CEO of Lisk tells all about Block Reward Reduction

CEO of Lisk tells all about Block Reward Reduction

CEO of Lisk (LSK), Max Kordek says all blockchain consensus algorithms have their own strengths and weaknesses points 

Kordek claims the recent block reward reduction is in the best interest of the lisk platform and its users

The newly introduced Lisk LSK Improvement Proposal (LIPS) will address a lot of issues plaguing the network, Max Kordek declared

With the crypto winter showing no signs of going away anytime soon and the price of bitcoin BTC and other cryptocurrency keep making new lows with each passing day, the CEO of the Lisk (LSK)  distributed ledger technology (DLT) project whose native altcoin Lisk currently ranks 35th on the market, has made it clear in an interview with Finance Magnates on December 13, 2018, that the lisk project is here to stay."CEO of Lisk tells all about Block Reward Reduction"

The Lisk Advantage

In a recent interview with Finance Magnates, Max Kordek, the CEO and co-founder of Lisk (LSK) seized the opportunity to counter critics while also shedding more light on the achievements and planned activities of the project.

Created in 2016 by Kordek in collaboration with Oliver Beddows, using JavaScript and TypeScript, Lisk is based on the Delegated Proof-of-Stake (DPoS) consensus algorithm which is more energy efficient than Bitcoin�s Proof-of-work (PoW).

Explaining the reason behind his choice of algorithm, the CEO of the project reportedly stated that he felt the need to make it easier for developers to create highly functional blockchain solution without necessarily learning to code afresh with programming languages like Solidity and Turing, which most of them may be unfamiliar with.

�One of the challenges, I observed in the DLT world was how difficult it was for coders to venture into the space due to the technical sophistication of blockchain.�

Max Kordek claims that Lisk lsk makes it possible for developers to seamlessly build blockchain applications �on top of customized sidechains in JavaScript and TypeScript.�

A Work in Progress

Although the Lisk lsk project has held its own since its birth two years ago, it�s worth noting that the project token has also faced some stormy waters.

In October 2018, one of the Lisk top blockchain developers called 4fryn wrote a post highlighting the issues facing the project, including its unbalanced voting system, dynamic fees and more.

In response to that, Max Kordek made it clear that there is actually no consensus algorithm that is 100% perfect, as all the consensus protocols currently in existence are a work in progress.

�These problems will be addressed through the newly introduced Lisk Improvement Proposals (LIPs). We care about these tasks so much that we created a whole new phase of our development Roadmap dedicated to further tweaking our consensus algorithm, the voting system as well as incentivization of standby delegates,� he said.

At press time the price of Lisk (LSK) sits at $1.38, with a market capitalization of $155.99 million and a 24-hour trading volume of $4 million.

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