Lisk has seen new lows since it started declining at a severe rate back from the beginning of May when the crypto was still being traded at the price of 13$, from which its current price of a bit under 3$ seems far away.
However, the team seems to be working on the new developments despite the damages that the frequent market dips have brought upon Lisk and its peers in the market. That is how the team shared an announcement regarding the latest developments that the Lightcurve Dev teams have been working on during the last couple of weeks.
The official technical development update as published on Medium came during the end of the last week, on October 18th, and prior to the announcement, the team is said to have released Lisk Core version 1.1.0 to the test net.
What are the crucial development updates the team is still working on and how will these new developments affect Lisk in the future.
Lisk Releases Lisk Core Version 1.1.0 to Test Net
In the announcement that came from the Lisk dev team representatives, it has been stated on October 18th, that the team is working on new crucial developments, while one of such updates was already released to test net.
The team announced that they have released the new core version of Lisk, called 1.1.0 to the test net on October 17th, further adding that the test net version had to go through a hard fork, which is the case due to some incompatible suffixes that appear in the test net version of Lisk core version.
However, hard fork won’t be necessary once Lisk core is released to the mainnet. Moreover, the team emphasized the importance of the new core version, stating that Lisk Core 1.1.0 will enable easy switching between mainnet, test net, and beta net, which means that the testing ought to be performed in a simplified manner in oppose to the previous case.
The team also stated that the new upgrade to Postgres 10 will enable a more functional as well as more secure ecosystem, which should at least add more value to Lisk as a blockchain-based project, eventually affecting its performance in the market as a consequence.
The team behind the 29th largest cryptocurrency also fixed numerous issues they have encountered during their work on the latest core version of Lisk, announcing that they are already commencing with designing Lisk Core version 1.2.0, currently said to be in QA phase.
Moreover, Lisk released a new mobile wallet, which allows LSK users to gain access their Lisk wallets straight from their smartphones, alongside with enabling multiple functions with the new wallet design, that way creating a sleek experience for LSK utilization and safe storing.
What is Next for Lisk (LSK)?
The team is already working on the next version of Lisk Core, dubbed 1.2.0, which should become available on the test net once Lisk Core 1.1.0 is released to the mainnet.
Additionally, the team already announced working on version 1.4.0, while Lisk Core 1.3.0 is said to be already finished, but should become available only after Lisk Core 1.2.0 is released to the main net.
Outside of the technological developments of Lisk, LSK is currently seen in a rebound against the fiat, although it’s showing negative performance on bi-weekly, monthly, and its YTD charts, losing nearly -40% in the course of the last year.
Still, being traded just below 3$, which appears to be its newest all-time low, Lisk seems to be awfully underrated.
On the bright side, LSK is showing a slight progress in the last seven days by climbing by nearly 2% in the last seven days, also collecting gains of 1.5% in the last 24 hours.
The main goal behind the network is to provide a functional and effective ecosystem for building Dapps; however, Lisk might only see some major progress in case the team finds a way of attracting more developers to their network, which might be as well succeeded with the Core versions in preparation.
Once Lisk is able to attract more decentralized application developers to its network and hopefully keep them there, the network could consequently bring LSK to the increased demand, which should then, as a result, improve the overall performance of Lisk in the market as well.
