Welcome to our Lisk (LSK) news page. Here you'll find some of our featured Lisk Blockchain Platform content pieces as well as all our latest Lisk Core 1.0 posts.
Lisk Core 1.0 Launches as Migration to Mainnet set for August 29th
An announcement from Lisk Community Medium page on August 15, 2017 revealed the launch of Lisk Core 1.0 as a main network, Mainnet. This comes on the back of the release of the beta network earlier in the year and two rigorous tests on the network to ensure the network is totally functional. The migration is expected to start at a block height of 6,901,027 at round 68327 and is approximated to take place at the end of August. The development on the Lisk blockchain has shown increased growth in the current bear market and the company announced that over 1000 pull requests have been received on the Lisk Core repository.
The Lisk Core 1.0 release is part of the major development moves the Lisk team has released. The project is expected to see the blockchain enable a more efficient and faster blockchain to its users. The development process has seen dozen of contributors from LiskHQ and Lisk Academy make the migration possible. The team had over 8,000 commits and 1,000 peer reviewed issues closed.
The Mainnet introduces a new peer to peer communication layer, an improved API design and other additional features. The Lisk Core 1.0 also introduces new features such as atomic block writes and structured test codes to the wallets and transactions where users will be able to send messages too.
The Block Height At 6,901,027
The Lisk development team created an algorithm script that aims to correctly predict the accurate time for the block height. To select it accurately, a number of factors were put to place such as the timeframes, buffers, resources, ecosystem alignment, the Lisk community, possible missed blocks and other variables to create a perfect algorithm. However, since the possible missed blocks directly affects the algorithm, the actual time of this migration is unknown.
The calculations made to determine the actual day of block height being reached is assumptive of the possible missed blocks being zero between the day of calculation and the day the actual block height is reached. The team ensures that every of the variables is accurate to get an actual date for migration to the new Lisk Core 1.0 to Mainnet.
The Lisk development team determined the probable block misses to be expected before the block height will be reached and released audited reports to the public domain in a bid to increase transparency in the process. However, looking at the previous block misses in the last few months and those missed from Lisk Core 0.9.16, a factor between 0.16-0.26 was reached on the total block misses. Factoring in this data brings the actual time for migration to the Mainnet to 12 PM CEST, an hour later than the planned block height snapshot on Wednesday, August 29th 2018 at 11.00 AM.
Better estimates are to be determined as we draw closer to the Lisk Core 1.0 Mainnet migration and anyone can estimate the time for actual block height being reached using the audited published algorithm.
Lightcurve Dev Team Reaches 1000+ Pull Requests
Finally, the Lightcurve development team reached 1000+ pull requests on the Lisk Core repository that has blended in with the recent launch of the Lisk Core 1.0. The announcement on Twitter read,
“Together with the imminent Mainnet release, #Lightcurve Dev Team recently reached another great milestone — merging more than 1,000 pull requests in the #Lisk Core repository! We’re very excited about this and look forward to many, many more.” - @l
The team advises users against making any transactions during the 24 hours prior to and after the migration. For exchanges they are too advised against accepting withdrawals/deposits during the migration.
Lisk Elements v1.0.0 Released
Lisk originally required a mechanism to perform certain actions, like submitting transaction on the client side. Although the system in place worked well, the missing component was natural client-side architecture. Lisk Elements allowed the platform to redesign the architecture of its library and now, the system divides functionality into distinct areas that depend upon one another. The divisions are as follows: constants relating to the Lisk protocol or the Mainnet and Testnet networks, cryptographic functions required by the Lisk protocol or otherwise recommended by LiskHQ, Mnemonic passphrase management aligning with BIP39 wordlists, transaction creators for each transaction type of the Lisk protocol, and an API client for communication with nodes on the Lisk network.
In addition, it will feature a new protocol for signing messages using Lisk passphrase, it exposes more utility functions than ever, and it also will rename exposed functions and variables.
The platform is also planning to release Lisk Core v1.0.0, which is posed to change the Lisk ecosystem. As a result, all of the platform’s products need to align for the release to go smoothly. The platform also plans on publishing every component of Lisk Elements as a package that can be installed separately. The platform is also working to improve validation and to reduce the frequency of error messages.
Faulty Transaction Takes Down Lisk (LSK) Blockchain By Security Protocols
Faulty Transaction Stops Processes on Lisk Blockchain As Security Efforts Correct Damage
On June 2nd, 2018, there was a problem with a transaction on the Lisk blockchain, which resulted in the entire program shutting down as the engineers worked to correct the issue. In a post on Reddit, the President and CEO of Lisk, Max Kordek, explained exactly what happened to users.
