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Hackernews Lisk Vs Ethereum
Lisk, there are some factors to take into lisk. For developers who are not familiar javascript Truffle, or prefer to use the Command Palette, development extension can easily scaffold out a project directory using the following steps. About Blockchain. The flexible process and seemingly immense potential the DAO offered had gathered a frenzy of people jumping in blockchain get in on the action. Buterin, in addition to other co-founders, secured financing for the project ethereum an online public crowd sale in ethereum summer of and formally introduced development blockchain on July 30, A prompt will be presented to allow you to enter a project javascript.
The majority decision for a solution was that Ethereum needed to create a fork , or stop the blockchain entirely and create something new from scratch. Ethereum Classic ETC is, as the name would suggest, the first Ethereum still using the original blockchain.
Ethereum ETH functions on a brand new blockchain, and the vast majority of miners, users, and protocol from the previous version of Ethereum use this new version. Ethereum is actually a fork of Ethereum Classic.
Ethereum Classic ETC runs on the same protocol doing a similar function, but it does have some distinct differences in its community. ETC primarily has value because of the speculator market, much like many of the other alt-coins out there. Ethereum ETH , on the other hand, is more like a software company that wants to grow and could possibly have more hard forks in the future. ETH primarily has value due to a mix of the speculator market, but more so due to its use of case scenarios and community support.
By this point in our discussion, you should have a fairly in-depth understanding of the differences between Ethereum and Ethereum Classic. To explore further, we start to reveal some of the ideological differences between both communities. These ideological points are important to understand because ideologies attract communities, and the community support behind most cryptocurrencies is what ultimately determines their long-term value. Although a fork, Ethereum is now the more popular chain.
The Ethereum community had one of three options:. The way the hard fork worked is that the ETH we know today split off from the main blockchain at a particular point. This particular point was around block 1,, — right before the DAO hack. The hard fork helped to refund everyone who had invested into the DAO, using what is referred to as a refund smart contract.
By now, you should have some idea of how this event split up the Ethereum community. Ethereum was first created as a stance against financial corruption. The immutable blockchain was meant to be free from the human tendency to corrupt. The DAO hack which had nothing to do with the integrity of the Ethereum platform split the Ethereum community because the decision to hard-fork — and essentially manipulate the blockchain — went against the original purpose of Ethereum in the first place.
Ideologists that were unshaken in their beliefs stuck with ETC, whereas others split off into Ethereum for the sake of the survival and flourishing of the community. There is a natural antagonism between the two groups for this reason. Additionally, many anti-Ethereum people jumped into the ETC camp to further cause disruption in the Ethereum community.
The biggest issues with ETH is that now that the hard fork seal has been broken, many are speculative that there could be more hard forks in the future. Since the Ethereum community could come together to make a substantial change in the price and future of the blockchain, something hailed for its ruthless mathematical objectivity. Some people have become rightfully speculative or downright conspiracy-driven that leaders in the Ethereum community could manipulate a hard fork in the future.
This risk adds some volatility to the long-term price. The above issues with ETH are only mentioned for the sake of fairness to both communities, but as a crypto enthusiast, you should be aware of all the available information. While Ethereum ETH may be looked at as a mutation and violation of the principles of immutability behind Ethereum, it also serves as a landmark victory for the Ethereum community being able to come together and handle the worst hack in cryptocurrency history.
An argument can be made that if not for the hard fork, Ethereum, the platform that allows countless innovative and spectacular Dapps to run, might not exist today. The power of Ethereum lies in its community since it is a platform that allows others to build projects that could revolutionize virtually any industry.
Ethereum Classic, however, is stained with the unfortunate history of the DAO. The core idea behind the DAO could have made a substantial impact on the future of technology, and the core flaws in its security gave birth to a stronger platform. The sheer market cap size and the strong community behind Ethereum ETH foreshadow a bright future.
ETC, on the other hand, appears to be slowly shrinking in market cap comparison to the rest of the crypto world and consists more of a combination of immutable blockchain loyalists, ETH antagonists, and general market speculators. In the early stages of Bitcoin development, most cryptocurrency enthusiasts tended to think that the original digital…. Even though it was founded in , a time when there were already established companies in the….
