Ethereum-Competitor Lisk Unveils Roadmap
The multi-platform blockchain project Lisk has just released its developmental roadmap, which will cover five milestones that the team will build over the next few years.
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Lisk Roadmap Reveals 5 Key Phases
The Berlin-based Lisk project (Lisk.io) has been making waves within the cryptocurrency community for being a possible rival of the Ethereum project. Lisk is a public blockchain platform created by Max Kordek and Olivier Beddows that seeks to create an environment of decentralized applications build around its distributed ledger.
Last week, the development team revealed its project roadmap for the Lisk protocol and community. The technology is technically a fork of the Crypti platform and aims to be the first successful modular cryptocurrency.
With Lisk, every participating project relies on its own sidechain with each chain being secured by 101 masternodes who are chosen by the applications designers. Alongside this, the system uses a delegated-proof-of-stake (DPoS) mechanism within its network.
The current roadmap separates development into distinct phases, which include: Inception, Resilience, Expansion, Ascent, and Eternity. The various goals have no deadlines or expected time frames as each implementation is more of a long-term milestone. Oliver Beddows, Lisk CTO, explains:
The given plans are intended to be long-term, and we estimate that they will take at least a few years. Due to the dynamic nature of software development, we don’t want to forecast any dates or deadlines from now. It should also be noted, milestones within a phase might be worked on in parallel, and once we establish development speed through a constant release cycle, we will be in the position to give more accurate timelines.
When the LSK ICO raised $5.8 million USD, it was the second biggest cryptocurrency-related crowdfund at the time until it was surpassed by Waves, and the record-setting DAO crowdsale.
The Lisk project began gaining traction after it went live on the mainnet on May 24, as popular exchanges began supporting its native token. Currently, Lisk has roughly a $25,000,000 market capitalization and a LSK token is worth about 25 cents at the time of writing.
Lisk says the project is currently in its inception phase where developers are focused on stabilizing the project and building up its developmental tools. Once complete, the team will move past Inception and begin creating blockchain applications. The Resilience phase will focus on creating a modular app SDK, a daemon, an application versioning mechanism, an application panel, and a delegate marketplace.
CEO and founder, Max Kordek, explains:
Resilience is definitely the biggest phase of all, with a total of six major milestones, and is intended to set Lisk apart from any other cryptocurrency on the market.
Enterprise & Governance Ready
The rest of the phases such as Expansion, Ascent, and Eternity will give the project its final shape. This includes standardization, smart contracts, platform-agnostic development, and then preparations to become enterprise ready. By the beginning of the Ascent phase, the team expects the platform to be ready to support institutional financial applications. However, to realize this phase, Lisk will pursue further optimization, upgraded security, and scalability.
Finally, as all of the above phases are completed by the development team and community, the project will then move onto Eternity and focus entirely on governance. Developers will introduce a voting mechanism and encourage “active involvement of the Lisk Community in the activities of the ecosystem.”
What do you think about the Lisk Network? Let us know in the comments below.
Images courtesy Lisk websites, and Shutterstock
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