The blockchain starts running at the end of IPO around March 22.  There is no mining algorithm.  There is a circle of 101 elected delegates, and they take turns cooperatively adding blocks to the blockchain.  Blocks are added every 10 seconds and any particular delegate will add their block every 17 minutes.   Each delegate will receive around 150K Lisk in year one for their service, accumulating 5 Lisk per block added.  In subsequent years they will earn less.  This system is like clockwork and maximizes efficiency.  It is is one of many points that make Lisk superior to Bitcoin and Ethereum.