Quote from: LiskHQ on March 02, 2016, 02:17:56 PM

Quote from: HindsightHero on March 02, 2016, 01:34:22 PM

Since i did not get any answer to my last question i ask again. What will lisk coin be used for?
quote from MalReynolds "Sidechain dapps permanently free vs. mainchain perpetual "gas" payments required"
So where will the value of a lisk coin come from if it is not used as some kind of fuel like ether in ethereum?
Can someone can clarify this or is this just a stupid pump thread?

I'm very sorry HidsightHero that I didn't see your question.

Here you can see all fees which occur on the network. Long-term I see the need of recurring LISK payments. We will need to think about this, but maybe we will make the username and dapp registration payments recurring in the future. For example every 30 days the dapp dev needs to pay a fee so that the dapp stays in our dapp store. If he doesn't pay it, the dapp would still be available, but not visible in our dapp store.

That's one option to make the LISK tokens more needed. However, I suspect that 90% of the dapps will use LISK for internal functionalities.

Quote from: hello12345fds on March 02, 2016, 01:48:38 PM

Will alternative cryptos -ie btc,ltc be used for purchase of dapps alongside Lisk. Or will Lisk be the sole dapp purchase currency.

LISK is the crypto-currency which empowers the Lisk network, a decentralized application and custom blockchain platform. We will make big efforts for the IoT, IOTA has another use-case. E.g. send money on micro-processors.

A dapp doesn't need to be purchased by users, because this can be cheated by the dapp devs and users. But it needs to be registered on the blockchain, this is only possible with the LISK token (500 LISK).

For reference, from the Lisk Whitepaper, below are the existing fees:

Quote

The default network fee for sending an LISK transaction is 0.1 LISK. For example, a 100 LISK transaction includes an additional fee of 0.1 LISK for a total transaction cost of 100.1 LISK.

The following is a list of fees for different types of transactions:

   0.1 LISK of amount sent for a spend transaction
   5 LISK for registering a second passphrase
   100 LISK for registering a username
   100 LISK for registering as a delegate
   1 LISK to add a contact
   500 LISK to register a dapp
   5 LISK per member for registering a multi-signature group.

Originally in Crypti, part of the business model was that Crypti was selling consensus as a service, so there would be a small fee to update the main Crypti blockchain with the current hash of the dapp sidechain. The dapp owner could set the frequency of this consensus up to a maximum frequency defined by the Crypti blocktime, 10 seconds. So a deep space network using a dapp to authenticate spacecraft might only secure itself with the main Lisk chain once every 24 hours while a prediction market may secure consensus every 10 seconds with the main chain.

This was part of the originally planned recurring revenue model for Crypti, so maybe it will be added to Lisk at some point.

It would also make sense to charge dapps some kind of "rent" to continue to reside on the Lisk main chain. Not only would this be another recurring revenue source, but it would eventually purge the main chain of inactive dapps.

Finally, while dapps can have their own internal tokens, cross chain exchanges between dapps will need to go through the Lisk main chain, resulting in a total transaction fee of .2%, .1% each way into and out of the main chain.

(Note: looks like whitepaper needs to be updated, "0.1 LISK of amount sent for a spend transaction" should be "0.1% LISK of amount sent for a spend transaction".