What is Lisk?
To top it all off, all of these cloud functions are run by the users and Lisk delegates who are paid through a built in invoice system (or by the network itself in the case of delegates) and paid in LISK (Lisk’s own cryptocurrency) or BTC.
Lisk uses the Delegated Proof of Stake (DPoS) consensus mechanism. This method of consensus was originally created by the BitShares team.
DPoS is based on delegates creating blocks, and the delegates are trusted accounts. The users elect certain accounts be “Active Delegates”. The top 101 delegates with the most votes will create the Lisk blocks. Other delegates that are not considered Active Delegates are considered to be “Standby Delegates”, and have the ability to move up to the top 101 list by receiving votes from other Lisk users. All Lisk users have 101 votes available to elect their favorite delegates into the top 101 list. The weight of each of the 101 votes is directly proportional to the amount of Lisk the respective user has in the wallet the votes are cast from. This total amount is shown on the delegate list as an “Approval”, and is listed as a percentage of the 100 million LISK available that is voted for that delegate.
- March 21st, 2016: Lisk ICO ends and raises 14,009 BTC and 80,742,575 XCR
- May 24, 2016: Mainnet for Lisk becomes live
- May 23, 2017: Lisk market cap surpasses $100 million