What is LISK? - LSKBTC

What is Lisk LSK token – LSKBTC

This is my layman break down of the crypto currency Lisk. Please add comment your thoughts if you agree disagree or have something you would like to add.
What is it?
Lisk is the first module crypto currency that looks to utilise “Side Chain” technology.

• Lisk Allows its users to design their own decentralized Applications using the lisk side chain technology.
• Side chains look to solve the issue of bloating of networks to avoid slow completion of transactions
• Side chains are basically additions to the main block chain and offer a alternative block for completion of blocks on the main block chain
• This would allow for unlimited scalability

How are the charts

Previously finished a significant bullish movement outside its immediate ascending channel.
Broke and closed above the upper channel resistance level of the ascending channel and price action is sitting above the .618 fib level and the new support is old channel resistance.

Expected possible moves there are three likely scenarios:

1. Price action will find support at the channel support level and also the confluence from the EMA (exponential Moving Average) and move further up
2. Price break back through channel support and bounce off the .618 fib level as it previously did on nearly 4 other occasions
3. Price finds the lower channel support and moves back up to continue within the boundaries of the ascending channel.
   I looks like the price action is due for a correction of some sort and will continue further up

How does It compare :

Lisk is ranked the 22nd crypto on coinmarketcap.com trading at $3.26 USD. Up from almost $0.00 USD in February this year. Market Capitalisation is at $353,849,358 and there is 108,638,770 LSK tokens in circulation. Daily volatility is at $6,944,740.

Final thoughts?

Lisk is attempting to be the next Ethereum, even further than that being the Ethereum killer. Lisk has serious competition in the form of NEO coins (formerly known as Antshares) and more directly Ethereum itself. However with the ability of “Side-chains” list has no issues of blockchain bloat and slow transactions, it is basically has infinite scalability. There is a lot of upside with LISK and I see a bright further. It has taken the best things about ethereum and add to the solutions to some of its issues.

Watch this space worth looking at as a medium to long term investment
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