As useful as the Bitcoin blockchain may be, there is still room for improvement – at least for the time being. Although it is designed for decentralization, it is limited to a single strand. For the development of apps it is therefore only suitable to a limited extent – Lisk wants to remedy this.
Entering the crypto-universe in the Bitcoin loophole review
Max Kordek, born 91 in Aachen, is co-founder of Lisk and Lightcurve. As he once told us in an interview, he always wanted to do something in the fields of electrical engineering, information technology or investment. After he had tried electrical engineering from 2011 to 2015, he successfully broke off and found the connection between his Bitcoin loophole review preferred fields of employment in the blockchain.
Kordek undertook the walking attempts in mining. Since the competition in the Bitcoin environment was too great, he started mining Litecoin. Because the mining process is quite loud and heated, he looked for alternatives. After a short detour via NXT, Kordek came to Crypti.
The basic idea that would later make Lisk successful was already there. The goal of the community was to develop decentralized apps, dApps for short, on sidechains. Afterwards he was responsible at Crypti for marketing, growth hacking, community support, support, frontend development, design, user experience and idea conception.
From Crypti to the news spy scam
Although Kordek was convinced of the Cryptis concept – he was not satisfied. Together with Olivier Beddows he suggested some changes which were only partially accepted by the community. According to the blog post seen here at onlinebetrug, this was mainly about the disclosure of the source code as well as some personnel changes. Unsatisfied with the status quo of the news spy scam project, Kordek and Beddows decided to start their own project.
It is obvious that this led to distortions with members of Crypti. Nevertheless, Kordek and Beddows tried to make their departure as smooth as possible. They accepted Crypti for the ICO of their new project, although they considered it dead capital. Finally they forched Crypti and Lisk entered the crypto ecosystem.
The two then reworked the software, updated it and redesigned the whole thing. Combined with clever marketing on all channels, this marked the beginning of Lisk’s triumphal march. So it was above all the social media campaigns that pushed the project. There were rewards for followers on Facebook and Twitter, and incentives to participate were created as far as possible. After all, they hired a law firm for legal protection – Kordek apparently did everything right.
The idea of sidechains
First of all, Lisk is a crypto currency with its own blockchain. On the other hand – and this is much more important – Lisk forms a framework network for decentralized applications.
The delegated Proof of Stake
The developers use a special consensus procedure to verify transactions. The Delegated Proof of Stake is a modification of the proof-of-stake mechanism. Stakeholders decide on the „delegates“ who validate the blocks within the system.
Furthermore, the platform is designed to allow developers to participate directly in possible profits. So if you develop an app for selling goods, you can immediately program it to benefit from the sale. A separate currency was necessary to make (micro)transactions possible on the app.
Lisk is one of Germany’s success stories
This well thought-out concept ultimately convinced many investors. After the conclusion of the ICO on 21 March 2016, the developers were able to collect 14,009 BTC and 80 million XCR from a total of almost 3,900 supporters. A sum (at that time equivalent to about five million euros) for which forking was certainly worthwhile. If you want to see Max in color, you can do that in our video interview.
„I think it’s great that in Germany – illustrated by the success of BTC-ECHO – there is so much interest in blockchain technology. This gives me hope that this time we won’t miss the big chance, as we did in the 90s with the advent of the Internet and that our country will have a new Inno