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Lisk
About Lisk
Lisk is a cryptocurrency and decentralized application platform that operates on a highly efficient Delegated-Proof-of-Stake consensus model secured by 101 elected delegates. The platform allows for the deployment, distribution, and monetization of decentralized apps and custom blockchains. The inflation rate is 5 LISK per block and will decrease by 1 every year until it reaches 1 LISK per block. Lisk has partnered with Microsoft to integrate into its Azure Blockchain as a Service, allowing developers to develop and deploy Lisk blockchain applications using Microsoft's cloud computing platform.
*Token Perspective:* Lisk (LSK) is the native cryptocurrency token of the Lisk platform. It operates as a utility token, facilitating various activities within the Lisk ecosystem, including transactions, delegate voting, and participation in the platform's consensus mechanism.
*Platform Perspective:* The Lisk platform is a blockchain application platform designed to enable developers to build applications and deploy their custom sidechains linked to the Lisk mainchain. This design aims to tackle scalability and flexibility issues associated with other blockchains. The Lisk SDK (Software Development Kit) empowers developers to build applications in JavaScript, one of the world's most commonly used programming languages.
The LSK token has multiple utilities within the Lisk platform:
- Transaction Fees: It is used to pay for transaction fees on the Lisk network.
- Staking: LSK tokens can be staked to earn rewards and to participate in the platform's consensus mechanism.
- Sidechain Registration: Developers may need to spend LSK tokens to register their custom sidechains on the Lisk platform.