[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"7f50f7d6-43d9-46fc-ad64-2cfdc10a6f3b","updated_at":"2022-07-19T12:16:00+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"To keep Polkadot safe, Kusama was born as the Polkadot's canary network by serving as a warning system about any issues or updates that may threaten the stability of the network. Take a deep dive into Kusama network!","sapo":"To keep Polkadot safe, Kusama was born as the Polkadot's canary network by serving as a warning system about any issues or updates that may threaten the stability of the network. Take a deep dive into Kusama network!","title":"Kusama (KSM): Polkadot's Canary Network","content":"

Introduction to Kusama

Kusama is Polkadot's “dedicated” network, which detects and alerts any vulnerabilities or weaknesses in the Polkadot network.

Kusama functions as a sandbox that allows teams and developers to build and deploy a parachain or try out Polkadot’s functionality in a real environment.

Kusama attempts to give developers more flexibility while they finalize the design of their Polkadot projects. In turn, Kusama offers looser rules than Polkadot, including less stringent governance parameters.

About KSM token

Kusama (Symbol: KSM) is the native cryptocurrency of the Kusama blockchain platform.

KSM token plays a crucial role in maintaining and operating the Kusama network.

KSM token can be functioned for:

Staking Reward: To confirm transactions on Kusama's network, validators need to stake a certain amount of KSM. In return, they will receive a reward of KSM tokens for their contributions to the network.
Voting: KSM token holders can vote on various decisions within the platform to decide on the project’s future.
Fee: KSM token is used to pay transaction fees in the network.
Implemented parachains: Developers use KSM tokens to pay fees when deploying parachains on Kusama network.

History of KSM

Kusama was founded in 2016 by the creators of Polkadot: Gavin Wood, Peter Czaban, and Robert Habermeier.

From July 2019 onwards, anyone can claim KSM if they held DOT indicator tokens at the time of Kusama’s genesis block.

KSM token hit a staggering all-time high of $621.71 on May 18, 2021 and has retreated since.

How KSM works

There are two types of blockchains that creators are allowed to create on Kusama network:

The Relay Chain (the central chain): The main Kusama blockchain, this network is where transactions are finalized. To achieve a greater speed, the relay chain separates the addition of new transactions from the act of validating those transactions.
Parachains (Layer 1 blockchains linked to Relay Chain): Constituent blockchains which gather and process transactions.

Features of KSM

Kusama platform provides some of the noteworthy features for developers to choice:

Innovation: Kusama is built by the same teams as Polkadot, using nearly the same code and tools. The network places the latest tech from Parity Technologies and Web3 Foundation in the hands of developers, even before those features make it to Polkadot.
Scalability: Kusama’s sharded blockchains and open governance provide a scalable and future-proof infrastructure for businesses, marketplaces and applications to deploy and mature.
Interoperability: Kusama brings multiple blockchains together into one sharded network, freeing developers from the siloes created by legacy blockchain networks.
Customization: With Substrate, developers can build their own app-specific blockchain and connect it to Kusama.

Outlook on KSM

Kusama is a lot more than just proving grounds for its cousin Polkadot – it’s a fully independent and functional blockchain that provides all the same benefits Polkadot does.

Like Polkadot, Kusama aims to be a completely decentralized project, so once the parachains are launched, the future of both networks will depend entirely on the on-chain governance of their respective communities.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

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Kusama (KSM): Polkadot's Canary Network

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