(Last Updated On: November 18, 2017)

Since the launch of . 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 . 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 .

    1. Understanding Ethereum from Horse’s mouth: Vitalik Buterin

2. Read Ethereum white paper here 

3. Read more about Lisk on our Comprehensive Lisk guide

Best 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:

  1. Blockchain Architecture
  2. Consensus System
  3. Application Platform Programming language
  4. 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 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.

Company Structure

  1. 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.
  2. Key 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

  1. Lisk is built completely built on Javascript while Ethereum’s core scripting language is Solidity .
  2. Ethereum has a large number clients in different languages has two custom-written languages for contracts which is Solidity, and still allows for Javascript in UI

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.

Conclusions



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