The goal of the Lisk Foundation, the organization behind the Lisk cryptocurrency (LSK), is to make blockchain technology more accessible by providing a framework that allows more companies to adopt the technology.

Lisk is a decentralised network that offers the possibility to develop and distribute blockchain applications based on the JavaScript programming language. Thanks to Lisk, programmers can develop their own blockchain application on a sidechain connected to the Lisk network, including their own cryptographic token. Because applications are published on a side chain and not on the primary Lisk blockchain, organizations benefit from unlimited flexibility in implementing and adapting to their decentralized applications.

How To Buy LSK

So you’re interested in buying LSK? Currently, there is no way to buy LSK directly with fiat, so the best way to buy LSK is to first purchase Ethereum, transfer it to your chosen trading platform and change it to LSK. We’ll show you how.

1. Firstly you will need to visit Binance and create your account.

2. Once your account has been created and confirmed, log into your Binance account. Once you have logged into the account, go to the menu, click on the funds section and then deposit on the drop down bar.

3. Once you’re on the Deposit section, click the drop down menu labeled “Select Deposit Coin” and look for Ethereum, or type ETH and select.

4. This is your Ethereum Deposit Address, we have chosen Ethereum instead of Bitcoin due to the lower fees and transfer times. Next we’re going to look at buying Ethereum and depositing it into your Binance account.

Buy Ethereum

To buy Ethereum, we’re going to use an exchange called CEX.io. Here you will be taken to the purchase page, where you can buy your Ethereum.

1. First change the Buy option from BTC to ETH for USD and then choose your amount.

2. When you have chosen the amount of Ethereum you want to purchase (A minimum of 0.05 ETH is required), you will need to register and confirm your CEX account and payment details.

Once that has been confirmed and the ETH has been deposited into your account, we will then need to move it over to Binance.

3. Select the Withdraw option at the top of the site and select Ethereum as your currency. You will then be given a field, where you will add a wallet. This is where you can transfer your money to Binance.

4. Go back to your Binance Account and copy the alpha numeric code under your Ethereum Deposit section and paste it into your Ethereum Withdrawal section on CEX.io. Confirm that this address is correct and press “Withdraw“.

Your Binance account will now be credited with Ethereum.

Purchasing LSK

1. Now you’re back on your Binance account click the Exchange section and choose Basic. This is the Binance trading platform.

2. On the trading platform, select the ETH section and use the search function to search for LSK/ETH and confirm.

3. On the LSK/ETH trading section you can now choose how much LSK you want to buy with your Ether. Once you have chosen your amount, press Buy LSK and place your order.

Once your order has been fulfilled, your account will be credited. Congratulations you’re now the proud owner of LSK.

What is Lisk LSK?

Nowadays we have Apple’s App Store and Google Play Store. Both centralised solutions owned by companies for centralized applications. The Lisk LSK Foundation stands for a decentralised future. To achieve this, Lisk LSK strives to make blockchain technology accessible to everyone by setting up a blockchain application platform for users and developers.

On May 24, 2016 the Lisk LSK blockchain network went live with its own cryptocurrency called LSK. From that date, the Lisk Foundation has been working hard with its contractors against the release of their Software Development Kit (SDK). The SDK is a framework written in JavaScript to implement your own blockchain network next to the head Lisk LSK network. Decentralized applications can be built on top of your own blockchain.

Lisk LSK’s possibilities are endless, such as developing platform independent social networks, messengers, games and so on. Everything in your own blockchain network including associated token, fully decentralised, and all without the hassle of complicated consensus algorithms or peer-to-peer network protocols.

Lisk price / LSK value

In the period January to March 2016, the Lisk Foundation pre-sold the digital LSK currency during an Initial Coin Offering (ICO). The total revenue of the ICO was 14,000 Bitcoin (BTC). In exchange for this 14,000 BTC, the Lisk Foundation issued 100 million (100,000,000,000) LSK tokens. The Lisk network went live on 24 May 2016.

Although the blockchains of course do not coincide directly, Lisk’s concept is comparable to that of Stratis: both technologies want to increase the adoption of blockchain technology by enabling the development of decentralised applications in a traditional programming language. Lisk does that in JavaScript, while Stratis does it in C#.

The Lisk blockchain generates a new block every 10 seconds, allowing transactions to be executed very quickly: as a rule, this means that a transaction is already visible within 10 seconds and is indelible after 2 minutes. The costs of carrying out a normal transaction are LSK 0.1 at the time of writing.

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