As I understand it, the fact that a) Lisk uses Javascript for DAPP development and b) Lisk DAPPS will each run on their own sidechain, are 2 great advantages of Lisk over Ethereum. Are there other advantages? And to be fair and balanced, what about disadvantages of Lisk vs. Ethereum?
Also, are DAPP sidechains secured by the Lisk network, or do the sidechains need to have their own block signers?
Thanks in advance. Very exciting project!
Advantages:- Lisk offers a whole package for dapps, i.e. frontend and backend. That means you also have a decentralized hosted frontend of the dapp instead of accessing it through a centralized server which is often the case at Ethereum. (see:
Gnosis &
Augur)
- Not so sure about Ethereum here, but Lisk runs on all devices. On a 9$ C.H.I.P. or a Raspberry Pi. And this is enough to secure Lisk AND several sidechains! I also had it running on a 64MB VPS once.
- Our client, I hope you saw it. In comparison to Ethereum we have a GUI developed and maintained by the core team. It will always have the latest features and is really simple to use.
- Inbuilt Dapp Store which lists all available dapps on the network and will be enhanced greatly in the future.
Differences:- While Ethereum is a smart contract platform, Lisk is a dapp platform. That means at Ethereum you can only develop single smart contracts which costs real ETH for every step, and you need to combine several contracts to form one dapp.
- You can only develop the dapp backend on Ethereum, on Lisk you can develop the whole package (see above) of frontend and backend.
Disadvantages:- At Lisk you can't develop smart contracts which are always being performed by all miners on the network.
- Headstart of Ethereum and we don't have a Vitalik.
One other question. Have you secured any exchanges for Lisk to trade on after launch? Thanks.
We are public since two weeks and have generated quite a buzz already. I'm sure we will be listed on several ones soon after the launch. We will actively pursue this 1-2 weeks into the ICO.
To name a few we definitely will contact:
- Poloniex
- Bittrex
- BTC38
Thank you for your response. Just one thing I don't think was answered -- do sidechains need their own block signers...or are they secured by the main chain? Thanks again!
Every sidechain is secured by their own block signers, also called "master nodes". There can be a total of 101 sidechain master nodes and they are also based on the DPoS consensus mechanism. Our long-term goal is to create a marketplace for plug 'n play sidechain forgers. That means everyone can get a list of all sidechains running on the Lisk platform, and individually apply for being a forger of the sidechain. The exact functionality would have to be designed properly, but roughly this is the plan. This way people can even earn a living by forging many sidechains.
Also, if one dapp really goes through the roof. Then I'm very optimistic that the forgers of this sidechain will earn a lot of money. Same applies, if someone develops a JavaScript crypto-currency on a Lisk sidechain with some unique selling point.
Could you go into more detail on what kind of technical and in-depth details Lisk is lacking?
Sure. In particular:
1) How do dapp chains and the main chain interact?
2) How do they solve the halting problem? Furthermore, how are transaction fees calculated?
Thank you. We will add these topics as soon as possible to the white paper. I also sent you my Skype handle via PM. I think Saturday we will have an updated white paper, would be great if you can take a look then.
The whole Lisk network is currently running in a testnet, which gets reset from time to time. That means these LISK you owned are only testnet LISK.
The last reset of the network was on the 10th February when we introduced
Lisk v0.1.1. As it was mentioned in the blog post.
Please note: With the release of 0.1.1, we have reset the testnet, so any previous balances will be gone. To receive more LISK, please use our faucet.
Once Lisk is officially launched this obviously will not be the case anymore. We will work with blockchain milestones in the future, which removes the need for resets. We are familiar with this update procedure, however it takes a bit longer to implement with each update. Therefore we are resetting the testnet at the moment with every update, to allow faster development.
You can use our
faucet again in order to get some LISK and play around with our client.
