all you need to know to get started with the Lisk blockchain platform
For further reading, we recommend reading the official Lisk FAQ.
It really depends where you are from. We’ve made a list of the most common places to buy Lisk (most are exchanges that will have many cryptocurrencies to trade). For a complete list you can take a look at CoinMarketCap markets.
We encourage people to use the official Lisk wallets to store their tokens. Never store a big amount of tokens on any exchange.
You can use either the Lisk Hub or Lisk Nano (not officialy supported anymore). Transfer LSK from the exchange to your new wallet and your tokens are stored safely on the Lisk blockchain. Make sure to write down your passphrase and keep it somewhere safe!
Yes, you can stake your LSK to support delegates that align with your goals of how you want the platform and community to evolve. This mechanism is called ‘voting’. Different delegates will have different ways of contributing and some delegates payout some of their forged rewards to their voters, other use it for development purposes.
You can read more about Lisk Delegates on reddit or the official Lisk FAQ. Make sure to do your own research on which delegates align with your beliefs on how delegates should be contributing to the platform and community.
Lisk is utilizing the Delegated Proof of Stake consensus: the network is secured by 101 active delegates confirming transactions on the blockchain. The delegates are voted in the active spots by Lisk holders who hold the LSK tokens in their wallets. Delegates are forging LSK: confirming transactions and creating blocks. For each block they forge, they earn 4LSK. Most delegates share a percentage of their income. This would be your voting reward.
There can only be 101 actively forging delegates at any one time. There can be an unlimited number of delegates in reserve, however, they require enough voting weight to become an ACTIVE delegate. To know how much voting weight a delegate needs to become active, check the explorer and check the voting weight of the delegate currently on spot #101.
LSK equates to “voting weight”. Your voting weight is equal to your LSK amount. Your voting weight is applied to each delegate you vote for INDIVIDUALLY and not shared across the group. Therefore it is in your best interest to use the full 33 votes per 1 LSK fee.
You can vote as many times as you want. However, to achieve the maximum number of supported delegates (101) you should vote 4 times. Each voting round will cost you 1 LSK and is for a maximum of 33 delegates. Use the vote manager from Lisk.builders to automate this process.
If you plan to hold your LSK for a long period of time, then it makes sense to maximize your ROI by having the full amount of reward sharing delegates. If you are holding LSK short term it may not be worthwhile as (depending on your total LSK holdings) it could take months to see 1 LSK returned.
This knowledge base will be launched when we have more info on Lisk Core, Lisk Commander and Lisk Elements 1.0
Yes! We will soon release our ‘Sidechain Marketing Kit’ with free marketing materials to get you started. Please contact us if you are interested in marketing materials right now or want custom marketing materials.
We can make: websites, HTML5 banners, advertisements, business cards, flyers etc.
Sure you can. Contact us for more information. We have advertisement space in our footer and blog pages.