Meet the New Lisk Mainnet
August 23 2021 - 5:00AM
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We are proud to announce that on August, 21st 2021, at around 2:00
pm CEST, the Lisk Mainnet v2 successfully completed the migration
to Lisk Mainnet v3. This comprises the biggest protocol change to
ever occur on the Lisk blockchain, and marks the beginning of a
whole new era for the Lisk network as it eliminates all weaknesses
of the Lisk Mainnet v2 related to fees, consensus algorithm and
accounts, and also prepares and improves the Lisk blockchain for
the upcoming interoperability release in many regards. What does
this mean for me? New Account System Dynamic Fee System Revamped
DPoS Total Immutability with Lisk BFT Significant Performance
Improvements New Modular Architecture Lisk Mainnet Party Recap
Outlook: What’s coming next Development Focus: Lisk
Interoperability Research Focus: Blockchain Interoperability
Conclusion What does this mean for me? This section provides an
overview of the new and updated features which are now available on
the new Lisk Mainnet v3. 1. New Account System Did you
know that with Lisk v3 you have an extremely secure new account
address system, with built-in error detection for typos? No need
for account initialization anymore! We give our community complete
security. The old address and ID system has been replaced and all
existing accounts have been automatically migrated to the new
system. This introduces a longer address, decreasing user
experiences of address collisions and ensuring that such addresses
are resistant to preimage attacks. In addition, this also
eliminates the need to initialize a new account, as was required in
the old Mainnet v2, ensuring that every new account in the Lisk
network is completely secure right from the start. The following
credentials of your account have not changed: Your private key Your
public key Your 12-word mnemonic passphrase Hence, you can still
use your old passphrase to log in to Lisk Desktop as before. The
following credentials of your account have changed: Your Lisk
address The new address is created from the public key as described
in the illustration shown below. Please note that we now append a
checksum of the address at the end of the address, which provides
support for detecting typos in the account addresses. Thanks to the
checksum depicted in the above illustration, a user can mistype up
to 4 characters in the address, and it is guaranteed that the
application will detect it. It does not matter if the errors are
introduced in the checksum part, and/or the part that represents
the 160-bits address. All important information about the new
address and ID system can be found in the blog post: The new Lisk
ID System. 2. Dynamic Fee System Did you know that with
Lisk v3 transactions are up to 98,64% cheaper? Instead of 0.1 LSK
the new minimum fee is now only 0.00136 LSK. We give our community
competitive fees. Our new dynamic fee system has replaced the
static fees, making transactions significantly cheaper to execute.
This also enables users to overwrite their transactions in the
transaction pool (i.e. transactions which are not included in the
block yet), by setting a higher fee and the same nonce as the
transaction they wish to overwrite. The minimum fee of each
transaction is always burned to secure the system against various
game-theoretic attack scenarios. More information about dynamic
fees can be found in the following blog posts: Lisk’s Dynamic Fee
System and Static vs Dynamic Fee System: A Comparison of Both.
3. Revamped DPoS Consensus Algorithm Did you know that
with Lisk v3 the DPoS consensus algorithm received an entire
revamp? A fair network, new validators, and no more cartels. We
give our community fair decentralization. The DPoS consensus
algorithm has been completely redesigned to improve the
decentralization and security of the validator selection algorithm.
This includes a completely new voting mechanism, two additional
randomly selected delegates per forging round, and a new punishing
mechanism for malicious delegates. Please note that all previous
votes for delegates have not been migrated to the new Lisk Mainnet
v3, and every account needs to recast their votes for their
favorite delegates. More information can be found in the following
blog post: Actions Required for the Upcoming Mainnet Migration. A
list of the most important features in the DPoS new consensus
algorithm can be viewed in the illustration below: More information
about the new DPoS can be found in the blog post: 3 New DPoS LIPs:
Changing the Voting System for Lisk. 4. Total
Immutability with Lisk BFT Did you know that with Lisk v3 you can
send a transaction and be certain it never gets reverted again?
