Cryptocurrency

Lisk Strives to Bridge the Gap Between People and the Global Economy

With the world heading towards a paperless economy, cryptocurrencies have become a hot-shot solution for many industrial domains. The digital currency that was founded as a remedial offering to the global recession has now established itself as part and parcel of business enterprises, individuals, and government organizations from around the world. A major reason for this booming success of cryptocurrencies was the use of the revolutionary blockchain technology which offered the highest standards of security and transparency to the investors. As innovations, developments, and potential solutions flooded the crypto market; the industry grew in heaps and bounds attracting support from some of the biggest names in the industrial arena.

Crypto firms and organizations supporting blockchain technology have played a major role in earning customer base from around the world. One such revolutionary platform is a Switzerland-based firm, Lisk. Established in 2016 by Max Kordek and Oliver Beddows, Lisk serves as a blockchain application solution that strives to connect more and more people to the blockchain technology by bringing them under the umbrella of crypto-supported financial services. The dedicated team of professionals working behind the success of Lisk put in their efforts to render the investors with opportunities through the energy-efficient blockchain network, developer tools, and community.

A major section of the global population is devoid of access to financial services, banking facilities, and business opportunities. The founders of Lisk launched their platform to solve this issue by bridging the gap between people and the global economy. It allows the users to enjoy a convenient and secure payment interface for investors through its expert crypto wallet services. The wallet allows users to deal in virtual currencies at their ease and at a nominal price in comparison to other traditional payment solutions. To ensure optimum user convenience, Lisk wallet is available on desktop and mobile.

One of the most prominent features of Lisk is its utility token LSK, which helps the customers to pay for transaction fees on the Lisk blockchain. Lisk coin takes pride in being the digital currency with the 14th largest community and 13th most active development. It also holds the eighth spot on CoinGecko’s overall ranking charts. Some of the most lucrative features of Lisk token are:

  1. The base of the design of the altcoin relies on certain modules that allow a developer to use “designing blocks” for the creation of their own decentralized apps. The DApp developers can create their apps using Javascript, which undoubtedly is one of the most popular programming languages. This encourages Lisk adoption in a big way as the majority of programmers prefer Javascript.
  2. Lisk blockchain uses sidechains, which withers away the problem of the bloated network caused by the piling of fake transactions. Sidechains are attached to independent blockchains where users can store high-volume transactions without troubling the main blockchain. This feature speeds up the transaction processing in a big way.
  3. Since its inception, investors are being showered upon with block rewards attached to every new block. At present, the Lisk blockchain gives block rewards of 2 LSK. From October 2020, the block reward will be reduced to 1 LSK which will be fixed forever.
  4. The leading cryptocurrency exchanges offering Lisk trading pairs include Binance, Poloniex, Kraken, Bittrex, Huobi, BitBay, Bitflyer, Bitpanda, Coincheck, Upbit, OKEx, and KuCoin.

Latest Achievements of Lisk Network

The Lisk community started 2020 on a happy note with the announcement of Coincheck, the leading cryptocurrency exchange initiating the launch of a Lisk staking service. The event garnered a lot of attention from the crypto space as this was for the first time that a Japan-based crypto exchange offered staking services. The investors will earn rewards from the staking process in accordance with the volume of assets held by them.

Conclusion

Designed with an aim to boost the accessibility of cryptocurrencies, Lisk is taking all the necessary steps to achieve its ultimate goal. Being listed in the world’s top exchanges by earning their trust in a short span of time, the crypto coin has proven its mettle and has hinted that it is likely to rule the arena in the future. As the coin is comparatively new, it will be interesting to watch how it will pave its way to more success while giving stiff competition to other top slot digital currencies.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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