Kusama

Kusama

KSM
$31.15%1.00

Key Metrics

Price$31.15
Real Volume (24H)$18,902,969.15
Marketcap$263,836,343.27
Fully Diluted Valuation$100,000,000
ATH$621.71
ATH Date5/18/2021, 8:04:41 AM
ATL$0.876572
ATL Date1/14/2020, 10:20:20 PM
Circulating Supply9M
Total Supply10M
Popularity Rank199
Chart
What is Kusama?

Kusama is a public pre-production environment for the Polkadot network, allowing developers to create and test new blockchains or apps before publishing them on the main network. It is considered an early, unaudited, and unpolished version of Polkadot and is designed as a proving ground for teams and developers to design and deploy a parachain or review Polkadot’s governance, staking, nomination, and validation features in a real context.

The Kusama network is powered by its own native token, KSM, which can be used to participate in the network’s governance. The platform serves as a test bed for developers looking to innovate and deploy their blockchain. Kusama is a preliminary network for projects before they are ultimately released on Polkadot, but many projects choose to utilise Kusama as their ultimate product.

Kusama was developed in 2016 by Polkadot developers Gavin Wood (a co-founder of Ethereum), Peter Czaban, and Robert Habermeier. Wood was the Ethereum Foundation’s first CTO and is the head of the Web3 Foundation, a nonprofit that oversaw Polkadot’s token sales, generating around US$200 million from investors.

KSM tokens are the Kusama network’s native token. In July 2018, Polkadot (DOT) token holders received KSM tokens through Ethereum transactions. The transactions were successful, and the DOT token holders received a spot on Kusama’s genesis block. However, after one-and-a-half months, Kusama modified the method of claiming KSM tokens by adopting the proof of authority (PoA) paradigm.

To ensure the safe startup of Kusama, the team decided to implement a POA system for the soft launch, with nodes run by the Web3 Foundation. Later, Kusama switched to a nominated proof of stake (NPoS) system for its network. Kusama transformed from the original centralised POA system from Web3 nodes to a new decentralised system.

On Kusama, users gain the capacity to vote on network enhancements by owning and staking KSM cryptocurrency, with each vote proportional to the amount of KSM they stake. Kusama rewards these users with freshly minted KSM, depending on the number of tokens staked, with validators and nominators getting additional rewards.

In summary, Kusama is an open-source blockchain platform that provides developers with a test environment for creating new blockchain projects and experimenting with new features. It is a pre-production version of Polkadot, which aims to act as a proving ground for teams and developers. Kusama's native token, KSM, can be used to participate in the network's governance, and the platform rewards users who stake KSM with freshly minted tokens. It is a great choice for early-stage start-ups and experimentation with low bond requirements for validators.

Kusama is designed to be a highly flexible and adaptable network, allowing for the development and testing of a wide range of projects and applications. This includes everything from decentralized finance (DeFi) platforms and non-fungible tokens (NFTs) to governance and identity systems.

One of the key features of Kusama is its interoperability. The network is built on the Substrate framework, which allows for easy integration with other blockchains and networks. This means that developers can create projects that connect with other networks, such as Ethereum, and leverage their existing user bases and communities.

Another important aspect of Kusama is its governance model. The network is run by a decentralized autonomous organization (DAO) that is controlled by KSM token holders. This allows for a highly democratic and transparent system, where token holders have a direct say in the direction and development of the network.

In terms of scalability, Kusama is designed to be highly performant and efficient. The network uses a sharded architecture, which allows for parallel processing and increased throughput. This means that the network can handle a high volume of transactions, making it well-suited for high-demand applications such as gaming and online marketplaces.

Kusama also has a strong focus on security and safety. The network is built on a robust consensus algorithm that ensures the integrity and security of transactions. Additionally, the network is constantly monitored and audited to ensure that it is operating as expected and to identify and fix any issues that may arise.

Overall, Kusama is a powerful and versatile platform that offers a wide range of possibilities for developers, entrepreneurs, and investors. With its open-source nature, flexible design, and strong governance model, Kusama is well-suited for a wide range of projects and applications, making it a compelling choice for anyone looking to innovate and experiment in the blockchain space.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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