Pros and cons of Lisk (LISK)
The Lisk (LISK) cryptocurrency is making headlines by rewriting the rules of blockchain ecosystems.
It is just a matter of time before investors realize the golden opportunities they are missing by not signing up with Lisk. This is the next big cryptocurrency ecosystem!
Let us look at some of the amazing features of Lisk:
Lisk is leading innovation in cryptocurrencies. It is the first cryptocurrency to introduce sidechains. Most cryptocurrency users say there is nothing as bad as a slow blockchain network. It is their worst nightmare. Most of this is brought on by the system becoming bloated.
A bloated network means there are too many transactions, some of them could be fake (i.e., test and others invalid transactions). With sidechains, the problem of a bloated network is history.
Think of a sidechain as a branch from the main blockchain where things happen, and if approved and are ready for transfer they are allowed into the main blockchain thus ensuring the blockchain network only handles relevant data.
By using sidechains, cryptocurrency developers can also take advantage of the chance to build their own blockchain applications, on their own sidechains and with their individual custom tokens which they can later attach to Lisk’s blockchain. This will make it more accessible to developers.
- Very User-friendly Interface
Again, most investors are usually put off by the complexity of the platforms used by the majority of cryptocurrencies. Some of the successful digital coins such as DASH require cloud mining instead of using ASIC mining hardware.
Users can easily access and use all the feature of the Lisk ecosystem. All that offers developers and users the opportunity to use smart contracts, computing nodes, customized blockchains as well as cloud storage.
- It Is Oriented Toward App Developers
- It uses Delegated Proof of Stake (DPoS)
This is different to the Proof of Stake technology used by several cryptocurrency blockchains. With DPoS, the top 101 delegated voters actively forge and secure the network at any one time. Then each of the 101 delegates gets one block.
The only drawback of Lisk ecosystem is the extended block time
Each block time is usually 10 seconds, and if a delegate can’t forge a block within 17 minutes, the block is moved to the round, meaning its time gets extended by 10 seconds. This at times causes delays in confirming transactions.