This is the way forward for future cross-blockchain transactions on
our blockchain application platform. We give our community total
immutability. With sidechains and interoperability coming into the
Lisk ecosystem in the next major release of Lisk Core v4,
blockchain applications will be able to facilitate transactions
across multiple blockchains. To achieve this, it is necessary to
guarantee that a sent transaction can never be reverted again. That
is precisely what our newly implemented Lisk BFT consensus
algorithm is doing. A block will become final on average after 155
blocks or approximately 26 minutes after it was included in the
blockchain. If you want to be sure a block is finalized, compare
its block height and the finalized height of the blockchain (e.g.
check the finalized height with Lisk Desktop or the
community-maintained explorers Lisk Observer and Lisk Scan). If the
block height of the block is lower than the finalized height, it is
100% ensured that this block and all its contained transactions are
final and cannot be reverted or changed again. All important
information about the new Lisk BFT consensus can be found in the
following blog posts: Introducing Byzantine Fault Tolerance
Consensus for Lisk and Exploring Pre-Votes and Pre-Commits.
5. Significant Performance Improvements Did you know
that with Lisk v3 over 1,000,000 transactions can be processed
every day? That is a vast increase of 5 times more than with the
previous version. We give our community greater scalability. The
performance of Lisk Core has been improved in multiple ways. The
main improvements are listed below: Smaller blockchain size: The
blockchain data is now stored in a key-value store instead of a
Postgres database. Therefore, the required blockchain size has
diminished and is now around 10 times smaller. Faster query
response times: API query response time has improved significantly.
Faster block processing time: The time required to process a block
has decreased by 3 times on average for empty blocks and over 33
times for blocks containing transactions. Increased maximum
transactions per second (TPS): Byte based blocks allow the
inclusion of many more transactions in a block. Further details
about the performance improvements of Lisk Core v3 can be found in
the blog post Benchmarking Lisk Core v3.0.0 against Lisk Core
v2.1.6. 6. New Modular Architecture Besides the
extensive protocol improvements, there have also been large
improvements in the code base of the Lisk SDK, which is also
utilized in version 3 of Lisk Core. The overall development
experience has improved greatly by creating a completely modular
architecture of the blockchain application, whereby all different
components of the application can be changed, extended, or replaced
by the developer. The Lisk Commander has become a powerful CLI
tool, which greatly simplifies the creation of blockchain
applications. For example, it is now possible to bootstrap a
completely new blockchain application with one single command, or
to generate skeletons for new modules, plugins, or assets for a
blockchain application. For more information about the new
architecture, and how to develop blockchain applications with the
Lisk SDK, check out the Lisk SDK documentation. Lisk Mainnet Party
Recap In order to celebrate the largest update to the Lisk Mainnet
in its history, as well as to showcase an overview of all the
biggest protocol changes on the Lisk blockchain and to provide our
community with insights into the next steps for Lisk, we organized
a Lisk Mainnet Party, a fun and dynamic exclusive online event,
which was live streamed on YouTube and Crowdcast. The Lisk Mainnet
Party was hosted on August 21st live from the stage in the Lisk
Center Berlin, as a celebration of Lisk’s greatest achievement to
date. The event started with an extensive in-depth presentation of
the Lisk Mainnet migration process by Max Kordek, CEO and
Co-Founder of Lisk, which covered the main changes and improvements
brought by Lisk Core v3. This dynamic event was a great opportunity
for the Lisk community to interact with Lisk’s Research,
Development, and Marketing teams. Once the migration block height
was finally reached, Max held an informative discussion with Mona
Bärenfänger (Technical Writer), Iker Alustiza (Research Scientist),
Ishan Tiwari (Backend Developer), and Mitsuaki Uchimoto (Backend
Developer), reflecting on the project’s major achievements,
exchanging behind-the-scenes stories, and discussing relevant
insights into their individual journeys. After the waiting period
for the 201 blocks was over, the snapshot was successfully taken,
and the Lisk Mainnet was migrated; then Monica Tartau, Marketing
Lead, was invited on stage to discuss this outstanding achievement
for Lisk. Monica answered questions from the community regarding
the upcoming marketing plans and announced the 10 meme contests
winners. The Lisk Mainnet Party was concluded after Max’s live AMA
covering the successful Lisk Mainnet migration, the future of Lisk,
and the plans for the upcoming months. Outlook: What’s coming next?
