Lisk makes it easy for developers to build new dApps with a commonly used developer action.
That is why Lisk has created a blockchain network that provides developers with all the resources they need to develop decentralized applications and get them into the hands of users.
Lisk is a developer’s toolbox
In addition to the developers kit, Lisk is offering a range of services for developers and users alike from hosting, storage nodes, and computing nodes — which you can think of as cloud computing services — to the Lisk dApp store, a place where developers can publish, distribute, and monetize their applications. Lisk is a one-stop-shop for developing and distributing decentralized applications and blockchain networks.
How Lisk works
Developers create their applications in sidechains that are connected to the Lisk mainchain. A sidechain is an application’s private blockchain. Developers can fully customize sidechains to make them the perfect fit for their applications. Through a sidechain, developers can launch a decentralized application with its own token, which can then be traded on a crypto exchange.
Every sidechain needs its own nodes, which are called masternodes. Masternodes are Lisk nodes that can generate new blocks within that sidechain. To become a masternode, the interested party must be approved by the dApp’s creator.
There are also full client nodes, light client nodes, and delegates on the Lisk network. Each kind of node plays an important role in the success of Lisk and maintaining the consensus model.
Lisk full nodes
A full node or full client is a node on the Lisk network that has downloaded an entire copy of the Lisk blockchain. A full client is responsible for validating every transaction and block that passes through the network. Lisk full nodes can be run on Windows, Mac, and Linux operating systems.
Delegates are individuals on the Lisk network that validate transactions and create blocks — a new block is added to the chain every 10 seconds. At the end of a cycle —every 101 blocks, which takes about 16 minutes total — each delegate that added a block during the cycle receives a payment, where the sum of the payment is equal to the summation of the transaction fees that were generated in the cycle — the default fee to send a transaction is 0.1 Lisk.
Delegates must run a full node through Linux. Only the top 101 delegates can create blocks — all other delegates are considered standby delegates. Every delegate starts as a standby delegate, and then, through an election system where every individual who holds LSK is allowed to vote, delegates can get voted for or against, increasing or decreasing the number of votes attached to their address. The 101 delegates with the most votes are the block creators. If users feel that a delegate is performing poorly, then they can remove their votes from that delegate and potentially demote them.
Light nodes are nodes that don’t download an entire copy of the blockchain, which can be data-intensive. Instead, light nodes connect to full nodes to update themselves on the current state of the blockchain. Light nodes are typically integrated into crypto wallets so that a user does not have to download an entire copy of the blockchain, yet, stays up to date with the current state of the blockchain whenever they boot up their light node in whatever form it takes.
Why Use Lisk?