A Brief History of Lisk
Lisk was born when it forked away from Crypti in early 2016, and since its inception, there has been some confusion as to what exactly it is and what it’s for. There are various reasons for this – early advertising tactics to various crypto communities, being a little bit slow to release a whitepaper, etc.
The company itself has worked to dispel the confusion, most notably this blog post by co-founder Max Kordek(among other things).
What is Lisk
- a decentralized network such as Bitcoin, Nxt, or BitShares that uses Delegated Proof of Stake or DPoS.
- a cryptocurrency with a token called LSK, with a current market cap of over 3 billion dollars.
- a framework written in Java to deploy sidechains and develop blockchain applications on top of them.
Lisk has often been compared to Ethereum. The reason? Both try to provide a platform for a similar idea: decentralized applications, but there is a clear difference
- Lisk uses DPoS, while Ethereum currently uses Proof of Work (PoW), but will in later stage implement POS system as well.
- They have different locations for applications: Lisk uses sidechains, while Ethereum currently stores on the main chain.
One of the primary values of the LSK platform is providing Java developers a smooth entry point into the world of blockchain technology.
Lisk Rebranding on 20 February
In early 2017, Lisk announced that they had partnered with renowned Berlin-based design agency Taikonauten and Rlevance a world-famous brand strategy consulting firm who’ve worked with the likes of Microsoft and Mercedes Benz, to help with the relaunch. NEO’s rebranding from AntShares really helped push the project, the community has had high hopes for Lisk’s relaunch as well. The market research was conducted at the front end of the timeline and included a careful examination of Lisk’s business model, strategy workshops and interviews with numerous blockchain experts. The result is a clear understanding of the market, a distillation of Lisk’s significance and a unique positioning strategy.
Lisk will also be getting help from Expand Online, a digital marketing agency, which will assist with their new website’s architecture.
The key points of Lisk’s relaunch include a new brand identity, a new website, and a completely updated platform. Users will get to use a new interactive Lisk app, which will have some of the features from Lisk Explorer and a new wallet. Lisk Nano and Lisk Explorer will be discontinued following the rebrand.
For any company (or technology) in its infancy, identity and positioning are issues of paramount importance. Lisk recognized this and it’s largely why the rebrand was undertaken.
It will reportedly address all of the following:
- The logo
- The website
- The blockchain explorer
- The client-user interface
In addition to this, Taikonauten is doing a ground-up rebuild of Lisk’s corporate design and media kit. At the same time, the Lisk team is working hard to mold a more elegant core system, develop a better Lisk Software Development Kit (SDK), add more useful features, and continue to put an emphasis on security.
The SDK, in particular, is important because this is the tool that will allow other developers to innovate and build applications onto chains, next to the main Lisk chain.
Why is rebranding a huge deal?
Many will recall the rebranding of Antshares to NEO which took place last summer. This rebrand brought with it new features that gave NEO an edge over its competition and this saw its price and market valuation shoot through the roof. It introduced an advanced smart contract code, digitization of more different assets as well as support for decentralized commerce.
Whenever a cryptocurrency rebrands, there is excitement in the market. This is because it brings with it new features that it didn’t support before. It also improves on the features it currently has made it faster, more secure and more flexible. This gets many excited and leads to a scramble in the market for its native cryptocurrency driving its price to new heights.
Why LISK will be huge in coming years
Lisk CEO Max Kordex:
15 billion devices run Java
It has one of most promising teams in the crypto space. Important people who worked on the Ethereum project moved to Lisk. These were Chares Hoskinson creator of Cardano and Steven Nerayoff. These gentlemen have been very important in launching Ethereum. Max Kordex himself has been the CEO in the development of the NXT network. And the LISK team is expanding on a monthly basis, that’s why they moved to a new office recently.