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Official Lisk Mainnet Launch - End of April

Up until today, we had estimated an official launch of the Lisk platform for April 11th, 2016. Unfortunately, there have been setbacks concerning the generation and validation of keys, associated with each ICO exchange. Consequently, we have decided to delay the official launch to the end of April, the worst case scenario being early May.

The delayed launch will not be in vain; not only will it provide the community enough time to generate and validate their keys, we will also implement important security features into the platform.


Passphrase Validation

As of today, 87% of all ICO participants have generated their keys and claimed their passphrases, while only 44% have validated them. The validated passphrases percentile provides the team a degree of certainty that ICO participants have saved the correct passphrases. We need this as high as possible to follow through with the official launch. Current status:

- 13% not claimed passphrases: ~1,800 BTC or $750,000
- 56% not validated passphrases: ~7,840 BTC or $3,292,800

At the present time we would have to escrow over $750,000 in LISK, while having the uncertainty of potentially $3,300,000 in incorrectly recorded keys. We feel these numbers need to be reduced.

Starting this week, we will send out emails to all users who have not yet generated or validated their passphrases.

- How to Generate your Lisk ICO Passphrase
- Verifying your ICO Generated Passphrases

Paving the way for a bright future

After discussions with individual community members and advisors, we have decided to deviate from our current pre-launch roadmap, and focus towards improving the security first. The updated pre-launch roadmap will be available this week, and will include the plans for building a modular crypto-currency, the implementation of mnemonic checksums, updated fees and much more.

Modular Crypto-Currency

Lisk is poised to become the first truly modular crypto-currency by utilizing sidechains as a solution to scalability. Lisk sidechains allow us to implement various features into the Lisk main network as Decentralized Applications (Dapps). This not only makes single features optional, it also keeps the Lisk mainchain streamlined in comparison to other crypto-currencies.

Mnemonic Checksum

Crypto-currency brain wallets have a history of problems concerning users choosing too simple passphrases for their accounts. It’s important to understand that the passphrase represents the private key of your account. Therefore, we integrate mnemonic checksumming of passphrases that conforms to BIP39, forcing users to generate highly secure passphrases directly inside our client (12 words like: all spike short ill claim field credit doctor paddle appear price music).

Responsive Design

Lisk community members are already working on mobile clients for Android and iOS. If you want to access your Lisk account inside your smartphone browser you are able to do so right at launch - thanks to our responsive design.

Updated Fees

We feel the current fees are a bit on the expensive side. Prior to the official launch we will adjust the fees accordingly to make them accessible and affordable to the community. Conversely, we also believe that fees should have an impact to discourage name squatting and low quality delegates or decentralized applications. For this reason, we are evaluating the current fees associated with delegate and dapp registrations.

In summary, we strengthen the stability and security of the network while the community completes their validations, and hopefully officially launch by the end of April. These are very exciting times, and we are as excited as everyone to experience the next technological revolution. Thanks for the support on testing the public network, you will soon have another version to play with.

Kind regards,

Max, Oliver & Joel

Lisk — The first modular crypto-currency

Scalability has been a problem with crypto-currencies since Bitcoin’s introduction.

Scalability is the capability of a system, network, or process to handle a growing amount of work, or its potential to be enlarged in order to accommodate that growth.

In order to resolve this, Lisk will become the first truly modular crypto-currency by utilizing sidechains as a solution to scalability. Lisk sidechains allow us to implement various features into the Lisk main network simply as Decentralized Applications (Dapps). This not only makes single features optional, it will also keep the Lisk mainchain streamlined in comparison to other crypto-currencies.
From an architectural standpoint it is rational to apply this modularity prior to the official Lisk launch. Therefore, effective immediately, we have completely removed the current implementation of usernames and contacts from Lisk. In the near future, they will be part of the so called “Core Dapps” which bring new features directly integrated into the client user interface (UI).



The first Core Dapp allows users to create a unique identity on the Lisk network involving information such as username, first name, surname, email, forum/chat username, and/or a description. Dapp developers are be able to access the identity sidechain and use the information within their own dapps, e.g. the name of a Lisk account owner.



Alongside with the other planned Core Dapps (messaging, dapp reviews/ratings, contacts), Lisk not only becomes a decentralized network, it becomes a feature-complete and independent ecosystem. Combined with the many dapps by our users Lisk will form a one of its kind hub for the world, empowering the Internet of Things and motivating many industries.

Has already been decided what to do with the XCR the team received at the ICO?

Could they not just burn those coins? Would be good for the people still owning XCR and that way the Lisk team can't dump and devaluate them.

@LiskHQ a question regarding delegates. When we switch from testnet to mainnet will this just be a client update or will we need to do anything else to switch our delegates from one to the other?

First day buy bonus will not be available at launch?

Hey LiskHQ,
When can we expect to see the full bounty numbers (first day buy, Newsletter,translation, sig's, etc....)?
When exactly will they be distributed?

thank you, I have a question about delegates, what conditions are necessary for delegation of my account and I see that in lisk.io 101 delegated've got, does it make sense now be delegated? thanks

I have some questions about pool delegates. How does this work?

Do you vote for a pool and do you get rewards based on the amount of votes you give (lisk you have)? Can you vote multiple pools for more rewards? How many pools are announced?

I guess we will see many pools if the rewards remain this high.

I just checked on all my Validations ICO exchanges and they all match, ie everything went correctly, what happens now? it says to hide all the secret phrase in a secluded place and keep them away from prying eyes. All my address validate. I was able to do at each address one by one Sucecessfully confirmation. how much evidence or proof is enough? what to do now? thank

That's still something you can afford, but yes I'd agree that this money is better spent somewhere else.

Well, would be nice for someone to put together decentralized slack as a DApp.

Oh wait - what about tox?

If you pay for your slack, it will keep more than 10,000 messages. I know you can't read them all, but the community might. You can have private channels for devs.

The community has explained very well the deficiencies of a Slack channel. We will not be moving to Slack as our in house chat application provides our needs in communicating effectively with the community. Come join us! We are very active in out chat. We hope you understand

The public testnet has been opened, so you may now test out your delegates. These past few days have been very instructive as the community has gone far and beyond in testing the public testnet. We highly appreciate those who are actively participating in the testing process. Thank you For those who have not participated but may still be interested, you can read this simple guide to help you set up the delegate and begin forging.

Furthermore, Oliver has provided me with updated numbers to generate keys and validations. Here is the report:


We are aiming for 95%+ generated keys, and hopefully, most will be validated. We are encouraging everyone to validate their keys to make sure you have the correct passphrases. Soon, those who have not generated keys will begin receiving e-mail reminders.

Thanks for supporting us!

Joel

Thanks for your constructive answer.



Okay fair enough for delegate accounts.
What worries me more is the fees per transaction.


Did you mean 0.1% of LISK amount or is it 0.1 Lisk per transaction.

Fair enough I can understand that. I guess this must be high on your priority list right?

oh is  cannabanana a member of your team or can I just mute him right away ?

Thanks

How is that decentralized ?
How fast can the fees be changed ?
How can that work with the current (probably lasting) volatility of crypto markets ?

Don't get me wrong I'm not trying to FUD here
I really want to get my hands dirty and start coding a Lisk based DAPP but honestly a lot of things seem still pretty vague to me. Such as security of a DAPP for the end user and security of the DAPP code itself (tampering etc...) .

I'm quite hesitant to invest my time and efforts into this.

Thanks for your answer.

Who decides of their amount ?

How is this sustainable ? Seems VERY expensive to me.