The successful migration of the Lisk Mainnet v2 marks the end of
the “Emerald” phase, and the beginning of the “Sapphire” phase on
our Roadmap. With all the above-mentioned improvements in the
protocol and codebase, the new Lisk Mainnet v3 is perfectly
prepared to integrate Lisk’s interoperability solution, which was
presented to the public for the first time at Lisk.js this summer.
The interoperability is the final key feature missing, which will
allow blockchain applications to register as a sidechain. This
enables them to interact with the Lisk ecosystem, consisting of the
Lisk Mainchain and all other connected sidechains. Development
Focus: Lisk Interoperability The planning and development of the
next major release of the Lisk SDK (v6) and subsequently of Lisk
Core (v4) is already progressing at full speed. The release of Lisk
Core v4 will bring Lisk’s interoperability solution to the Lisk
Mainnet. The current progress can be viewed in real time by
following the corresponding projects in our GitHub repositories:
Lisk SDK projects Lisk Core projects Research Focus: Blockchain
Interoperability So far, 40 LIPs have been published in total. An
overview of all existing LIPs can be found in the LIPs repository
on GitHub. Apart from the development progress towards
interoperability, there are several new research objectives related
to interoperability in the pipeline. The following 10 research
objectives are nearly finished and will complete the research phase
“Lisk Interoperability”: Chain registration Cross-chain messages
Introduce the auth module Introduce the fee module
Proof-of-Authority validator selection mechanism Properties,
serialization, and initial values of the interoperability module
Define state and state transitions of the random module Define
state transitions of the reward module Introduce the validators
module Add weights to Lisk-BFT consensus protocol The following
supporting research objectives are already planned and are part of
the research phase “Interoperability Improvements”: Reduce time to
finality Provide relayer incentivization mechanism Generalize the
transaction fee system After completing the Sapphire phase which
includes the “Lisk Interoperability” and “Interoperability
Improvements” milestones, the research team will concentrate on the
Diamond phase with its research milestone “Blockchain
Interoperability”, which will focus on interoperability of the Lisk
ecosystem with other blockchain ecosystems such as Ethereum,
Cosmos, Cardano, or Polkadot. This will result in a huge leap
forward, as Lisk sidechains will then be able to communicate to
blockchain applications in other ecosystems and vice versa.
Blockchain interoperability is the next big evolutionary step for
the Lisk ecosystem and will massively contribute to cooperation
between a variety of projects located on different blockchain
platforms. Finally, this is of key importance to advance the
overall adoption of blockchain applications as a whole. Conclusion
To summarize, we are delighted to finally present the new Lisk
Mainnet v3 and all of its above-mentioned features and
improvements, which we have been working diligently on for the last
three years. It has been a massive and complex task, which
successfully resulted in the culmination and inclusion of all these
new features into one major and comprehensive migration of the Lisk
Mainchain, to reduce the number of hardforks required in the
network. Now, it is possible to take advantage of all the
next-generation features that you have been waiting for. However,
rest assured this is just the beginning. The Lisk SDK can already
be classed as a radiant gem, nevertheless, it will continue to be
improved and enhanced. With Lisk Interoperability coming, we are
just one step away from having one of the most advanced and
scalable blockchain interoperability solutions that exist today. We
want to thank everyone who accompanied us during this exciting
journey to bring Lisk to the next level. Firstly, our dedicated
Lisk community, which is always supportive and helpful and
continues to inspire us to improve further. Without your support,
this would not have been possible. It has been extremely motivating
to see how community members have utilized the Lisk SDK to realize
a variety of innovative projects and ideas, including the building
of websites with useful services for the community; and the
continual engagement in the Lisk.chat, together with offering
support to other community members. Finally, we also want to thank
our community moderators and the community squad for providing us
with outstanding support and constructive feedback. We are
eternally grateful to have such an active and supportive community
and look forward to continuing to provide support as the community
expands and grows further. Enjoy the new Lisk Mainnet, everyone!
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