Blockchain News
need to change much more”.
Lisk’s relaunch includes a modified front-
end design, dashboard, and wallet. Kordek
explains that one of the main objectives for
the changes is to enhance user accessibility
for the newcomers to the crypto space, as
well as for the more experienced users. While
describing his company’s rebranding process,
the director said that it started off “like a
tech project”. However, it then progressed
to being more about “enabling people”
by allowing them to easily incorporate
blockchain technology into their existing
business practices.
Forked From
Blockchain
The
Crypti
Lisk’s public blockchain platform was
introduced in early 2016 and began as a
fork of the Crypti blockchain. Soon after the
fork, an ICO was launched by its founders
to raise funds for its development and also
to determine its distribution. Through their
ICO, the company was able to accumulate
14,000 BTC and this helped
Lisk’s
mainnet go live, allowing it to be traded on
cryptocurrency exchanges.
Lisk’s developers want it to become a
modular cryptocurrency. This type of design
places every Blockchain App on a separate
“sidechain”. The Lisk development team
describes sidechains as “an independent
cryptographic ledger” that latches onto the
main blockchain, without affecting network
speed and security. Moreover, sidechains
are created for the purpose of maximizing
scalability as more apps are added to the
network. Notably, scalability issues have
been a major concern with Bitcoin and even
the Ethereum platform.
Plans To Improve Accessibility
Lisk’s developers recently announced the
launch of a fund that will be used to create
“high-quality sidechains”. In fact, Kordek
stated that he has set aside $50 million
(1,700,000 LSK) for the project and expects
more investments to pour in, some even
around 500,000 Euros. Kordek also said
that his company will be trying “to attract
new people, and these people don’t know
anything about blockchain. So we also have
to find ways that we can teach and educated
[sic] them about this technology”.
Based on these new developments, Lisk’s
team seems to be focusing a lot on the
academic side of crypto. In order to help
increase awareness and understanding of
distributed ledger technology, the Lisk group
will be launching a blockchain “academy”.
While discussing this initiative, Kordek
remarked that Apple taught everyone how
to use the iPhone. Therefore, his company
wants to educate people about blockchain
and its potential use cases while also getting
them to start using Lisk’s technology.
Omar Faridi
[email protected]
Core Magazine
17