Lisk’s goal of getting a broader spectrum of developers into its fold is to help it meet competition from the likes of Ethereum and NEO, which both act as dapp-focused sites, among other issues. In order to get this dream closer to life, Lisk provides its users access to its Software Development Kits (SDKs) and side-chains. In general, sidechain operates as a separate blockchain connected to the main blockchain using a two-way gluing system. In this way, digital assets on a variety of chains are essentially interchangeable, with no adverse effects on their speed or output. At the same time, tokens can be quickly passed and linked to these chains. For developers, the use of sidechains provides a greater degree of flexibility when dealing with asset monitoring, consensus processes or network scaling.
Lisk runs its own Mainchain core chain, with its team and 101 delegates in charge of its defense. Developers may easily set up their own blockchain networks as sidechains, without the possibility that the Mainchain may be affected by the glitches that could occur on them. Consensus algorithm is based on Delegated Proof-of-Stake (DPoS) while side-chains serve as the databases required to run the built applications. The LSK tokens on the network are used to vote for nodes that validate transactions and generate new blocks.
The total supply of coins is currently LSK 127,136,218, of which 111,901,077 are in circulation as of November 2018. The market cap currently stands at USD 315 million, down from more than USD 4 billion at the beginning of 2018. LSK coins are available for purchase/selling on big crypto exchanges such as Polonex.