blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Bet Now
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Bet Now
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Lisk (LSK) CEO: Block Reward Reduction to Help the Platform and its Users

Ogwu Emmanuel by Ogwu Emmanuel
December 19, 2018 - 7:52 am
in altcoins news
0
Bitcoin Futures Exchange BitMEX to Shut Down its US and Quebec-based Clients’ Trading Accounts
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
  • CEO of Lisk (LSK), Max Kordek says all blockchain consensus algorithms have their strengths and weaknesses
  • Kordek claims the recent block reward reduction is in the best interest of the platform and its users
  • The newly introduced Lisk Improvement Proposal (LIPS) will address a lot of issues plaguing the network, Kordek declared

With the crypto winter showing no signs of going away anytime soon and the price of bitcoin and other crypto-assets keep making new lows with each passing day, the CEO of the Lisk (LSK)  distributed ledger technology (DLT) project whose native altcoin LSK currently ranks 35th on the market, has made it clear in an interview with Finance Magnates on December 13, 2018, that the project is here to stay.  

The Lisk Advantage

In a recent interview with Finance Magnates, Max Kordek, the CEO and co-founder of Lisk (LSK) seized the opportunity to counter critics while also shedding more light on the achievements and planned activities of the project.

Created in 2016 by Kordek in collaboration with Oliver Beddows, using JavaScript and TypeScript, Lisk is based on the Delegated Proof-of-Stake (DPoS) consensus algorithm which is more energy efficient than Bitcoin’s Proof-of-work (PoW).

Explaining the reason behind his choice of programming language, the CEO of the project reportedly stated that he felt the need to make it easier for developers to create highly functional blockchain solution without necessarily learning to code afresh with programming languages like Solidity and Turing, which most of them may be unfamiliar with.

“One of the first challenges I observed in the DLT world was how difficult it was for coders to venture into the space due to the technical sophistication of blockchain.”

Kordek claims that Lisk makes it possible for developers to seamlessly build blockchain applications “on top of customized sidechains in JavaScript and TypeScript.”

A Work in Progress

Although the Lisk project has held its own since its birth two years ago, it’s worth noting that the project has also faced some stormy waters.

In October 2018, one of the Lisk top developers called 4fryn, wrote an article highlighting the problems facing the project, including its unbalanced voting system, dynamic fees and more.

In response to that, Kordek made it clear that there is actually no consensus algorithm that is 100 percent perfect, as all the consensus protocols currently in existence are a work in progress.

“These issues will be addressed through the newly introduced Lisk Improvement Proposals (LIPs). We care about these challenges so much that we created a whole new phase of our development Roadmap dedicated to further tweaking our consensus algorithm, the voting system as well as incentivization of standby delegates,” he said.

At press time the price of Lisk (LSK) sits at $1.38, with a market capitalization of $155.99 million and a 24-hour trading volume of $4 million.  

ShareTweet
Ogwu Emmanuel

Ogwu Emmanuel

Ogwu is a Nigeria-based blockchain analyst focussing on the regulatory implications of governments in the cryptocurrency industry. He writes regularly for several cryptocurrency-focussed news sites.

Recommended For You

Justin Sun Says His KPI for Current Year Is to Make TRX Adopted by 5 Countries as Their Legal Tender

by Umair Younas
January 29, 2023 - 10:41 am
0
Tron TRX

Justin Sun labelled this objective as ambitious. Nonetheless, he noted that dedication and hard work can play a significant role in achieving his goal.

Read more

US White House Administration Issues a Roadmap to Minimize the Risks of Crypto Assets

by Umair Younas
January 28, 2023 - 7:42 am
0
White House

The US White House Administration has released a roadmap for the Administration to minimize the risks associated with crypto assets.

Read more

SoftConstruct-Incubated Fastex Achieves a Big Milestone of Raising $23.2M in Unprecedented Fasttoken Sale

by Mushu Butt
January 27, 2023 - 5:23 pm
0
fastex

SoftConstruct-Incubated Fastex achieves a big milestone by raising $23.2M in its Fasttoken sale, cementing its position as a leader in the industry.

Read more

US Securities Regulator Probes Wall Street Investment Advisors over Crypto Custody

by Shayan Chowdhury
January 27, 2023 - 8:27 am
0
SEC

According to the latest report, the SEC has lodged an investigation against crypto custody advisers running their services without proper qualification. 

Read more

BIT Collaborates with DWF and Darley Technologies to Expand TON Services in Crypto Options Market

by Umair Younas
January 26, 2023 - 4:20 pm
0
unique

With the help of its reliable partners, BIT is working hard to make crypto solutions available to institutional and retail investors alike.

Read more
Next Post
US: New Hampshire Lawmakers Considering Bill to Legalize Tax and Fee Payment in Bitcoin

Western Union and Ripple Working on the use of Blockchain Technology and Cryptocurrency

PARTNERS LIST

PRESS RELEASE

China’s “Instagram” chooses Conflux Network for permissionless blockchain integration

by chainwire
January 25, 2023 - 8:42 am
0

Toronto, Canada, 24th January, 2023, ChainwireLittle Red Book, (XiaohongShu), the Chinese version of Instagram integrates Conflux Network as permissionless blockchain...

snowfall protocol

Snowfall Protocol (SNW) Takes the Spotlight as Waves (WAVES) Founder Unveils New ‘Undepeggable’ Stablecoin and Ripple’s (XRP) New Commercial Released

by Max Clark
January 25, 2023 - 7:02 am
0

The cryptocurrency market has seen its fair share of ups and downs, but one project that seems to be gaining...

Snowfall

Binance (BNB) Will Back Terra Classic’s Upgrade, Cardano (ADA) Introduces Custom-built Sidechains, Snowfall Protocol (SNW) to Have its Grand Launch Soon

by Wayne Jones
January 24, 2023 - 4:53 am
0

While the former two are in the headlines due to recent changes in their ecosystem, Snowfall Protocol (SNW) is all...

Snowfall Protocol

Terra Classic (LUNC) and Polygon (MATIC) Shows Instability Signs, While Snowfall Protocol (SNW) Presale Raises $4M

by Max Clark
January 23, 2023 - 12:00 pm
0

This article will critically examine why Snowfall Protocol (SNW) is gaining ground and why Polygon and Luna Classic's (LUNC) price...

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2023 - Blockchainreporter.net. All Right Reserved.