His post said, “During European morning hours, an anonymous individual broadcasted a faulty transaction to the Lisk network. Due to a rare edge-case bug in transaction processing, this transaction was deemed valid and went through the processing steps on each individual node. However, it was an invalid, maliciously customized transaction type that utilized this particular code bug. ...“
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In an effort to create a solution for this process, the blockchain stopped any new blocks, leading to the standstill of the entire system. When the freeze occurred, any transactions that users initiated were caught in the cross-hairs, preventing from completing the desired process.
Right now, the Lisk brand has not determine if this problem was caused by someone that intended to cause harm to the platform. While the bug has already been eradicated, the company remains uncertain if this attempt was an experiment against what the platform does, or a single attack.
Does Centralization Threaten Lisk’s Blockchain?
Some sources say that this forced stop to transactions on the Lisk blockchain is an action that centralized blockchains are capable of. However, Kordek was quick to inform the public that the pause on the network is a fail-safe function in their security, which was admired by many of the participants. One user on Reddit compared the fail-safe to a “built-in antivirus” that other projects do not possess.
Unfortunately, this process has also received negative attention from critics, since they believe that the Delegated Proof of Stake (DPoS) system that verifies the network brings too much centralization. The whole point of cryptocurrency is to be decentralized, and this adaption makes consumers wonder if Lisk will becomes centralized instead. However, statistics indicate that DPoS systems like Lisk and ARK have secured blockchains effectively in the past.
The community manager of Lisk stated:
“We have just now released the fix and solution to this matter and are now returning to a normal and regularly operated network. Within the next moments, everything will be optimally functioning and will allow for all users to use the Lisk blockchain and their tokens as they did prior to this. To remind you all, everyone’s fund is safe.”
Consumers should be aware that any of the transactions that were cause in the pause of the network will be eliminated as if they never started in the first place, which is an effort to preserve the funds.
Even though this feature was helpful in preventing new issues to consumers, it was put in place due to other bugs that have infiltrated the system in the past. In fact, the DPoS system is practically necessary to embed in their network’s programming. Despite the temporary shutdown, the LSK token price actually went up 7% on the day of the bug.
MADANA: Blockchain Market Data Analysis Startup Launches on Lisk Platform
MADANA: The Data Analysis Blockchain Startup to Open Whitelist Sign Up on August 1
MADANA is a German patent-pending blockchain platform that will be utilized for data analysis. It will enable the participants to engage in a data market using their own protected data. The platform recently announced that the pre-ICO whitelisting sign-up would take place on August 1, 2018.
More About The Project
In 2015, over 700 million data records were compromised globally. The figure almost doubled in 2016 and reached 1.3 billion data records. In an attempt to resolve this dire situation, MADANA was created. The platform aims to offer protected open access to analysis results based on data from different sources. All the data is encrypted and the data owner is the only one that can decrypt it if he or she consents to be part of the remotely triggered data collection.
To let the interested investors and users join the MADANA community, the startup is going to enable pre-registration for the PAX token ICO. The sale of the tokens is planned to take place in about two weeks. MADANA has a plan to be the first Lisk-based ICO that complies with the German BaFin rules.
The Aim Of The Project
In simple terms, the project wants to create a solution that brings privacy back to data producers. According to Christian Junger, the CEO, and Founder of MADANA, data is one of the most valuable modern assets. It will only grow in significance; as a result, this makes it attractive to cyber criminals. Thus, MADANA is working with experienced companies and political institutions to bring a solution based on the blockchain.
Using MADANA, users can monetize their data within the blockchain-powered marketplace. Users may post bounties and other participants can claim them. The data owners will be rewarded using PAX tokens; eventually, they are transferred using a smart contract that runs within the network. In short, users are paid for being active in the social networks.
Even with the GDPR in place, Dieter Schule the COO of MADANA said that data security was still a major concern, which was costing the world trillions annually. He said that they planned to expand upon this base and come up with new opportunities for industries to acquire data that was GDPR compliant.
In MADANA, three parties will be able to interact safely. The first will be data producers who can monetize their data without having to give up privacy control. Another participant will be plug-in providers that can implement new analysis schemes and apps via and a simple UI. The final participant will be the buyers of the data analysis, who can purchase the data on demand while eliminating the costly data management.
Who Is MADANA
MADANA is a blockchain-based startup that features an integrated system, which offers open access to data while ensuring user privacy is protected. The MADANA startup will launch a whitelisting on August 1, 2018, for the PAX token. It is going to be the first Lisk-based ICO that is compliant with German BaFin regulations.