Lisk is a modular platform that allows developers to easily create their own blockchains and applications. Each application runs on its own independent blockchain. Lisk's native token, LSK, plays important roles in the network, such as transferring value, paying transaction fees and voting through the Delegated Proof of Stake (DPoS) consensus mechanism. By contributing to the security of the network, LSK holders can have a say in the future of the platform.
LSK, which has risen 4.20% in the last 24 hours and at the time of writing, is among the day's risers. Lisk, an Ethereum-based cryptocurrency project, announced plans to burn 25% of the total supply. This includes burning 100 million of the total supply of 400 million. It is known that the community vote will start on September 24 and will last until October 1. This vote offers the community an important opportunity to determine Lisk's strategic direction. Cryptocurrency commentators have stated that the community will most likely decide to burn. This news may have had a positive impact on the price even before the vote has started.
