Lisk (LSK) crypto surges 25% in 1 day: What are its SDK & NFT services?

Highlights

• While Ethereum and Solana are blockchain networks, Lisk brings in JavaScript as a differential
• The project is claiming it can support blockchain apps, NFT marketplace and DAOs
• Lisk token has gained, with trading volume up over 3,000 per cent, but the future trajectory is difficult to acertain

The cryptocurrency space is very broad, with CoinMarketCap now tracking over 19,000 crypto assets. Though there are some major categories like meme tokens, metaverse and DeFi, any particular project can fall under more than one category or not fall under any.

Ethereum, and its so-called 'killers' like Solana and Cardano, can be categorized as projects providing a service to developers that helps build smart contracts and apps on the blockchain.

Notably, a relatively lesser-known cryptocurrency project seems to have worked with this model differently.

Lisk claims it is a software development kit (SDK) provider that bridges the gap between JavaScript and blockchain.

Let’s find out more about Lisk services.

What are Lisk SDK, NFT, and LNS?

The primary offering of the Lisk project appears to be SDK support to developers for building blockchain applications using the widely popular language, JavaScript.

Lisk claims its SDK service is open source and free, with support to developers to connect multiple blockchain apps built using Lisk.

On its website, the Lisk project also mentions non-fungible token (NFT) support. Another offering is a recovery system, SRS, which it claims may help in recovering inaccessible tokens.

Similar to DNS or Domain Name System, the project has Lisk Name Service. The project is running a grant program to identify and support blockchain apps using Lisk’s SDK services.

An NFT marketplace called Enevti, and a DAO platform called Kalipo are said to have used Lisk SDK.

Also read: Dogelon Mars rises: Are Binance listing talks fueling ELON token surge?

What is LSK crypto?

Lisk project has a native LSK token, which is said to be listed on Binance, Huobi and other exchanges.

According to CoinMarketCap, where LSK features among the top 200 assets, the market cap of Lisk crypto was over US$360 million as of writing.

The trading volume of Lisk crypto had surged more than 3,000 per cent in a 24-hour period, which led to a nearly 25 per cent rise in per token price.

Also read: MDT crypto rises: What is Measurable Data Token ecosystem?

As of writing, Lisk token, LSK, traded at nearly US$2.8. The recent upswing turned LSK token’s year-to-date (YTD) positive, as against negative YTD of BTC, ETH and many other major crypto assets.

That said, after starting 2022 at a price of nearly US$2.3, Lisk token plunged to under US$1.5 by late February. This volatility in LSK's price makes the token price prediction challenging.

Data provided by CoinMarketCap.com

Bottom line

Lisk claims to be providing JavaScript support to developers wanting to build on blockchain. A few apps like Enevti and Kalipo have used Lisk SDK, but how Lisk competes with networks like Ethereum, and Solana is a wait-and-watch game. Lisk token, LSK, is among 200 cryptos by market cap, which is a big deal considering over 19,000 cryptos tracked by CoinMarketCap. Price of LSK crypto has gained recently, but it has shown volatility over the past few months.

Also read: GMT token rises: How does STEPN differ from other metaverses?

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