Ethereum 2. Part meme, part functional token, dogecoin is like the class clown who got kicked out of school but who ended up becoming a billionaire anyway. Alex leans on his formal educational background BSBA with a Major in Finance from the University of Florida and his on-the-ground experiences with cryptocurrency starting in Alex works with cryptocurrency and blockchain-based companies on content strategy and business development.
Most people know Ethereum for their smart contract technology, but there are some others projects out there focusing on this technology as well. As unlikely as it may sound to some, smart contract technology has been made available to bitcoin users several years ago. Through the Bithalo project, bitcoin enthusiasts can effectively create contracts which auto-complete based on certain milestones and events. For some reason, this project never got the full attention from the bitcoin community.
Several companies and project will use the bitcoin blockchain to integrate more smart contract functionality in the future. Additionally, the Rootstock team is working on their platform which brings smart contracts to the bitcoin blockchain as well.
Exciting times are ahead for bitcoin coders and developers. The technology also accommodates the development of decentralized applications through smart contract technology. However, there are some factors to take into account. This coding language has had its merits, but quickly became less popular due to its limitations and not being the most reliable at times.
However, using JavaScript also means there is unlimited growth potential for Lisk. When talking about smart contracts, it is impossible not to give Ethereum a mention.
Coders from all over the world have taken a liking to the Ethereum smart contract language, as the number of DApps in development continues to grow on a regular basis. In fact, we highlighted some of the more intriguing DApps in development in a previous article. Unfortunately, this disruptive technology is not without its flaws either. This bug allowed most of the smart contracts to be either taken down or changed by an unknown third party.
Anyone who owns a decentralized smart contract would be unable to fix this bug, which poses a severe risk. Thankfully, the bug only affected a minority of all smart contracts in existence.
ETC vs ETH – The Issues
In fact, this has been the most typical usage for the ETH platform so far: to date, more than , ERCcompliant tokens have been introduced. New to crypto? Discover how to purchase Bitcoin today Ready to read more? Visit our discovering hub Wish to look up a deal? Visit our block explorer Curious about the crypto area? Read our blog site. Since August , Ethereum is protected through the Ethash proof-of-work algorithm, belonging to the Keccak household of hash functions.
There are plans, nevertheless, to shift the network to a proof-of-stake algorithm tied to the significant Ethereum 2. After the Ethereum 2. At the time of writing in mid-December , the Ethereum stake cost, or the quantity of money made daily by Ethereum validators, has to do with 0. This number will change as the network develops and the quantity of stakers validators increase. Ethereum staking rewards are determined by a distribution curve the involvement and typical percent of stakers : some ETH 2.
The minimum requirements for an Ethereum stake are 32 ETH. If you decide to stake in Ethereum 2. However, Ethereum is far ahead in market capitalization and currently the 2nd largest.
Lisk is a blockchain application platform that enables developers to create, distribute and manage decentralized blockchain applications by deploying their own sidechain linked to the Lisk mainchain.
Basically, the approach of Lisk is to solve the scalability problems that many cryptocurrencies experience and give more flexibility to developers. Lisk offers a Software Development Kit SDK which will enable millions of developers around the world to create their own decentralized applications dapps on the Lisk network. Lisk takes the ease of creating dapps very seriously and therefore makes it possible to build and deploy blockchain applications in JavaScript. This is because JavaScript is already well known by developers around the world.
It makes it easier for developers than having to learn a new programming language. The philosophy of Lisk is that developers would prefer an easier and more flexible platform to create dapps, rather than go all the way to learn a new programming language.
Ethereum, on the other hand, is a blockchain application platform built in a way that enables developers to create smart contracts. This smart contract feature is a script designed to automatically execute tasks when certain set conditions are met. Being the first platform created for dapps, it has grown to be the number one choice of creating new tokens using its ERC token standard. The basic difference between Ethereum and Lisk begins from the consensus model.
Lisk has a block time that is about 5 seconds faster than Ethereum.
Lisk VS Ethereum
It makes it easier for developers than having to learn a new programming language. The philosophy of Lisk is that developers would prefer an easier and more flexible platform to create dapps, rather than go all the way to learn a new programming language.
Ethereum, on the other hand, is a blockchain application platform built in a way that enables developers to create smart contracts. This smart contract feature is a script designed to automatically execute tasks when certain set conditions are met. Being the first platform created for dapps, it has grown to be the number one choice of creating new tokens using its ERC token standard.
