May 17th, 2020

On Friday 15th May, Iker Alustiza and Jan Hackfeld, team members of LiskHQ’s Research department, hosted an AMA (Ask Me Anything) in Discord about the recent researches.

The AMA was focused on four protocol roadmap phases: “Security and Reliability”, “Network Economics”, “Network Consensus” and “Network Longevity” and took into account 35 completed LIPs.
They summarized the completed researches in a new blog post.

The first question from Korben was about the enforcement to have at least 0.05 LSK in an account: according to Jan, this will not affect old accounts with less than 0.05 LSK, but any transaction after the hardfork will require that the sender will hold that minimum balance to be valid.

A very interesting question was asked by Ducktank, in relation to how LSK token could gain value through interoperability and sidechains. Iker detailed the answer:
We are considering right now three main ways through which LSK token will gain value in our sidechain/interoperability approach:
– It could be enforced that transaction fees have to be paid in LSK token everywhere in the ecosystem.
– It could be enforced that all the crosschain messages are required to be in LSK.
– To be a block producer/delegate in a sidechain you may need to “stake” LSK in mainchain.
These are not final ideas and we don’t have them properly specified.

Community member reem1x asked if, after the Longevity stage, Lisk will be ready to deliver scalable sidechain-based dApps in JS and Jan specified that this will happen after the implementation of the interoperability phase, but that a sucessful dApp will need a lot of UI development (and not only a working blockchain protocol layer).
By the way, research team is exploring many consensus algorithms for sidechains (e.g., PoS, DPoS, PoA), that might be suitable also for enterprise projects.

Regarding the impact that fees burning will have in “1 LSK per block” condition, Iker reported that the decrease in inflation will be around 15% in an extreme scenario (see the graph).

Reem1x was also interested to know what will be the next focus of this team when interoperability stage will be completed and Jan was enthusiastic to say that there will still be a lot of exiting research focuses “such as light clients, privacy-preserving transactions, interoperability with existing chains (e.g., BTC), smart contracts (as a sidechain plug-in), non-fungible assets, post-quantum cryptography, on-chain governance“.
Research team aims to complete the interoperability research at a similar time as the next mainnet release and then to focus on some main topics mentioned above.

You can read the whole conversation in #general channel in Discord: https://discord.gg/PyEkEDB

Leave a Reply

Your email address will not be published. Required fields are marked *

*

*

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.