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Developing with Lisk Tools and Tokens

Lisk is one of many new lock chain application platforms created in the year 2016. Right now it allows developers to make their own decentralized apps and it functions very similarly to NEO or Ethereum. Lisk relies upon its own network of the blockchain to make its designated token. The developers want it to provide a place for other developers to create, distribute, and manage blockchain applications in a decentralized fashion. The developers are deploying side chains linked to the network and the custom token used by this crypto currency. The developers are also creating customizations for their blockchain applications.

Lisk coin lock chain application platforms

History

This particular crypto currency arose when two developers took a look at the industry after the initial growth and realized that there was a developer adoption missing. Demand was there but supply was not so they realized that blockchain technology was not yet accessible enough so they developed this as a way to accelerate the development of this framework. The code base originated from a similar projects on which both developers worked before it was closed down.

What makes it special?

There are many developer tools and blockchain application platforms out there so one has to ask what makes this particular design special. Right now it uses JavaScript. It also focuses on improving user experience and offering developer support. All three of these make it stand out compared to other developer tools. When you look at the majority of other solutions you will find that they are designed to be functional with private block chains or they are based on a single block chain. But this particular approach utilizes the best of both worlds. It offers security and stability and the side chains allow users unlimited flexibility. The developers have created a network that they control. They’ve also created this network without having to build everything from scratch.

Lisk coin symbol

How to get started

If you want to get started with all the different capabilities that this particular option has, you have to create your account, and download the special wallet. After this you can launch the application. With the launch of the application you will get tokens that you can use to buy things on other crypto currency exchanges. The tokens are essential for every action that you complete on the network so you absolutely cannot skip this step. You can also customize any advanced features on your account including adding extra layers of security. They are continually expanding so you will find new things like network status updates, transaction history, and relevant statistics as the company continues to deploy additional applications. The applications that are built into this network are decentralized which makes them stand out against the apps you will find on Google play for the Apple Store. Those alternatives are centralized solutions meeting that the company owns them and they create them specifically to work with products they had. By contrast, the applications that are built on to this are decentralized and easily accessed by anyone. Again, the goal of these developers is to provide the applications that anyone can use whenever they want. Using the applications and the developments kit provided allows for limitless opportunity. You can develop messengers, games, social networks, and other applications that are independent of existing platforms. You won’t have to develop consensus algorithms or follow peer to peer networking protocols. You can use the tools and the tokens together.

Lisk Tokens

In the year 2016 100 million tokens were distributed. 85% of these went to participants and 7.8% went to the core created team. You can still buy or sell their tokens on many major exchanges and exchange them for other crypto currencies or big coins. You can only change Japanese and Chinese fiat currencies for these tokens presently but the developers are trying to expand these options in the future so that other fiat currencies can be used to purchase their tokens.

How to transfer Lisk coins

Standard transfers, such as those you make when you’re paying for an online service, are carried out the exact same way as you transfer any other alternative crypto currency. You enter the address for your recipients using their wallet address and then you enter the amount of coins you want to send. You have to make sure that you have enough money in your wallet to cover your transaction. Then you simply send the money. The transaction is instantaneous but it can take a few minutes to be validated and available for your recipients.

How do I invest in Lisk?

There are a few ways you can invest in this particular crypto currency. The first is to invest in crypto currency as an investment class. Of course, this is highly speculative and just because there have been historical performances climbing this is not mean that you will get a future return. If you want to invest in this you can purchase coins similar to purchasing stocks or shares and hope that the value increases. Consider it much the same as trading on the Forex market is so far as you are hoping that the value rises against another currency. While crypto currencies are still relatively new their prices are volatile at times and over the last year many alternative crypto currencies have flooded the market and slowly risen but you still have to take this with a grain of salt.

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