New Lisk (LSK)
Published on August 22, 2021 by Aleksei Lebedev
The Lisk platform entered a new phase of development, Sapphire, and made changes to the blockchain.
Since the changes affect consensus, the network has done a hardfork—in simple terms, the old network is incompatible with the new one.
Lisk forked on August 21, 10:00 UTC.
What users need to know:
- If your Lisk wallet has at least one outgoing transaction, nothing needs to be done, the tokens are available. Otherwise, it will be necessary to make the transition “manually”.
- LSK address format changed from 2182456961562266629L to lskeksg4ajw48uq9srbfpg7e2upydraxn432v8g56
- Changed IDs of transactions and blocks
- Transfer fees changed from fixed 0.1 LSK to floating ~ 0.00146 LSK—new fees are significantly lower
- The minimum balance on the wallet should be 0.05 LSK: the network will not allow you to leave less
- Block time left the same, 10 seconds
- Public and private keys, passphrases of Lisk wallets remain the same
- Lisk wallet initialization is no longer needed
- The network is capable of processing ~ 1 million transactions per day
- The explorer, maintained by the Lisk team is stopped, but there are third-party explorers, for example, https://lisk.observer/
- ADAMANT and Lisk Desktop are already compatible with the new blockchain. Other exchanges and crypto wallets have suspended LSK deposits and withdrawals during the migration to the new blockchain API
- If your tokens are on a wallet that does not yet support the new blockchain, you can use your Lisk passphrase in the Lisk Desktop wallet
- If the tokens are on an exchange or on a hardware wallet, you need to wait for updates
- You need to re-vote for delegates and pools. All previous votes have been dropped. The list of delegates and pools is also new. Follow the news.
- If you have a second passphrase on your wallet, it was preserved after the hard fork
- Here is a list of wallets and exchanges that have already announced support for the hard fork:
Why do I need all this?
Any change comes through inconvenience. The Lisk update has improved the security and reliability of the network, allowed to run distributed applications, and prepared for interaction between sidechains. Lisk is now a platform that rivals Ethereum, Cardano, Tron, Polygon, and others.
Lisk wallet
ADAMANT is among the first to offer LSK wallet for the new blockchain.
The app: https://msg.adamant.im
If you are sending LSK in chat, you can add a comment—it will be encrypted and only be visible to the recipient. If you make a direct transfer to an LSK wallet, you can add a data message—it is stored in the Lisk blockchain and is public.
What is special about ADAMANT crypto wallet
- Open source. If you think this is a common thing, you are wrong. Trust, Exodus, Jaxx, SafePal, Atomic, Guarda—they are all closed source. You take them at their word. ADAMANT you can build from source.
- Only you own the private keys—they don't leave your device
- One passphrase to access all crypto wallets
- You can backup (export) private keys for all crypto wallets
- Transfer cryptocurrencies in chats
- Access wallets from Web, Tor, Android and iPhone