Lisk is a blockchain platform open to the public. It is also known as a decentralized network and is used as a cryptocurrency. You will see it labeled as LSK, as this is the recognized token for the virtual currency. In common with other cryptocurrencies, transactions in LSK are fast – completing within 10 seconds. Once the transaction is complete and no more than a minute or two has passed, there is no way to go back on that transaction.

Lisk also works on sidechains. These are essentially blockchains that can be customized to suit the needs of whoever is using them. The Lisk app is required to make this happen.

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