Select...
KSM
Loading...
Kusama
Loading...

About Kusama

The price Kusama today is 185.96 USD, and the trading volume in 24 hours - 140,031,841 USD. The crypto asset has grown by 6.98% over the day. Currently, the coin’s market capitalization is 1,575,134,575 USD, and has 8,470,098 coins in circulation with the max supply of 9,651,217 coins KSM.

What is Kusama (KSM)?

Kusama, which is self-proclaimed as the "wild cousin of Polkadot," is an experimental blockchain platform designed to provide developers with a feature-compatible and scalable framework.

Kusama is built on a subsystem-a blockchain construction kit developed by Parity Technologies. Kusama has almost the same code base as Polkadot, one of the most successful interoperable blockchains.

Fast-growing projects deployed on Kusama gain access to a highly scalable, interoperable segmented network with features not yet available on Polkadot. 

The platform is designed to provide a test platform for developers who want to innovate and deploy their own blockchain, and can be used as a preparatory network before launching on Polkadot, although many projects prefer to use Kusama for their final product.

Kusama benefits from a low entry threshold for deploying parachains, low requirements for validators, and is most often used by early-stage startups and for experimentation.

Who are the founders of Kusama?

Kusama was created by the same team that created Polkadot, a company known as Parity Technologies. Its founder is Dr. Gavin Wood, a world-renowned computer scientist and programmer who is also the co-founder of Ethereum.

Parity Technologies has an extensive team consisting of some of the world's most successful blockchain engineers, and has more than 100 employees worldwide.

In addition, Kusama is funded by grants from the Web3 Foundation, which was launched to help " develop and manage technologies and applications in the field of decentralized web software protocols." The Web3 Foundation also supports the project in research and community development through its team.

What makes Kusama unique?

Kusama is unusual among blockchain platforms, as it is mainly created for developers who want to launch bold, ambitious projects with a fast-paced pace of development.

It is built on a multi-chain, heterogeneously segmented design that uses a nominal proof - of-ownership (NPOs) consensus system-an alternative consensus mechanism compared to the energy-intensive proof-of-work (POW) scheme used by several other blockchains.

This system allows it to perform fast in-chain updates without a fork, and to support inter-network messaging (XCMP) to allow communication with other parachains on the Kusama network.

How many Kusama Coins (KSM) are in circulation?

As of February 2021, Kusama has 8.47 million tokens in circulation, and a total of 10 million tokens. Unlike some other blockchains, this maximum supply is not fixed. Instead, it increases at an inflation rate of 10% per year.

How is the Kusama network protected?

Kusama is built using the Nominated Proof of Stake (NPOs) consensus mechanism.

This uses a network of nominators (KSM stackers) that select nodes to participate in the transaction verification process. These nominees receive a portion of the inflationary reward if their nominee is selected in the next rotation. Validators that act dishonestly or do not meet the performance requirements can be reduced.

In addition, Kusama uses a simple Merkle tree-based queuing mechanism to resolve inter-network transactions. The relay chain validators are responsible for moving transactions from the output queue of one parachain to the input queue of the target parachain. It is a secure, trust-free process that uses the same validators in each chain to pass messages.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
Loading...