Lisk Launch: First ‘Modular’ Cryptocurrency Hits the Market
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Branded as the “first modular cryptocurrency utilizing sidechains,” Lisk launched v0.3.0 on May 24, 2016. This project seeks to provide scalability to a digital asset ecosystem by using sidechains to allow app development on independent blockchains attached to a main chain. With sidechains, developers can build and experiment with new blockchain apps without bloating the main blockchain with test transactions. Thus, Lisk believes that it has created a system that can both serve as a high-volume transaction network as well as a platform for innovation and experimentation.
This project is funded by a four-week crowdsale that took place between February and March 2016. During the crowdsale, the platform raised over 14,000 bitcoins and 80 million crypti, bringing funding to a total of $6.5 million USD. Kordek says that he and his team plan to use the ICO money to fund continuing development and promotion of the platform. In accordance with this plan, the team has hired PR firm Transform PR to raise public interest about the Lisk project.
Kordek reported that the Lisk price during the ICO was at $0.08 USD, but that a different exchange had been trading “IOU’s” for the coin at $1.70 USD apiece. With a wide spread of possible price points, Kordek says that the coin may keep its position in the top 5 cryptocurrencies, but that he isn’t totally certain.
Expressing his excitement about the launch, Kordek says, “This will give millions of developers the ability to create their own sidechains, particularly around consumer applications, including games, social networks and the Internet of Things, but the same core functionality can also be used to develop and scale business applications.
Images courtesy of Lisk.
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