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Kusama

Kusama

View Kusama crypto price and chart live, KSM market cap, 24-hour trading volume, circulating supply, latest news and more.

What Is Kusama (KSM)?

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Who Are the Founders of Kusama?

Kusama was built 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 also co-founded Ethereum.

Parity Technologies has an extensive team comprised of some of the world's most successful blockchain engineers, and has over 100 employees in total spread throughout the world.

In addition, Kusama is funded by grants from the Web3 Foundation, which was launched to help "nurture and steward technologies and applications in the fields of decentralised web software protocols." The Web3 foundation also supports Kusama with research and community development thanks to its growth team.

What Makes Kusama Unique?

Kusama is unusual among blockchain platforms since it is predominantly built for developers that want to launch bold, ambitious projects, with a fast-evolving pace of development.

It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake (NPoS) consensus system — an alternative consensus mechanism to the energy intensive proof-of-work (POW) scheme employed by several other blockchains.

This system enables it to perform rapid on-chain upgrades without a fork, and support cross-chain message passing (XCMP) to enable communication with other parachains on the Kusama network.

Like Polkadot, Kusama features on-chain governance capabilities. This on-chain governance is both decentralized and permission-less, allowing anybody with Kusama (KSM) tokens or parachain tokens to vote on their respective governance proposals, which might include putative upgrades, changes to the protocol, and feature requests. This on-chain governance procedure is roughly four times faster than that offered by Polkadot, with a combined voting and enactment period of just 15 days — leading to the rapid pace of development for projects built on Kusama.

The project serves projects that want to hit the ground running, launching updates and improvements without the need to implement a fork to do so — thereby ensuring maximum community cohesion.

Related Pages:

Read more about Polkadot (DOT) — which is like Kusama (KSM), but enterprise-focused.

Check out Ethereum (ETH) — one of Kusama’s major competitors.

Brush up on your crypto basics with CoinMarketCap Alexandria.

Visit the CoinMarketCap blog for the latest news, tips, tricks and market insights.

How Many Kusama (KSM) Coins Are There in Circulation?

As of November 2020, Kusama has a circulating supply of 8.47 million tokens, and a total supply 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.

The proportion of KSM that are staked changes how the newly minted KSM tokens (from inflation) are distributed. If exactly half of all KSM are staked, then Kusama validators receive 100% of newly minted tokens, whereas if it is above or below 50%, then some of the inflation rewards will go to the Kusama Treasury.

Kusama initially launched as an airdrop to those that participated in Polkadot (DOT) token sale. These were distributed at a 1:1 rate, while those without DOT were able to obtain KSM by using a frictional faucet — this has since been decommissioned. Unlike Polkadot, Kusama has not undergone redenomination to increase its circulating supply.

How Is the Kusama Network Secured?

Kusama is built using a nominated proof-of-stake (NPoS) consensus mechanism.

This uses a network of nominators (KSM stakers) who elect nodes to participate in the transaction validation process. These nominators receive a fraction of the inflation reward if their nominator is selected on the next rotation. Validators that act dishonestly or don't meet performance requirements can have their stake slashed.

Additionally, Kusama uses a simple queuing mechanism based on Merkle trees to resolve cross-chain transactions. Relay chain validators are responsible for moving transactions from the output queue of one parachain to the input queue of the target parachain — this is a secure, trustless process that uses the same validators on each chain to pass the messages.

Where Can You Buy Kusama (KSM)?

Kusama (KSM) is currently available to trade on dozens of popular exchange platforms, including Binance, OKEx and Huobi Global. The most liquid trade pairs for KSM are currently KSM/USDT, KSM/BTC and KSM/ETH.

What Is Kusama (KSM)?

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama is a scalable network of specialized blockchains built using Substrate and nearly the same codebase as Polkadot. Это experimental development environment for teams who want to move fast and innovate on Kusama, or prepare for deployment on Polkadot.

Kusama is owned and governed by a community of network participants who vote on and control the

evolution of the network. Have a voice and make your mark in the evolution of the network.

KSM Price Live Data

The live Kusama price today is $176,40 USD with a 24-hour trading volume of $64 628 354 USD. We update our KSM to USD price in real-time. Kusama is down ,39% in the last 24 hours. The current CoinMarketCap ranking is #60, with a live market cap of $1 494 140 036 USD. It has a circulating supply of 8 470 098 KSM coins and the max. supply is not available.

