Lisk wallet

Lisk covers a range of potential applications, including gaming, value transfer, content creation, supply chain infrastructure, healthcare, real estate, and more. Primarily catering to an enterprise audience, Lisk enables developers and businesses to deploy their own sidechains on the network, which can operate with their own custom tokens.

Lisk deploys an inflationary forging reward system as its monetary policy, where rewards began at 5 LSK per block issued, and subsequently decrease by 1 every 3 million blocks mined — finalizing at 1 LSK per block issued after 5 years.

When you first buy cryptocurrency, you’re issued with two keys: public and private.

• A public key serves as an address that can be shared with other parties to perform transactions.
• A private key represents a randomly generated number that signs transactions and protects your assets from malicious attacks. If it gets compromised or lost, you won’t be able to access your wallet to spend, withdraw, or transfer your coins.

To safeguard and keep track of your keys, you can use online or offline wallets. Online wallets, also known as hot wallets, store private keys on systems or devices that are connected to the internet. Hot wallets are easy and convenient to use, however, they come with several drawbacks. Besides being susceptible to attacks and a honeypot for hackers, with hot wallets, the custody of private keys is often entrusted to a third party such as a crypto exchange, which means you never have full control over your funds. The safer choice are specialized hardware wallets that store private keys offline. Stealing private keys from a hardware wallet would require physical access to the wallet and corresponding PIN or the recovery phrase. What’s more, with hardware wallet, you don’t need to rely on third party custodians.

Ledger Nano is the industry-leading hardware wallet. With more than five million customers, Ledger Nano wallets have several layers of security that protect private keys, and hence your assets:

• Your private keys are stored on secure element chips.
• A PIN code and a 24-word recovery phrase are required to access the wallet.
• Ledger Nano hardware wallets have been built using highly durable materials for protection against physical damage.

With full isolation between private keys and your computer/mobile, Ledger Nano wallets keep your keys secure and give you complete control over your cryptocurrencies.