Lisk (LSK) is days away from what the project calls “the biggest milestone to date”, the launch of Core 1.0 on the mainnet. The event was announced a few days ago, and the Lisk team sees it as one of the biggest development efforts to date.
“This is our first release that has included our new and greatly improved Quality Assurance (QA) process. The Betanet phase lasted several months to ensure top code quality and stability; we also successfully executed two Testnet migrations,” Lisk wrote in a recent blog.
The launch of the updated version to all Lisk nodes is scheduled at around 11:00 CEST, on Wednesday, August 29. The effect for the Lisk network would be similar to a hard fork. One of the immediate effects is that Huobi will suspend temporarily the deposit and withdrawal service, until the network proves its stability.
The Lisk network relies on 101 Delegates to verify the state of the network. This is a system of semi-decentralized consensus that precedes the systems of TRON, EOS, Tezos, and other similar approaches. One of the criticisms against Lisk was that the voting mechanism created a practically permanent list of delegates, due to their high voting power.
Currently, the Lisk network has 101 active delegates, and 1,614 delegates waiting on standby.
The Lisk project has been among the top 10 most active projects on GitHub, based on data from CryptoMiso. However, the Lisk project is not in the most active phases of its development, as commits have slowed down over the past months.
The LSK market price has suffered during the bear market, though not as much as more overheated assets. LSK is down about 46% since its peak prices, as shown by Onchainfx.com.
This relatively stable performance reflects the fact that LSK never jumped as high as expected, not fulfilling expectations for triple-digit prices. LSK reached a peak of $39.31 on January 7, then the price started to slide in line with the market trend.
LSK grew by about 30% in the past seven days, reaching more that $5 on Monday noon (UTC). Over the past three months, LSK has slid from nearly $10 in the latest bout of sell-offs.
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