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Lisk - Definition from the Hotspot Shield Encyclopedia

Lisk is a platform that operates on the Blockchain and is used by the public for the creation and use of decentralized Blockchain apps.

Lisk was created using crowdfunding and managed to generate just under 6 million in initial funds which was a record at the time, and during its early stages of development it was touted as the second most popular cryptocurrency to Bitcoin. The platform and currency centers around the use of Blockchain sidechains that help with scalability. Lisk uses a delegated proof of stake system, and provides much more usability and potential for development over other crypto currencies such as Ethereum. The unit of currency for Lisk is LSK, and the forging (or minting) process is inflammatory and the rewards for forging are subsequently reduced each year.


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