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Lisk Raises $6 Million in ICO for Building DApps in JavaScript

Lisk, a cryptocurrency with the promise of making it easier for the worldwide developer community to build decentralized applications (DApps), has concluded its ICO and raised over $6 million. The appeal of Lisk is its ability to use JavaScript to create DApps – JavaScript is the most popular language on Github and is widely used in web development.

The ICO raised 14,079 BTC (via direct BTC sales and ShapeShift sales via other cryptocurrencies), and 80,696,177 XCR (Crypti) which total to $6.15 million according to the data from Coinmarketcap at the time of publication.

Lisk ICO

Lisk provides its own APIs for use by developers. It runs each DApp as a separate sidechain of Lisk and in the future plans to migrate to a Lisk VM, similar to Ethereum. Through its APIs, Lisk is also targeting the Internet of Things (IoT) space, which is finding increased interest among developers and startups especially the interaction of IoT with blockchains.

The project has already been deployed to Microsoft Azure’s ‘Blockchain as a Service’ (BaaS), and it was one of the projects highlighted by an official Azure blog post. The source code can be found on Github. It also makes it easy for developers to connect the tools they are familiar with, such as github, making the transition from building web apps to DApps a smooth one.

Lisk uses a proof of stake model to secure its blockchain, and considering the potential size increases and hardware requirements, nodes might do well to run off of Azure instead of their own hardware. The proof of stake model used is a Delegated Proof of Stake first pioneered by another cryptocurrency Bitshares. Lisk retains the initial default setting of 101 delegates in Bitshares. These delegates are elected by the coin-holders and need a threshold to get elected. The transaction fees is shared among these 101 delegates.

Origins

The Lisk project has been carved out of Crypti, another cryptocurrency, when some members of the founding Crypti team disagreed with the direction of that cryptocurrency. The team behind Lisk is Max Kordek and Olivier Beddows.

Distribution

A total of 100,000,000 Lisk will be distributed The distribution is as follows:

  • 85% for ICO participants
  • 8% for the core team
  • 4% for campaigns and bounties
  • 2% for advisers and partners
  • 1% for social bounty campaigns

The inflation rate is 5 LISK per block, which gets lowered by 1 every year until it reaches a stable block reward of 1 LISK per block. The supply is uncapped, but the inflation rate decreases over time.

3 Comments

March 21, 2016 at 7:45 pm, phoenix said:

I don’t even see Lisk on Coinmarketcap

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March 22, 2016 at 12:46 pm, Sid Kalla said:

It’s not listed on Coinmarketcap because there is no exchange trading it – this was just the ICO. The current ETA for Lisk becoming liquid and trading on exchanges is April 11 tentatively, so that’s when it will be listed on exchanges and you should see it on Coinmarketcap then.

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January 06, 2017 at 2:10 pm, Smith + Crown: A Year in Review (2016) - Smith + Crown said:

[…] foundational protocols launched to much acclaim, including Lisk and Waves. ICOs and app tokens raised millions from investors around the world. Large banks moved […]

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