Widely described as the first modular blockchain, Lisk allows projects to create their own sidechains built on its decentralized network. These sidechains can then be used for a variety of purposes, including hosting decentralized applications (dApps), testing software functionality and even launching a new consensus protocol.
Part of the reason why Lisk is expected to boom in future stems from its open access approach to blockchain development, by allowing developers to build and deploy decentralized applications using JavaScipt (JS), rather than requiring blockchain-specific languages such as Solidity and Serpent. Because of this, Lisk is expected to be among the first to benefit from the mass adoption of cryptocurrencies.
In the months following its launch in 2016, Lisk remained a relatively unknown cryptocurrency, though did enter the market at a small multiple of its ICO price. However, Lisk really rose to prominence throughout late 2017 and early 2018, as it’s market cap swelled to reach over $4 billion, while the value of LSK soared to almost $39 each.
As it stands, Lisk remains one of the largest cryptocurrencies by market capitalization and is currently sitting at a just under $200 million market cap. Because of its huge potential to undergo another boom, many people are holding LSK for the long-term, expecting it to climb above its all-time high at some point in the near future.
Currently, one of the best ways to securely store your LSK is by combining the security of a cryptocurrency hardware wallet, with Liskish — currently the only Lisk wallet to support hardware wallet integration. The focus of this article will be getting your Ledger Nano S connected with Liskish, so you will need both your Ledger Nano S and Liskish installed to complete this guide
Connecting Liskish and the Ledger Nano S
Make sure to update your “Ledger Live” App from here:
Step 1: To use your Ledger Nano S with Liskish, you will first need to load the Liskish wallet app.
After loading Liskish, connect your Ledger to your computer using an official Ledger USB cable. Once connected, unlock the device using your PIN and open the Lisk app. After this, you should see a prompt showing that your Ledger device has been detected, and your Ledger Nano S will now be listed under the list of available devices.
Step 2: With your Ledger Nano S now connected to Liskish, you will now need to login. To do this, click the small login icon next to where it says ‘Ledger Nano S’.
Step 3: Liskish Wallet will then ask you to verify your Lisk address. Carefully check that the address shown on Liskish Wallet matches that shown on your Ledger device screen. If this is correct, press the right device button once to confirm.
Step 4: Once you have verified your Lisk address, Liskish will automatically redirect you to your wallet.
Here, you will be able to perform a variety of basic functions, including sending payments through the ‘SEND’ tab, displaying your address and QR code in the ‘RECEIVE’ tab, and participate in voting through the ‘Voting’ tab. Note that you will need your Ledger connected and unlocked to send payments.
You’re all set! With your Ledger connected to Liskish your LSK will be protected by hardware-grade security.
Next up — learn how to squeeze even more functionality out of your Ledger Nano S by installing the FIDO U2F app!