Since the launch of Lisk. One of the constant ongoing debate has been Lisk vs Ethereum or How Lisk compares with Ethereum. Is Lisk the ethereum killer ?
In this post we will be comparing Ethreum and Lisk platform.
Ethereum and Lisk both are decentralised blockchain platfforms with an app platform and own currency.Both Etereum and Lisk are striving to the backbone of the deceteralized app ecosystem which is exploding with the mainstreaming of Blockchain technology . Although path both of them have chosen is different.
For beginners who are not familiar with Lisk and Ethereum ecosystem, we will cover a bit of primer. But I strongly recommend they go through alternate resources on Lisk and Ethereum. Here are some key resources I will recommend .
- Understanding Ethereum from Horse’s mouth: Vitalik Buterin
2. Read Ethereum white paper here
3. Read more about Lisk on our Comprehensive Lisk guide
4. What Lisk is what it is not ( Source : Blog )
Comparing Lisk and Ethereum : An Introduction
Lisk and Ethereum both provide a platform which can be loosely called a decentralized block chain platform. Essentially both Lisk and Ethereum want to be the back bone on which decentralized block chain applications can can be developed and distributed. The problem Lisk and Ethereum are trying to solve is similar or at least adjacent though the approach is different.
The differences in approach range are along different axes. Some of the Key axes are:
- Blockchain Architecture
- Consensus System
- Application Platform Programming language support
- User Modules and Clients
Let us quickly summarize the key differences between Ethereum and Lisk.
Ethereum Vs Lisk Comparison
Origin and History
Ethereum was initially proposed as a way to build decentralized applications on blockchain network by Vitalik Buterin.Who at that time was a developer on bitcoin and contributor to bitcoin magazine. The proposal could not get consensus in the Bitcoin community as a result in Jan 2014 Vitalik along with Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson announced a new project named ethereum. Ethereum foundation was formed in Switzerland to work on Ethereum. The stated goal of Ethereum as outlined in white paper was as follow
“Ethereum intends to provide a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create “contracts” that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code”
Lisk on the hand is a hard fork of another blockchain project Crypti. On Jan 31st, 2016 Kordek, and Olivier announced that they are leaving Crypti and forking Crypti to what will become the Lisk Platform. They also announced on ICO to fund the development and marketing of Lisk.
Founders and Early Team
Ethereum was founded by Vitalik Buterin alon with Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson .
Lisk was founded by Max Kordek and Olivier Beddows.
- Ethererum network is run by Ethereum foundation which is based out of Switzerland. Lisk is overseen by Lisk foundation. I couldnot find too many details about Lisk foundation.
- Key Members on the Ethereum fondation include Ming Chan executive director, Vitalik Buterin foundation council and Jeffrey Wilcke technical steering group. Lisk Fundation has Max Kordek as President, Oliveir Beddows as Vice-President and Guido Schmitz-Krummacher as a member.
Coin or Cryptocurrency
Ether (ETH) is the currency for ethereum network. While Lisk( LSK ) is the Cryptocurrency for Lisk.
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Design and Architecture
Ethereum follows a core block chain architecture where all nodes replicate the
2. IN Lisk Dapps are not stored on the main blockchain . They are linked to the block chain with external links called sidechains this is similar to how apps are available on google play store. While in Ethereum the code resides on the main block chain.
3. Having sidechains remove some clutter from the main blockchain and can potentially lead to easier scaling but also comes with additional issues like low central oversight and audit.
4. Lisk is essentially a deceentalized network losely held together with side chains while ethereum is decentralized network in a more traditional way with commmon audit and control and all nodes running the same code.
Language and Developer Tools
DAPP and Developer ecosystem
Ethereum already has a vibrant app ecosystem with tons of apps already created and thousands of developers actively working on the platform. Lisk being new doesnot have any big apps or lot of developers working on Lisk platform . Thats one area where I believe Lisk management needs to focus right away and I believe they will be doing it because developers are the life line of any platform.