LSK

1. Project introduction

Lisk is a blockchain application platform. Based on its own blockchain network and utility token, LSK, it will enable developers to build blockchain applications and create an ecosystem of blockchain applications for mainstream users to benefit from.

Before blockchain can achieve its full potential, it needs to gain mass adoption. Lisk is determined to solve this problem by becoming a safe and secure gateway to this technology for developers and enthusiasts alike. Through Lisk, developers can build, publish, distribute, and monetize their applications within a custom built cryptocurrency powered system that utilizes custom blockchains, smart contracts, cloud storage, and computing nodes; all from within one industry solution.

Lisk is the first decentralized application solution written entirely in Node.js. This opens up the Lisk ecosystem to thousands of current developers with no additional skills necessary. Any web developer who is already familiar with JavaScript and Node.js can immediately jump in and begin building decentralized applications from day one.

Lisk Network is where the Lisk blockchain exists. On this network, Lisk users are able to transfer LSK tokens from one account to another, register accounts as delegates, vote for delegates and, in the future, will be able to register blockchain applications.

LSK is the name of Lisk utility token. It is used to pay for transaction fees on the Lisk blockchain.

2. Application and distribution

Token application:

LSK is the name of Lisk utility token. It is used to pay for transaction fees on the Lisk blockchain.

Token distribution:

There is no maximum amount in circulation. The inflation rate will decrease over time, for example to 1.74% in the 15th year due to the reduction of the forging rewards.

The initial distribution during the ICO was 100,000,000 LSK. Since the network went live May 24th, 101 delegates are securing the Lisk network and receiving forging rewards for their service. When the network first launched, 5 new LSK was added to the supply for every new block created. Every 3,000,000 blocks (~1 year) this reward was reduced by 1 LSK, ending at 1 LSK per block, where it will currently stay forever.