In 1978 a technology called LaserDisc came on the market, it was technologically superior to its competitors VHS or Betamax, but yet there is a great likelihood you never heard of it before now, why?
Introductions:
For those who don't know Lisk is a blockchain cryptocurrency, which like others, is a platform for developers to program decentralized applications (DAP). I think Lisk is great and could revolutionize the internet, in this article I will attempt to explain why.
Blockchain?
I'm going to assume that if you are on Steemit, you at least have a cursory understanding of Blockchain technology but if you need to know more, please check out this great TED talk on that topic:
What is a DAP, what is Lisk, and why should I care?
Why Should I Care?
First things first, we should care because blockchain has begun to change the way we store and share data, and it is going to completely revolutionize how we use the internet.
With blockchain technology we for the first time have a location to place massive content stores, like video, music, or literature, but without needing huge servers in a massive company to oversee that content. More importantly, once we do away with the centralized storage, we do away with Big Brother monitoring our use of that data, and selling our privacy for their financial gain. If you don't know what I mean, Facebook owns your posted photos, Google tracks your searches, Youtube records your likes, and this information is sold to advertisers, so they can target you with specific products based on your internet history.
Even if you don't care about privacy, what about censorship? Youtube can pull your post if they feel its too, fill in the blank, or more commonly they might just withhold your ad revenue because the content was "too political".
I do not like these features of our current internet, and you shouldn't either, but these issues are resolved if the new internet moves to a decentralized platform like Lisk.
What is a DAP?
Steemit is the perfect example of a decentralized application (DAP). It is stored on the blockchain and is immutable, which is a fancy way of saying unchaning over time. It is run by the community of members, not some corporation seeking their own financial success. Your content, is your own, and you get paid for quality contributions directly. Sounds great right? I guess so, or you wouldn't be here.
What is Lisk?
Lisk is one of a few platforms positioned to become the foundation of the new internet.
I believe that DAPs like Steemit are the beginning, but that in the near future all the best sites will be decentralized similarly. The only thing the application creators require is a place to build these DAPs, and Lisk could be that place.
Why Lisk?
- Lisk allows programmers of applications to write in a commonly known coding language: JavaScript
- Other platforms that do no use JavaScript and may require programmers to use a proprietary coding language which means they have a smaller pool of programmers to make amazing applications on the platform.
- Lisk allows each DAP to be its own side chain, this allows the main chain to go on without scalability issues. Think of each chain like a straw of grass in the ground, together they make the lawn, but individually they are unique and self-sufficient.
- Side chains allow the main chain to continue running in the event of a coding error on a side chain. - Lisk uses something called "Delegated Proof of Stake" consesus algorithm, instead of Proof of Work.
- Lisk is currently in the process of completing a rebranding, which may garner positive attention and price action.
- Lisk is about $5.00 USD per token, NEO is ~$30, Ethereum is ~$300.
Conclusion:
I am hopeful about this project and I really believe that big things are coming for Lisk. I am a holder and I do like the financial upside I see with this cryptocurrency. I believe the price will likely go up going into 2018 and I see a very bright future for this product.
Having said that if anything I have said here has peaked your interest, I stronly encourage you to do your own research. While I expect DAPs to change the future of the internet, and while Lisk could be the foundation that revolution is built upon, it could also fail due to non-acceptance.
In 1978 I might have told you invest in this great new technology LaserDisc. I might have rightly said "it is objectively higher quality than VHS or Betamax", and "don't worry the high prices of the players and media will come down once production ramps up", but I'd be wrong.
"Markets can remain irrational a lot longer than you and I can remain solvent."
A. Gary Shilling, Forbes (1993) v. 151, iss. 4, p. 236.
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Stay tuned.