The basic difference between Ethereum and Lisk begins from the consensus model. Lisk has a block time that is about 5 seconds faster than Ethereum. An important difference and advantage to Lisk is the ability to program in JavaScript on Lisk.
Meanwhile, Ethereum developers have to learn Solidity. Also, the sidechain concept of Lisk creates the idea in theory that congestion on a particular dapp will not affect the entire Lisk network. And then, the developer determines the costs per dapp usage in Lisk unlike in Ethereum where it is defined by miners.
A considerable advantage Ethereum has over Lisk is that the Ethereum blockchain is already live and functional with over 1, dapps on it. Meanwhile, Lisk is still under development. Since these contracts are automated and enforced, transactions and applications that run on the Ethereum platform have become very appealing to all sorts of different applications.
These applications, referred to as DAPPs decentralized apps have a wide variety of functionalities and purposes, all using the Ethereum platform to function. The DAO was essentially a decentralized sort of venture capital or hedge fund that was going to fund decentralized applications DAPPs built on the Ethereum ecosystem. The way DAPPs were to get approved had a pretty straightforward process.
First, they would have to be white-listed by reputable figureheads in the Ethereum community who acted as curators. The flexible process and seemingly immense potential the DAO offered had gathered a frenzy of people jumping in to get in on the action. The only stipulation was that the funders had to hold their ether for 28 days before they could spend them. Some people claim it was a hack, but to call it a hack would severely overestimate the technical prowess necessary to break into this poorly guarded platform.
In other words, the system could have been broken into by anyone with a few basic skills. To exit the DAO, all someone had to do was send a request and the splitting function would then refund the user their Ether in exchange for their DAO tokens, and update the ledger with the transaction and update the internal token balance. The hacker made a recursive function in the request, which essentially allowed them to repeat the request multiple times for the same DAO tokens before the transaction could be registered.
To further emphasize how big of a loophole this was, keep in mind that the recursive function was able to run and run until a THIRD of the DAOs funds were siphoned out.
They rapidly started scrambling for solutions to this problem. The majority decision for a solution was that Ethereum needed to create a fork , or stop the blockchain entirely and create something new from scratch. Ethereum Classic ETC is, as the name would suggest, the first Ethereum still using the original blockchain. Ethereum ETH functions on a brand new blockchain, and the vast majority of miners, users, and protocol from the previous version of Ethereum use this new version.
Ethereum is actually a fork of Ethereum Classic. Ethereum Classic ETC runs on the same protocol doing a similar function, but it does have some distinct differences in its community. ETC primarily has value because of the speculator market, much like many of the other alt-coins out there.
Ethereum ETH , on the other hand, is more like a software company that wants to grow and could possibly have more hard forks in the future. ETH primarily has value due to a mix of the speculator market, but more so due to its use of case scenarios and community support. By this point in our discussion, you should have a fairly in-depth understanding of the differences between Ethereum and Ethereum Classic.
To explore further, we start to reveal some of the ideological differences between both communities. These ideological points are important to understand because ideologies attract communities, and the community support behind most cryptocurrencies is what ultimately determines their long-term value. Although a fork, Ethereum is now the more popular chain.
The Ethereum community had one of three options:. The way the hard fork worked is that the ETH we know today split off from the main blockchain at a particular point. This particular point was around block 1,, — right before the DAO hack. The hard fork helped to refund everyone who had invested into the DAO, using what is referred to as a refund smart contract.
By now, you should have some idea of how this event split up the Ethereum community. Ethereum was first created as a stance against financial corruption. The immutable blockchain was meant to be free from the human tendency to corrupt. The DAO hack which had nothing to do with the integrity of the Ethereum platform split the Ethereum community because the decision to hard-fork — and essentially manipulate the blockchain — went against the original purpose of Ethereum in the first place.
Ideologists that were unshaken in their beliefs stuck with ETC, whereas others split off into Ethereum for the sake of the survival and flourishing of the community. There is a natural antagonism between the two groups for this reason. Additionally, many anti-Ethereum people jumped into the ETC camp to further cause disruption in the Ethereum community. The biggest issues with ETH is that now that the hard fork seal has been broken, many are speculative that there could be more hard forks in the future.
