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Lisk is a decentralized blockchain platform that allows users to create and distribute applications. Custom tokens can also be created on the Lisk platform for each custom sidechain. Lisk can be compared to other blockchain platforms such as Ethereum or NEO.
Currently in the blockchain industry, there is debate among the community on public vs private blockchains. Popular examples of public blockchains are Bitcoin and Ethereum, where all transaction information is publicly viewable.
Lisk tackles this problem by allowing sidechains, where users can launch their own blockchain based on custom specifications. Unlike Ethereum, which uses smart contracts, each Lisk sidechains will be custom made to implement features and applications and run on its own token.
The idea of sidechains can be very attractive to companies wanting to create their blockchain application with custom features. Because sidechains don’t rely on the mainchain to process transactions, a slowdown in the main Lisk network won’t cause problems in the sidechain. In addition, companies may want to run their own private sidechain, where transactions are not publicly viewable.
If you have concluded that this is the coin for you, congratulations! Buy LSK here.