Introduction to Lisk (LSK) Part 5

An overview of the Lisk Ecosystem

 

The Lisk blockchain and ecosystem want to become for developers what Apple App Store and Google Play Store are today, but in a decentralized way.

The advantage of Lisk is that Lisk is an open-source decentralized blockchain that gives developers full control over their products and their revenues. With Apple App Store and Google Play Store, developers have to pay fees to sell apps on the platforms and it is Apple and Google who decide what the fees are going to be. Lisk is a free decentralized platform, which means that developers will be in full control of how much they are charging for their apps.

Also, Apple and Google set the rules for their platforms and may change the rules at any time. With Lisk, this is not going to happen because there is no central authority that can decide to introduce new rules.

The main benefits of Apple App Store and Google Play Store are that the stores are extremely popular and come with a wide set of tools to help developers create new apps.

The creators of Lisk took care of this issue in several ways. First, the main programming language of the Lisk ecosystem and all Lisk code is JavaScript, one of the most popular programming languages on the planet. This means that it will be extremely easy for almost any developer to get started on the Lisk platform and to create new applications on the platform.

At the same time, every app on the Lisk platform has its own separate blockchain. Because of this, should anything happen to one of the side chains, all other side chains and the main chain will continue operating as if nothing has happened.

To help developers create new applications easily, Lisk has created Lisk Application Software Developer Kit (or Lisk App SDK) that includes the simplified BitShares delegated proof-of-stake consensus algorithm, a front end user interface, a back end developer toolkit and a new side chain that can either use the main Lisk token LSK or create its brand new proprietary token and raise funds for the new token independently or run a new initial coin offering.

 

Lisk ecosystem blockchain-based app directory

Yet another benefit of Apple App Store and Google Play store is that both platforms have robust app directories, allowing users to find apps that they are interested in. Just like these platforms, Lisk also has an application directory. What makes the Lisk directory different from Apple’s and Google’s and what makes it similar to other elements of the Lisk ecosystem is the fact that the Lisk directory is decentralized. All applications that developers create on the Lisk platform have to register on the main Lisk blockchain. This registration is what creates a link between the main chain and the app sidechain. The registration also means that the main Lisk directory will contain a list of all services and applications that developers have ever created on the Lisk platform. Similarly to registering an app with Apple App Store or Google Play Store, while registering an application with the main Lisk chain, the developers will be able to choose a name, create a proprietary description, add tags, icons and links, and specify a category for the new app. Basically, what Lisk offers and what developers on Lisk get a free access to is a new decentralized directory for independent blockchain applications.

 

Lisk ecosystem blockchain-based app marketplace

In addition to the directory, the Lisk ecosystem also has a marketplace. All of the sidechains on the Lisk platform by default use the same consensus mechanism as the main chain, which is delegated proof-of-stake. Developers on the Lisk ecosystem do have an option to not use the default delegated proof-of-stake and can opt for other versions of proof-of-stake or for proof-of-work.

By default, with delegated proof of stake, the main chain has 101 delegates and users electing delegates. Because sidechains in the Lisk ecosystem are clones of the main chain that use the same consensus algorithm, the side chains also have elected delegates.

Lisk marketplace is a way for the ecosystem to connect developers and elected sidechain delegates. If a sidechain uses the same delegated PoS as the main chain, it can also rent delegates from the main chain with the marketplace.