Lisk Week in Review – 40
Featured in this news update:
– Lisk Foundation’s Financial Update (July)
– Initialize your account!
– AMA about Lisk codec
– Delegates’ overview
Lisk Foundation’s Financial Update (July)
According to the report, the Foundation holds € 3.32 million ( – € 400k compared to previous report) and CHF 1,61 million ( – CHF 100k compared to previous report). In addition, it owns 2,675 BTC, 62,000 GBYTE and 8.8 million LSK (- 50k LSK). This means that the total assets correspond to about $ 54 million.
In relation to the monthly expenses, the picture below summarizes the costs linked with each department:
Initialize your account!
There are more than 5 million LSK in danger because owners did not initialize their accounts.
Almost 2000 LSK per week are stolen by hackers, but do not panic: you just need to do a transaction (payment, delegate registration, voting tx) to fix it.
When you create a new address and fill it with some LSK you see an alert that tells you how to initialize your account (you only need a generic outgoing transaction).
Why do you have to do this? Because the address is a short way to show the public key, but it is less resistant to collisions. Sending a transaction, you record your public key on the blockchain and stop collisions’ attempts.
Delegate Minions incentivizes this procedure by sending 0.6 LSK to each address that holds LSK and decides to initialize it.
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Initialize your account!
There are more than 5 million LSK in danger because owners did not initialize their accounts.
Almost 2000 LSK per week are stolen by hackers, but do not panic: you just need to do a transaction (payment, delegate registration, voting tx) to fix it.
When you create a new address and fill it with some LSK you see an alert that tells you how to initialize your account (you only need a generic outgoing transaction).
Why do you have to do this? Because the address is a short way to show the public key, but it is less resistant to collisions. Sending a transaction, you record your public key on the blockchain and stop collisions’ attempts.
Delegate Minions incentivizes this procedure by sending 0.6 LSK to each address that holds LSK and decides to initialize it.
AMA about Lisk codec Maxime Gagnebin, Research Scientist at LiskHQ, hosted an AMA about his latest blog post on the implementation of a serialization method (LIP27, LIP28, LIP29, LIP30). Serialization is the way to convert objects (transactions, blocks, or accounts) into binary messages and it is important that the same object is converted into the same byte sequence every time and by all users. Serialization methods which generate small binaries improve the scalability of the network and its decentralization. The topic becomes more complex in relation to custom transactions: in SDK 4.0 there were two ways to proceed, but both had huge drawbacks. In SDK 5.0 LiskHQ is introducing Lisk codec, an efficient module to encode and decode JavaScript objects. This approach will not affect previous blocks, as if you want to recheck old signatures you will need the old serialization method, while after the block N you will use the newest one. The use of Lisk codec will improve the experience of developing custom applications, with less time needed to develop them and less risks of errors. Introducing Lisk Codec: https://lisk.io/blog/research/introducing-lisk-codec Delegates’ overview According to LiskMonitor, in the past week there was a moderate change in delegates’ landscape: GDT lost 16 million LSK and individuals lost 36M votes. At the time of writing, minions entered a forging position, surpassing 4miners.net in the top 101 list. At individual level, the most voted delegates are: minions [+1.4M], liskcenter.io [+720k], crypto_embassy [+2.2M], przemer [+2.2M], dav1 [+2.2M], jesusthehun [+2.2M], ultrafresh [+2.2M], johnmuck [+2.2M], anonymowy891 [2.2M], lemon [+2.2M]. The biggest individual losses came up for augurproject [-2.7M], acheng [-2.6M], panzer [-2.6M], grajsondelegate [-2.6M], jixie [-2.7M], mac [-2.5M], crolisk [-2.6M], bilibili [-2.5M], 4miners.net [-1.6M]. Voting for Hosts, it is possible to receive 1 free LSK by minions (no action required, just vote the list).We want to remind every #Lisk user to initialize their account by making at least one outgoing transaction. This can simply be a balance transfer to your own account. Initializing your account is highly recommended as it makes it more secure and prevents pre-image attacks.
— Lisk (@LiskHQ) August 14, 2020
