All digital currencies build their architecture on top of blockchain, but few have actually figured out how to turn the blockchain into a white-label solution for would-be developers.
This is what sets Lisk (LSK) apart from the majority of digital currencies out there. In a never before set of circumstances, LSK has now made it possible for developers to access the blockchain in an intuitive way, allowing them also to launch their own applications on top of the existing digital public ledger architecture.
But a little background on the development of LSK is important to establish why the digital token is so important in the current climate. LSK started as a fork or divergence back in 2016. It was developed by leads Max Kordek and Oliver Beddows who both saw opportunities for a standalone fork outside of the previously established platform, Crypti. Once the fork was completed LSK got running almost right away, establishing itself as a credible open source solution that was very accessible.
LSK was so accessible that at the early stages of its standalone status, a big tech company came knocking on its door. That tech company was none other than Microsoft, the software giant that is now one of the world’s biggest companies. The partnership struck between LSK and Microsoft was geared towards establishing Microsoft’s cloud offering called Azure. The plan was toe stablish a blockchain based protocol that would serve as the backbone for Microsoft’s foray into the Blockchain-As-A-Service solutions that are on the heels of the blockchain and cryptocurrency explosion. This was a huge endorsement for LSK straight out the gate and it helps to explain why the profile of the platform is getting so much attention. More on that below, but first, let’s take a look at how LSK engages the developer’s community and position itself as the platform base of choice.
LSK’s main solution for developers is the offering of a white label sidechain. This white label sidechain provides full open source access to blockchain, delivered in a secure coding environment for developers. Users who tap this solution can build out their very own cryptographically-secure genesis block; this provides the underlying structure for any product that is eventually created on the layered blockchain offered by LSK.
The solution sends developers up the blockchain food chain very quickly using the underlying strength of LSK initial build-out on the blockchain. Thanks to this support, LSK developers can create their own scalable token, fit with all the interoperability needed to engage users and investors alike. Native integration with LSK’s own blockchain architecture gives developers the flexibility they need to scale while still maintaining their fee structure. The close digital connection with LSK’s blockchain also allows for the seamless integration of fees payment from developer to host.
Once the sidechain and token is established, developers are able to make the next logical step in the development process and establish their very own custom-built front office of sorts for their blockchain application. The structured development inside LSK gives developers the flexibility and graft needed to attract users and other interested parties as new applications are built and scaled.
Naturally all this scaling, especially of developers on the platform, has led to a surge in popularity for the LSK digital token itself. Having dipped as low as $11.14 over the last 7 days, the token has started to reassert itself again. On April 25 LSK surged to a high of $13.09. This little flutter north has also brought a few traders and investors knocking on LSK’s door. The token currently has a market cap of $1.2B.