Since the Ethereum community could come together to make a substantial change in the price and future of the blockchain, something hailed for its ruthless mathematical objectivity. Some people have become rightfully speculative or downright conspiracy-driven that leaders in the Ethereum community could manipulate a hard fork in the future. This risk adds some volatility to the long-term price. The above issues with ETH are only mentioned for the sake of fairness to both communities, but as a crypto enthusiast, you should be aware of all the available information.
Build Your Blockchain Application in JavaScript
BCH Bitcoin Cash. December 11, Adam Stieb. JavaScript is globally accepted for many different tasks on the front and back end e. After a few seconds, the Blockchain view blockchain show a development Infura Service, with your ethereum nested under, and under this will the various endpoints lisk Infura provides. Since these contracts are automated and enforced, transactions and applications that run on the Ethereum platform have become very appealing to all sorts of different applications. Meanwhile, Ethereum developers javascript to learn Solidity.
Lisk is one of them. Presently, in terms of market capitalization, LSK is the 33rd largest digital currency in the crypto markets. Ethereum is far ahead in the race being the 3rd largest digital currency. Many people have started to wonder if Ethereum is becoming more popular than Bitcoin.
Ethereum and Lisk both aim to solve the same problem, but they have different approaches towards it. Lisk can be described as a Blockchain-based application platform which facilitates the development, management and distribution of decentralized applications. It is achieved by developers through the deployment of their sidechain linked to the Lisk mainchain.
Lisk aims to provide a solution to the scalability issues faced by most of the cryptocurrencies today and the platform provides more flexibility to Blockchain developers. To ensure that dapp development is easy, Lisk deploys the well-known JavaScript language.
Ethereum is a Blockchain application platform which facilitates the development of Smart Contracts. Comprehensive Documentation.
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What is blockchain? To exit the DAO, all someone had to do was send a request and the splitting function would then refund the user their Ether in exchange for their DAO tokens, and update the ledger with the transaction and update the internal token balance. The hacker made a recursive function in the request, which essentially allowed them to repeat the request multiple times for the same DAO tokens before the transaction could be registered.
To further emphasize how big of a loophole this was, keep in mind that the recursive function was able to run and run until a THIRD of the DAOs funds were siphoned out. They rapidly started scrambling for solutions to this problem. The majority decision for a solution was that Ethereum needed to create a fork , or stop the blockchain entirely and create something new from scratch.
Ethereum Classic ETC is, as the name would suggest, the first Ethereum still using the original blockchain. Ethereum ETH functions on a brand new blockchain, and the vast majority of miners, users, and protocol from the previous version of Ethereum use this new version.
Ethereum is actually a fork of Ethereum Classic. Ethereum Classic ETC runs on the same protocol doing a similar function, but it does have some distinct differences in its community. ETC primarily has value because of the speculator market, much like many of the other alt-coins out there. Ethereum ETH , on the other hand, is more like a software company that wants to grow and could possibly have more hard forks in the future.
ETH primarily has value due to a mix of the speculator market, but more so due to its use of case scenarios and community support. By this point in our discussion, you should have a fairly in-depth understanding of the differences between Ethereum and Ethereum Classic.
To explore further, we start to reveal some of the ideological differences between both communities. These ideological points are important to understand because ideologies attract communities, and the community support behind most cryptocurrencies is what ultimately determines their long-term value.
Although a fork, Ethereum is now the more popular chain. The Ethereum community had one of three options:. The way the hard fork worked is that the ETH we know today split off from the main blockchain at a particular point.
This particular point was around block 1,, — right before the DAO hack. The hard fork helped to refund everyone who had invested into the DAO, using what is referred to as a refund smart contract.
By now, you should have some idea of how this event split up the Ethereum community. Ethereum was first created as a stance against financial corruption. The immutable blockchain was meant to be free from the human tendency to corrupt. The DAO hack which had nothing to do with the integrity of the Ethereum platform split the Ethereum community because the decision to hard-fork — and essentially manipulate the blockchain — went against the original purpose of Ethereum in the first place.
Ideologists that were unshaken in their beliefs stuck with ETC, whereas others split off into Ethereum for the sake of the survival and flourishing of the community. There is a natural antagonism between the two groups for this reason. Additionally, many anti-Ethereum people jumped into the ETC camp to further cause disruption in the Ethereum community.