorithm – In the case of Lisk Delegated Proof of Stake (DPoS) which is also the default setting
  2. Sidechain – Allows the ability to create an autonomous blockchain linked to Lisk’s main chain
  3. Back-end – Customizable code for devs to create DAPPS independently
  4. Front-end – The user interface (UI) which are public facing components

Here is a description from the creators:

Lisk is a decentralized network such as Bitcoin, Nxt, or BitShares. It doesn’t utilize Proof of Work like Bitcoin, or Proof of Stake like Nxt. Lisk uses a simplified implementation of BitShares’ original consensus algorithm called Delegated Proof of Stake. That means every LSK holder can vote for mainchain delegates which are securing the network. There are only a maximum of 101 active mainchain delegates which always got the most votes on the whole network, and only they can earn block generation rewards, that means there is a financial incentive to become an active delegate. Every other delegate is on standby awaiting to become elected, or alternatively, securing a Lisk sidechain

Find out when LSK reaches critical levels. Sign up for push notifications to hear about every new article on economicgazette.com.

Aside from the basics of the coin, LSK has been trending down over the last three months. The 24th-ranked coin has struggled to get back above $3.00. Some analysts in the space have also questions the foundations of the project as current block producers are influential enough to keep voting for themselves and in effect create collusion. Similar problems have been noted with the EOS ecosystem.