Lisk: In the Spotlight Again (Post ICO Review)

Lisk is one of the "older" ICO projects, and like many other tokens, its price peaked again and again in 2017. But how is this project faring a year after trading started?

If you want to see what a solid ICO-funded startup looks like, take a look at Lisk. In may 2016, the company raised funds in Bitcoin. Since then, Lisk, which is registered in Zug, Switzerland, is preparing a financial report every month. This lean startup is using up around 76,000 CHF for its operational costs every month and sits on cryptocurrency assets worth around 65 million CHF, subject to market fluctuation. And if that is not enough, Lisk has yet to claim its Bitcoin Cash.

The Lisk ICO

The Lisk ICO was one of the more successful crowdfunding campaigns. Lisk gathered upward of 14,000 Bitcoin or around $9 million at the time of the campaign. The funds have appreciated significantly. But this makes Lisk a rather small ICO compared to the DAO, which gathered $164 million, and projects like Civic, which gathered up more than $30 million.

The Lisk Project

The working software project of Lisk is simple- a platform to build distributed apps (dapps), written in JavaScript. The dapps will run on a side chain and not clog the main network.

The platform may be available at the end of this year, with the great advantage of using JavaScript, a well-known language that would immediately attract developers. And currently, there are only a handful of projects offering platforms, all of them competing for a recent launch. Which one wins out and becomes the go-to place for well-used applications is a matter of luck and marketing.

But the biggest advantage is that developers won't need to learn Solidity to use the Ethereum network. And there would be a much bigger market compared to Stratis, which would offer a platform for building in C#.

For now, participating in the Lisk project would require the LSK token. For developers that did not get involved in the ICO, they would need to be comfortable with Bittrex or Poloniex to acquire some LSK. Otherwise, LSK tokens are not available on services such as Changelly or Shapeshift.

Lisk Market Price

The LSK token exploded at the beginning of September, after a stagnant period between $2 and $3.

 

Its market cap is within shouting distance of the big Chinese projects, NEO and OMG, and it has risen from the pack of other recent project and ICOs, some of which are struggling to remain in the top 50.

The Lisk Team and Community

For its everyday operations, the Lisk team is hiring to turn itself from a concept company to an operational entity, complete with an office manager. The company offices are based in central Berlin.

Max Kordek looks like the public face of the development team, with recent interviews and expert opinion on the world of cryptocurrencies popping up every few days. The Lisk project is adept at PR, attracting attention to itself regularly. Its Facebook and Twitter channels reveal highly interested Asian investors.

Mike Doty is another famous name in cryptocurrency projects. He moved on from Crypti, the predecessor of Lisk to consult and lead the Ark project. So he is only tangentially related to Lisk, but his name alone could add to the credibility of the project. There was talk of cooperation between the projects.

The project also has an active Reddit discussion, with much expectation of a product launch and growth.

Lisk Markets

Which is no surprise, given that around 19% of LSK trading comes from Jubi against the Chinese Yuan, and a few additional smaller Chinese-based exchanges making up additional smaller volume. For now, Lisk is not offered on Korean exchanges. With the recent Chinese ban on ICOs, funds may flow into older projects like Lisk, which are on the verge of releasing a product.

Lisk Wallet

In order to keep a cryptocurrency safely, one would need a wallet. The disadvantage for Lisk is that a separate wallet is needed, unless you feel you can trust Poloniex with your funds.

The official Lisk wallets offer two options. Lisk Nano is the light client that only communicates with the network. Lisk Core is harder to set up, and is intended for developers. Since Lisk is a "delegated proof of stake" coin, Lisk Core would be needed to act as a delegate or stake the coin.

The Verdict on Lisk

Lisk is a promising project that may deliver a working product soon. Its market price has remained robust due to active trading in the post-ICO stage. The company is well-funded and serious about its team. Lisk is still attractive to buy even at $6, and is hovering near the top 10 of CoinMarketCap. It is still a better idea not to invest funds you cannot afford to lose, but compared to other projects, Lisk has a somehow higher return potential, if the current sentiment on cryptocurrency markets remains as positive.