Kusama

(KSM)
Kusama is a cryptocurrency that has a permissionless network that aims to improve the user-experience of crypto owners. It is a multichain network based on specialized blockchain that is scalable for progressive innovation.
CURRENT VALUATION
300 mln
THE HIGHEST VALUATION
361 mln
CURRENT YEARLY RETURN
11.6%

Interesting Facts

  • It is a network that functions as Polkadot’s testing ground for experiments with their innovations and changes.

  • Kusama has a modified governance parameter that makes it different from Polkadot. It allows faster voting and implementations of upgrades, based on the vote.

  • It has a network infrastructure that includes a relay chain, bridges, and parachains.

  • Originally created as an unrefined, unaudited, and earlier version of the Polkadot.

  • It runs on a Web 3.0 system platform, which also happens to be Blockchain-based.

Project in a nutshell

Kusama was developed to help improve the efficiency of project governance, and make it more feasible and user-friendly. This can then be applied to the rest of cryptocurrencies, which would then make them enter the mainstream market more easily.

From the developers’ point of view, it is a proving ground for runtime development, parachains, and network governance.

The developers of this project have seen the relationship between technology and society have become imbalanced that some large entities overpower their authority.

This was built for a fast-moving and risk-taking dimension for Polkadot. It is an active platform for change agents that will be used for development, innovation, and control.

Which exchanges is this coin listed on?

CONTENT BELOW SUITED FOR MORE ADVANCED USERS

More in-depth review of the project

Running nearly with the same code as its cousin, 'Polkadot', Kusama runs as a scalable network of specialized types of blockchains, that was built with the use of Substrate.

Adapting to an experimental development environment, this where the development team runs some tests to innovate Kusama at the same time prepares the program deployment for Polkadot.

It uses a nominated proof of stake consensus, involving the nominators and validators to maximize their chain's security.

The role of validators runs for both guaranteeing the final chain and the validity of the blocks, on the other hand, nominators help choose the validators based on their support of the platform.

Kusama tokens are called ‘KSM’, it is used for network transactions, vote and governance, and message fees.

Future plans

  • The company focused on details that incorporated on-chain authority discovery, revamp on the network governance system, and prefix storage mapping.

  • In the early 2020s, Kusama attempted a runtime upgrade, which failed. The team, however, was able to respond to the issue and recovered the system back to its normal pace.

  • The networks new decentralized, on-chain governance system has passed Referendum 4, unlocking the KSM token transfers and removing the sudo requirements.

  • Kusama aims to further improve its Blockchain system to prevent expected rising cases of cybersecurity issues. It will do this by updating its framework every once in a while, thereby reducing the chances of any security breaches that might put the reputation and usefulness of the crypto at stake.