Lisk Core 3 - new mainnet

Some highlights of the new Lisk network and key changes to the Lisk Core protocol.

Read more about the news at: Meet the New Lisk Mainnet

Lisk Hardfork and migration¶

Lisk Core 3.0 is a completely new blockchain, when you log in you will see your own balance but without transaction history.
Hardfork (Migration) took place during block 16,270,292
(August 21, 2021 around 12:00)
The end of the transition period occurred during block 16,332,092
(August 29, 2021 around 1:30)

New Address System¶

New, longer addresses that always start with lsk. lsk7eku44sqzddjfv8gyueaxebqx7osq3rxmm855u
Every initialized wallet was automatically migrated to the new system.
Wallets created after hardfork no longer need initialization.
Wallets created before hardfork that have not performed any outgoing transactions require a special "Reclaim" transaction, which will transfer funds from the old wallet to the new wallet.
A minimum of 0.05LSK must remain on each wallet to prevent dust wallets.
With a checksum at the end of the address, the user can make a mistake of up to 4 characters in the address and is guaranteed that the application will detect it.

New delegate and voting system¶

Votes during hardfork have been reset.
Every 1 LSK = 1 vote.
A maximum of 10 delegates can be voted from one wallet.
Any number of coins can be voted for each delegate.
Delegate voting is divided into two stages (transactions):
1. Unvote of the delegate(s), which starts a countdown of 6 hours, after which it will be possible to do an unlock.
2. Unlock tokens, which allows you to continue to manage the tokens.
By voting for himself, the delegate locks his tokens for 30 days.
One round forgives 101 active delegates and 2 randomly selected from others who have over 1k self-vote.

Dynamic Fees¶

Static fees have been replaced by dynamic fees.
The minimum fee on each transaction is always burned to protect the system from various game theory attack scenarios.

Fee schedule¶

Type	Old fees	New fees
Transfer	0.1 LSK	~0.002 LSK
Voting	1LSK	~0.002 LSK
Unlock vote	-	~0.002 LSK
Delegate Registration	25LSK	~10LSK

/ State on September 1st 2021 /

Lisk BFT consensus¶

With sidechains and interoperability coming into the Lisk ecosystem in the next major release of Lisk Core v4, blockchain applications will be able to facilitate transactions across multiple blockchains. To achieve this, it is necessary to guarantee that a sent transaction can never be reverted again. That is precisely what our newly implemented Lisk BFT consensus algorithm is doing.

A block will become final on average after 155 blocks or approximately 26 minutes after it was included in the blockchain.
If the block height of the block is lower than the finalized height, it is 100% ensured that this block and all its contained transactions are final and cannot be reverted or changed again.

Significant Performance Improvements¶

The performance of Lisk Core has been improved in multiple ways. The main improvements are listed below:

Smaller blockchain size: The blockchain data is now stored in a key-value store instead of a Postgres database. Therefore, the required blockchain size has diminished and is now around 10 times smaller.
Faster query response times: API query response time has improved significantly.
Faster block processing time: The time required to process a block has decreased by 3 times on average for empty blocks and over 33 times for blocks containing transactions.
Increased maximum transactions per second (TPS): Byte based blocks allow the inclusion of many more transactions in a block.

New Modular Architecture¶

The overall development experience has improved greatly by creating a completely modular architecture of the blockchain application, whereby all different components of the application can be changed, extended, or replaced by the developer.

The Lisk Commander has become a powerful CLI tool, which greatly simplifies the creation of blockchain applications. For example, it is now possible to bootstrap a completely new blockchain application with one single command, or to generate skeletons for new modules, plugins, or assets for a blockchain application.

Lisk Explorer¶

LiskHQ since Core 3.0 does not run its own explorer, at this point we have 2 explorers from the community:

For one year, it will be possible to view the history of the old blockchain at legacy-explorer.lisk.com

Wallets¶

At this moment only Lisk Desktop 2.0 wallets support Lisk Core 3.0.
Hardware wallets at this moment are not supported by Lisk Desktop 2.0, this should happen with the update to Lisk Desktop 2.2.
Lisk Mobile at this moment does not support Lisk Core 3.0, we don't know the date of the update.
Lisk Nano has been unsupported for a long time.

Exchange listings¶

Due to the completely new address and transaction handling system, LiskHQ did not seek to list on the new exchanges before hardfork, as this would have required the exchanges to reprogram the system virtually from scratch.
LiskHQ never paid for listing on new exchanges.
Max Kordek mentioned that we may see new exchanges after Lisk Core 3.0