Lisk provides opportunities for building decentralised applications on sidechains using JavaScript. The applications can then be hosted by any cloud platform via a Blockchain as a Service (BaaS) Virtual Private Server (VPS). The platform claims to be an ideal tool for powering the Internet of Things (IoT) devices, especially for those who are reluctant to learn difficult programming languages.

The company was founded by two former Crypti team members, Max Kordek and Oliver Beddows, and has succeeded in raising over $6,000,000 in bitcoin and other digital currencies as a result of its one-month ICO. During the ICO held from February 22 to March 21, the LSK exchange rate equalled 0.0001821238671 BTC.

According to Max Kordek, Lisk can serve as a platform for developing “decentralized storage module, decentralized voting, usernames, identities, trust system, messaging, social networks, sharing economies.” Moreover, it will be able to “infinitely extend the scalability of a digital asset ecosystem,” as sidechains will work independently without affecting the main blockchain.

A few days before the launch, Lisk decided to change its terminology, replacing “dapps” (decentralised applications) with “blockchain apps.”

“Lisk is all about the blockchain and all about applications. Until today, we agreed and followed commonly used blockchain terms. However, we believe Lisk does not adhere to current industry terms, thus, we are creating our own terms,” the official project blog reads.

The team explained that it was important to make these changes before the launch, as “afterwards it will be much more complicated.”

The team also partnered Transform.PR, a cryptocurrency-focused PR company, which has already worked with Ethereum, Factom, MaidSafe, and Dash. Besides, Lisk is building an international community with “ambassadors” promoting the platform all over the world.

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