Watching Lisk Cryptocurrency Pairs Move
Lisk project — platform for creating decentralized applications, which was able to break into the leaders and compete with Ethereum. We will tell you about the project, its potential and prospects in our material..
Reasons for Lisk's success
The creators of the project relied on the maximum simplification of the possibilities of working with their platform and turned out to be right. The main competition for Lisk is the Ethereum platform, so we will compare the two platforms..
Lisk Developers identified the weaknesses of Ethereum and provided a product that solves user problems.
Here is some of them:
- simplification of the work on creating applications;
- finding a solution to eliminate tension on the blockchain.
- Simplifying the work of building applications built on complexity and Ethereum features. Its internal programming language (Solidity) was created by Vitalik Buterin as a distinguishing feature of the project. However, for most programmers, it has become a problem..
To work on Solidity, a training course is required, which means that creating projects on Ethereum will require additional time and financial costs, which is especially disadvantageous for large corporations. The solution to the problem for Lisk was the use of the common language of Java.
2. Elimination of the load on the main blockchain was achieved thanks to the decision to form a project based on sidechain technology (third-party chain). This technology assumes the possibility of creating branches from the main blockchain, thereby forming a working basis. Each project generated on Lisk has its own «branch».
The image shows an example of a fork from the main Lisk blockchain
Such a scheme is the key to offloading the main blockchain by transferring the load directly to the branch itself..
It is curious that this technology makes the Lisk project related to its Chinese counterpart. — ASCH, whose efficiency is also based on sidechain. Working on this principle allows Lisk to prevent network congestion, as well as an irrational increase in the cost of transactions..
A few more advantages of Lisk:
- It works directly from the Swiss Zug, which to this day bears the loud name of a paradise for projects on the blockchain. A significant part of the company's capital is held in Swiss francs: the most stable fiat currency in the world..
- Reporting on expenditures of funds and ongoing work on the project.
You can find all the information in the company's blog.
- Open source. Anyone can independently study the project code, get acquainted with all its changes, the number of programmers.
By such actions, the team tries to make the project open, which it does well..
Dynamics and forecasts
It should be noted that the ICO of the project itself has become one of the most successful in history. Even today, it continues to remain in leadership positions..
Place in the ICO rating
Dynamics Lisk course
During its existence, the project has seen both rapid ups and downs, which were mainly due to technical updates and positive news about the development, as well as annoying falls..
Together with all the projects on the blockchain, Lisk underwent a pre-New Year fever, which was able to bring its price to the highest level. This was followed by profit taking, as well as problems with regulators in South Korea and China..
Since the beginning of the year, there has been a struggle to exit the descending channel, which could become the beginning of the continued growth of Lisk
Despite the stable work of the project team and the regular reinforcement of its position with positive news (you can read it in the blog), it still remains under the yoke of the downward channel of the common cryptocurrency market.
BITCOIN AND ALTCOIN TRADING LIVE- WHAT IS NEXT – LOOKING FOR THE NEXT 10X
Speaking about the state of the cryptocurrency market, today its state is approaching remission. Problems gradually go away, bringing in positive tendencies that can drive away «bears», shifting attention to «bulls».
To understand what awaits Lisk in the future, you need to study in detail its current position in the most popular pairs: LSK / BTC, LSK / ETH, LSK / USD.
LSK / BTC
On the chart of movement against bitcoin, the flat nature of the price movement is clearly visible (flat zones are marked in yellow). In general, given the expansion of the ascending channel, further movement is likely to continue in waves. At the moment, Lisk still has a power reserve (marked with a green circle) to the lower limit.
LSK / ETH
The movement against the ether occurs in a narrowing channel. Lisk has formed several stable levels (marked in red), which may support the price. Power reserve to the bottom is also present (green circle). Further movement within the channel is likely to be with rebounds from levels.
LSK / USD
A contracting triangle is formed on the chart against the dollar, the end of which may become the beginning of a change in general direction (the point is marked with a green circle).
The price has formed several stable levels, which, together with the strength of the reversal pattern, are quite capable of pushing Lisk into an upward channel..
Lisk appears to be an attractive project for investors. An asset can become an effective investment for a long term.
text: Evgeniya Likhodey, graphics: Investing, Coinmarketcup, photo: Shutterstock