Hello everyone, I am a long time reader of this forum..invested into ETH back around Sept of last year. I am wondering is it worth selling some of my ETH or all and buy LISK?
I have some questions regarding this project first thank you, :
1. What advantages does LISK hold over other crypto coins in terms of value - coin supply etc ?
2. What advantages does LISK hold over other coins in terms of tech? - how innovative is this coin? - as innovative as ETH?
- sorry for stupid questions. This is my first Post here on BTC talk and looking forward to building a strong community. I really like the idea and name of this coin. Just have some questions that need answering first.
Thanks so much guys.
Hello LiskKing,
1. In comparison to other crypto coins on the market we have the huge advantage of a strong leadership and $8M in fundings. Only a handful of projects have this, I think right now there is only Waves, Ethereum, and all Ethereum sub-currencies like DigixDAO. That means we are in the same comfortable situation as other top projects. We can properly develop and promote our platform for many years.
An advantage in the coin supply is not relevant. We have 100,000,000 LSK right now and it's rising slowly after community delegates are in the top 101. I don't see any advantage in a coin with 10M or 1BN coins.
If we speak about market cap and volume we have a lot of advantages. We are in the top 10 that means we get a lot of attention and publicity. Everyone into altcoins knows Lisk and developers see Lisk as a big enough platform to build on. With a daily volume of a few millions consistently since launch we are also a good project for traders. I think these numbers will only grow the more users and apps we get, but that is of course only speculation.
2. In my opinion Lisk is extremely innovative on a meta layer. So innovative that it attracts a lot of hate and FUD. We are utilising sidechains as the first cryptocurrency ever, we are the first platform ever for blockchain applications written in JavaScript. It's important to know that Lisk is using the best parts of other projects (DPoS, sidechains, JavaScript) in order to build an innovative mix. In itself these parts are not extremely innovative, but sophisticated technologies. The real innovation will come with the blockchain apps build on top of Lisk. The Lisk platform is an enabler for innovation by using technologies which were built by the brightest minds on earth in the past years.
Additionally, we put a lot of our focus into the mainstream and consumer market. This might not manifest itself at this moment, but in 1-2 years people will see how all the different puzzles come together.
JavaScript: Opens up blockchain technology and decentralization to the masses.
Sidechains: Makes an app independent of the system and lets the whole system scale massively in an easy way. If it's not enough the complicated stuff can always be integrated later on.
Web user interface: Changes can be introduced very quickly, new features can be added easily by nearly every web developer.
Application directory: Establishes Lisk as an alternative to Apple's App Store or Google's Play Store, giving the users a direct overview of all apps running on the Lisk network.
DPoS: Makes the whole platform and ecosystem self-sufficient. In a more centralized (but therefore faster) way than a DAO, projects can be funded, causes can be supported, and the community as a whole with the 101 delegates in front of them can decide on where to spend the money. In the coming years the decision process can always be switched out for a completely decentralized solution.
It's important to know that Lisk is just at its beginning. We launched two weeks ago and a lot of work until now just went into managing things and getting the necessary processes in play. Once everything is established the development will be faster and more efficient. Additionally, there might be a lot of uncertainties at this stage. But that's always the case for new and innovative projects. E.g. if someone says that an app can only be done with smart contracts, we can integrate them into our sidechains. If someone says that there is no synergy between Lisk apps, there can always be bridges built creating synergy. A lot is moving, the current technical state about Lisk says nothing about the future Lisk.
