Mainnet Goes Live
According to a Medium blog post by the Lisk team, the Mainnet launch is expected to go live on August 29, 2018, at block height 6,901,027.
“The migration of Lisk Core 1.0 to Mainnet will happen when we reach block height 6,901,027 at the end of round 68327,” Lisk tweeted, adding that the block height is expected to arrive on August 29, 2018, at approximately 11 AM CEST.
What is Lisk (LSK)?
Forked from the Crypti open-source blockchain app in 2014 by Max Kordek and Oliver Beddows, the Lisk project is designed to function like Ethereum, enabling developers to build decentralized applications seamlessly.
It’s also noteworthy that unlike the Bitcoin and Ethereum blockchains, Lisk employs the use of sidechains to eliminate scalability issues on its network.
Sidechains can be described in layman’s terms as “independent baby blockchains” that link to the Mainchain without posing any hindrances to the Mainchain.
On the Lisk network, each decentralized application runs on its own sidechain, leaving the mainchain free at all times, to process other transactions.
Lisk has a block time of 10 seconds and uses the Delegated Proof-of-Stake (DPoS) consensus algorithm.
Lisk is one of the very few blockchain projects that have real-life use cases. The project launched its initial coin offering (ICO) as far back as 2016, raising 14,000 BTC during its LSK token sale.
The significance of Lisk Core 1.0
According to the Lisk team, Core 1.0 will come with brand new API design, a new P2P communication layer and a new data field that will make it possible for users to send custom messages along with their transactions.
Other features include atomic block writes and more.
At press time, Lisk is ranked 23 on the CoinMarketCap list of top 100 cryptocurrencies, and the price of Lisk (LSK) token sits at $3.91.