Official Lisk Mainnet Launch - End of AprilUp 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 ValidationAs 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.
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How to Generate your Lisk ICO Passphrase-
Verifying your ICO Generated PassphrasesPaving the way for a bright futureAfter 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-CurrencyLisk 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 ChecksumCrypto-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 DesignLisk 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 FeesWe 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-currencyScalability 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.
