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New Sidechain Technology for the Internet of Things | @ThingsExpo #IoT #Blockchain

Interview with Lisk CEO Max Kordek

New Sidechain Technology for the Internet of Things, Sharing Economies, and Social Networks

Thanks for taking the time to answer my questions. Please tell us, what is Lisk all about and what do you do?

Max Kordek, CEO of Lisk: Lisk is a cryptocurrency based on Delegated Proof of Stake (DPoS), but also a blockchain application and sidechain platform. With our Lisk App SDK, JavaScript developers can deploy their own sidechains and develop blockchain applications on top of them.

The fact that Lisk apps are running in their own sidechains allow them to be extremely flexible. Developers can design their own sidechain and app with all the necessary features. Additionally, being on sidechains, the Lisk platform can host thousands of apps without a problem. The main blockchain of Lisk stays extremely lean and efficient.

All apps are easily accessible from within our own app directory in our client.

What pressing problems does Lisk solve?

Kordek: Lisk provides a scalable platform for the biggest developer audience in the world; JavaScript coders. At this moment, it's rocket science to develop a decentralized,  peer-to-peer application. With Lisk, the App SDK, and blockchain technology, this becomes very easy. Practically every JavaScript developer can now work on decentralized technologies with a very low learning curve. That means they can jump right into action.

With the Lisk cryptocurrency, they can also directly integrate a monetisation model into their application. They are able to build not only an unstoppable, but also a very profitable service for the masses.

Do you think the widespread popularity of JavaScript will open opportunities for startups and entrepreneurs?

Kordek: Definitely! The combination of JavaScript and decentralization is extremely helpful. Until now, decentralization was very hard to do - that's why so few guys have included it in their business model in the past. Lisk opens up a lot of opportunities that until now were not available.

How does Lisk differentiate from Ethereum, Omni and the SAFE Network?

Kordek: In contrast to Ethereum, a Lisk app doesn't need gas to compute its logic. As long as people are forging the sidechain, all app operations are being processed. The sidechain forgers get all the accumulated fees (LSK or a custom token), assuming that the developer integrated this into his app (which is advisable in order to prevent spam). Ethereum saves all its smart contracts on its sole blockchain being the distributor and executor at once. Lisk is trying to be more lean. Its blockchain is similar to an hub, linking to an unlimited number of sidechains running blockchain applications written in JavaScript. Lisk apps are always performed on their own sidechain, providing great scalability and complete freedom for the app developer.

I really don't know enough about Omni or SAFE to give a proficient answer.

When it comes to blockchain apps for consumers, why do you think they are going to be a big deal?

Kordek: Blockchain applications have the monetisation model directly included into their business model. That cuts out financial middlemen because all financial transactions are performed in Lisk's own cryptocurrency.

That means app developers get a bigger chunk of the money, but it also means that we will see entirely new types of applications in the future. Like decentralized voting, payment systems, consensus services, or a storage providers.

Will blockchains as decentralized databases for applications be the new normal? What are your trend observations to decentralize everything, and why?

Kordek: Blockchains will never store big files and data directly, that's why it's hard to be "the new normal" for all types of applications. Rather, they act as meta databases, storing information like financial information, hashes, trust, or arbitrary messages.

Sometimes I see projects that try to decentralize services that don't need to be decentralized. I'm not a fan of the "decentralize everything" ideology. I'm a big supporter of the idea to "decentralize everything where it makes sense," and it makes sense in a lot of areas like the Internet of Things, sharing economies, and social networks!

If someone wants to build decentralized technologies, it makes sense to use the blockchain, specifically a Lisk sidechain, because it's just so simple. Why use a lot of money to build everything from scratch, when everything is already available to build on?

Being active in the Lisk community daily, I can see a strong trend for blockchain-based applications. However, I'm obviously biased.

Is the core of this open source?  Do you expect contributions from outside the organization?

Kordek: Everything is open source. Our core client, user interface, website, and various developer tools. We are already seeing Lisk forks and clones happening, which are bringing further innovation into the blockchain industry.

We just recently hired two community developers who were already very active. Besides them, we have a lot of community members who are contributing to the code and tools. We have a very active and valuable community that is eager to help out.

How will you make money? What's the business model?

Kordek: At this moment, we are solely focusing to provide a healthy, open-source, cryptocurrency-based platform to develop blockchain applications in JavaScript. We will think about possible monetization models for the platform in the coming months. There are a lot of possible angles we can take. Important to note is that Lisk itself is being established as a non-profit company. That means every profit the non-profit company may make in the future will directly flow back into it.

What is your funding? Who are the investors?

Kordek: We had a 1 month long crowdfunding campaign everyone could participate in. During that crowdfunding, we collected over 14,000 Bitcoin, which are currently worth around $6.4M. This puts Lisk in the top 20 of all crowdfundings in history. Around 4,000 cryptocurrency users participated, many of them also being decentralization and open-source enthusiasts.

What's next on your product roadmap?

Kordek: We just launched, now we need to concentrate on concurrency problems, security, optimisation, and robustness. Afterwards, we will make our client more accessible for everyone.

Thank you for your time!

Website: www.lisk.io
Twitter: https://twitter.com/liskHQ
Facebook: https://www.facebook.com/LiskHQ/

More Stories By Xenia von Wedel

Xenia von Wedel is a Tech blogger and Enterprise Media Consultant in Mountain View, serving clients in a variety of industries worldwide. She is focused on thought leadership content creation and syndication, media outreach and strategy. She mainly writes about Enterprise, B2B solutions, social media and open source software, but throws the occasional oddball into the mix. Buy her a coffee if you like her article: http://xeniar.tip.me

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