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Kusama (KSM) Price



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About Kusama (KSM)

Self-dubbed as Polkadot’s “wild cousin,” Kusama is a canary network for blockchain experimentation.  

Early, unaudited and unrefined, as it is described in a Polkadot blog post, Kusama nevertheless is live, leveraging its kindred Polkadot network’s technology. Kusama carries real economic conditions but has no “central kill switch,” its creators emphasize.

KSM is Kusama's native asset. Holding and staking their KSM, Kusama network users govern upgrades, and power/secure operations, incentivized via newly minted KSM tokens, according to CoinGecko.

Built upon Substrate (a blockchain development kit from Parity Technologies), Kusama’s codebase parallels that of Polkadot’s. Both Polkadot and its offshoot have the same basic objective: to be as interoperable and scalable as possible. Higher-risk projects can be bold when building on Kusama, a sandbox setting for initial deployment, and not to be confused to the relative safe havens that are testnets.

“It’s tailor-made for developers looking to innovate and radically push the limits,” Moralis Academy said.

The collaboration between Polkadot and Kusama positions the pair in what has now become a flourishing “parachain” environment birthing ecosystems galore. Parachains are custom blockchains, auctioned to developers as a hub for their projects. The slot recipients put down roots on the parachain but use the computing resources of the main Kusama blockchain, or relay chain, where transactions are finalized.

Unusual amongst its peers, Kusama thrives on a multichain, heterogeneously-sharded design that utilizes a nominated proof-of-stake (NPoS) system, which acts as an alternative consensus mechanism to the typical proof-of-work (PoW) infrastructure. Put another way, Kusama puts a premium on cross-chain pollination and energy efficiency.

Funded by grants from the Web3 Foundation, Kusama says it boasts a dedication to “nurturing technologies and applications in the fields of decentralized web software protocols.”

True, Kusama attracts projects requiring fast-paced, trial-by-fire development. But community-building remains a focal point, too. Kusama’s governance system is decentralized and permission-less, granting KSM holders the right to vote on changes to the protocols. And this process takes only 15 days. That’s four times faster than Polkadot’s voting time periods, a contrast that is emblematic of Kusama’s commitment to the “move fast, break stuff” ethos associated with technology pioneers.

Kusama, in Medium posts, insists it’ll only operate for as long as its community continues to let it. Acknowledging the time and money that goes into getting a project up and running, Polkadot has decreased the cost of their Kusama canary-net parachain auction slots, according to an early DOT backer, Digital Finance Group’s James Wo; and as a result, projects from alternate ecosystems can quickly integrate into either Kusama or Polkadot.

The Kusama network is governed and maintained by the transactions tied to its native token, KSM, airdropped to those who participated in past Polkadot token sales. KSM has since done away with previous barriers to obtaining the token so as to increase accessibility.

Kusama was established in 2019 by Parity Technologies, the founders of Polkadot. Parity is led by Gavin Wood, a world-renowned programmer and crypto innovator who helped develop Ethereum. Shaping the earliest underpinnings of blockchain technology has enabled Wood to develop a tandem of Ethereum rivals, Polkadot and Kusama, each drafting off the strengths of the other, and representing serious competition in the battle for smart contract facilitation supremacy.

Kusama supports the technology of Polkadot while forewarning developers to potential problems that could inhibit their projects prior to deployment on Polkadot, leveraging the power and security of the relay chain (Kusama) via parachains which developers can customize for any use.

Indeed, Kusama has opened its doors to myriad projects. Moonbeam has emerged as one of the most significant. Aiming to resolve various underlying issues within layer-1 and layer-2 blockchain technology, Moonbeam is further advancing the prospect of a multi-chain future, according to NewsBTC.

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