Lisk and Binance coin are two of the newest and promising coins on the market. Both have been making strides since they were launched and both hold even greater promise for the future. However, the two are born from two different worlds, offer different solutions and tackle different problems. As investment options, the two are great options for the average trader, but for investors who like the finest of everything and like to understand the products they invest in, the two are just not investment options. Here is a closer look at the two coins and the projects behind the cryptocurrencies.
The Projects Behind The Coins
Lisk is a cryptocurrency that was launched in 2016. The blockchain/platform behind the coin is a decentralized platform that enables users to develop and launch their own blockchain. Much like Ethereum and EOS, this platform uses smart contracts to enable users to create, publish and distribute their own platforms. The created platforms can also be monetized through ICO launches from the projects created.
One key feature that has set this platform apart from its competitors is its utilization of “sidechains”. This enables developers to link their projects to the platform allowing for flexibility, making it possible for developers to customize their blockchain platform entirely.
Binance Coin was created in 2017 and as the name suggests, it was created by Binance exchange. This cryptocurrency is rarely talked about but this is with good reason, unlike bitcoin and Ethereum this cryptocurrency was designed for use within the exchange. Binance exchange gives discounts on trades for traders who hold Binance coins. Given how much people love a bargain and the recent popularity of the exchange, the altcoin has been picking up. Binance exchange will knock off 50% charges of transaction fees for users who own Binance coin. This has been the bargain of the century given that the exchange already charges some of the lowest fees in the industry.
In addition to giving discounts, the coin has devised another great way of ensuring it is demand and its price keeps soaring. Once a quarter the exchange buys back Binance coins and burns them. Yes! The company dedicates 20% of its profit to buying back the coins and burning them. This will create a demand for the coin over time and in turn lead to a price increase.
The Minds Behind The Coins
Lisk was created by Max Kordek and Oliver Beddows. The project after its launch attracted a number of people from the Ethereum project, this included Charles Hoskinson and Steven Nerayoff. Over time the project has continued to attract more great people.
Binance coin comes from one of the greatest exchanges and with that some of the greatest minds. The CEO and founder, Changpeng Zhao, leads a team of highly qualified and experienced team. Having successfully launched and run the exchange among other startups, this team is certainly qualified to make this coin a success.
Lisk is designed for an industry that is ever growing but with it comes competition from better-established platforms like Ethereum and EOS. The platform will have to work harder to catch up and go past its competitors.
Binance on the other hand although it has no competition, its value is tied to the success of the exchange. If the exchange continues to be successful, the coin will continue soaring but should the exchange suffer losses, the coin shall fall with it.