what is the difference between Lisk forging and Eth mining?
The main difference is that Lisk uses a
cooperative, highly efficient system to add blocks to its blockchain, while Ethereum (like Bitcoin) uses a
competitive, highly-wasteful system.
Lisk calls their process "forging" (in the "blacksmith" sense of the word) and uses a continuous voting process to select the 101 people - and only 101 - with the best credentials to run network nodes. These people cooperate and take turns adding blocks to the blockchain, one ever ten seconds. Any particular person's turn to add a block comes every 17 minutes, and they are paid a flat fee of 5 Lisk at that time. Only one hash is made to secure the block. This means very cheap computers can be used like a $35 Raspberry Pi 2 or $9 CHIP to run a Lisk node, although a very low-latency internet connection is required because of the clockwork-like timing of the Lisk system.
Ethereum (and Bitcoin) have competitive mining. Anybody can try to become a miner and spend lots of money on expensive, fast equipment that can generate cryptographic hashes. Instead of voting, Bitcoin / Ethereum adjusts a "difficulty factor" that sets how many leading zeros the hash must have to "win" the right to forge a block and be rewarded with coins. Miners then randomly generate literally thousands of millions of billions of hashes, ANY ONE OF WHICH COULD CRYPTOGRAPHICALLY SIGN THE NEXT BLOCK ON THE BLOCKCHAIN, and throw them away if the number of zeros in the beginning of the file does not make them a "winner". The electricity wasted by this process is enormous and hidden from the public. The stupid ecological crime called "mining" exists not to "secure the Ethereum /Bitcoin blockchain", but instead only to enrich miners in a get-rich-quick scheme. This greed-based competition drives hash rates into unsustainable exponential levels that will eventually cause both Bitcoin and Ethereum to fail. Bitcoin is already there; see:
https://blockchain.info/charts/hash-rate?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=The simplicity, trivial cost, and microscopic environmental footprint of Lisk forging will replace the unsustainable growth and waste of Ethereum / Bitcoin mining in the future. Lisk IS the future.So, no mining and 101 nodes get rewards... whats in LISK for small fish?
A technically and environmentally sustainable coin that is not going to self-destruct in the future like Bitcoin is now and Ethereum eventually and inevitably will. A coin that will appreciate in value in the future because of its technical sustainability. A coin whose primary core focus is
only on sidechain / dapp development, instead of bolting these functions as an afterthought onto get-rich-quick schemes like "mining" and "gas" as Ethereum and Bitcoin do.