If you would like to know where to buy Kusama, the top cryptocurrency exchanges for trading in Kusama stock are currently Binance, OKX, FTX, CoinTiger, and BitCoke. You can find others listed on our crypto exchanges page.

What Is Kusama (KSM)?

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Who Are the Founders of Kusama?

Kusama was built 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 also co-founded Ethereum.

Parity Technologies has an extensive team comprised of some of the world's most successful blockchain engineers, and has over 100 employees in total spread throughout the world.

In addition, Kusama is funded by grants from the Web3 Foundation, which was launched to help "nurture and steward technologies and applications in the fields of decentralised web software protocols." The Web3 foundation also supports Kusama with research and community development thanks to its growth team.

What Makes Kusama Unique?

Kusama is unusual among blockchain platforms since it is predominantly built for developers that want to launch bold, ambitious projects, with a fast-evolving pace of development.

It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake (NPoS) consensus system — an alternative consensus mechanism to the energy intensive proof-of-work (POW) scheme employed by several other blockchains.

This system enables it to perform rapid on-chain upgrades without a fork, and support cross-chain message passing (XCMP) to enable communication with other parachains on the Kusama network.

Like Polkadot, Kusama features on-chain governance capabilities. This on-chain governance is both decentralized and permission-less, allowing anybody with Kusama (KSM) tokens or parachain tokens to vote on their respective governance proposals, which might include putative upgrades, changes to the protocol, and feature requests. This on-chain governance procedure is roughly four times faster than that offered by Polkadot, with a combined voting and enactment period of just 15 days — leading to the rapid pace of development for projects built on Kusama.

The project serves projects that want to hit the ground running, launching updates and improvements without the need to implement a fork to do so — thereby ensuring maximum community cohesion.

Related Pages:

Read more about Polkadot (DOT) — which is like Kusama (KSM), but enterprise-focused.

Check out Ethereum (ETH) — one of Kusama’s major competitors.

Brush up on your crypto basics with CoinMarketCap Alexandria.

Visit the CoinMarketCap blog for the latest news, tips, tricks and market insights.

How Many Kusama (KSM) Coins Are There in Circulation?

As of November 2020, Kusama has a circulating supply of 8.47 million tokens, and a total supply 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.

The proportion of KSM that are staked changes how the newly minted KSM tokens (from inflation) are distributed. If exactly half of all KSM are staked, then Kusama validators receive 100% of newly minted tokens, whereas if it is above or below 50%, then some of the inflation rewards will go to the Kusama Treasury.

Kusama initially launched as an airdrop to those that participated in Polkadot (DOT) token sale. These were distributed at a 1:1 rate, while those without DOT were able to obtain KSM by using a frictional faucet — this has since been decommissioned. Unlike Polkadot, Kusama has not undergone redenomination to increase its circulating supply.

How Is the Kusama Network Secured?

Kusama is built using a nominated proof-of-stake (NPoS) consensus mechanism.

This uses a network of nominators (KSM stakers) who elect nodes to participate in the transaction validation process. These nominators receive a fraction of the inflation reward if their nominator is selected on the next rotation. Validators that act dishonestly or don't meet performance requirements can have their stake slashed.

Additionally, Kusama uses a simple queuing mechanism based on Merkle trees to resolve cross-chain transactions. Relay chain validators are responsible for moving transactions from the output queue of one parachain to the input queue of the target parachain — this is a secure, trustless process that uses the same validators on each chain to pass the messages.

Where Can You Buy Kusama (KSM)?

Kusama (KSM) is currently available to trade on dozens of popular exchange platforms, including Binance, OKEx and Huobi Global. The most liquid trade pairs for KSM are currently KSM/USDT, KSM/BTC and KSM/ETH.

To learn more about buying cryptocurrencies with fiat, see our comprehensive guide.

Kusama is the wild cousin of Polkadot. Moreover, Kusama herself proclaimed so. It is an experimental blockchain platform designed to provide developers with a highly functional and scalable environment. Kusama is built on Substrate and is a blockchain build kit. Developed by Parity Technologies. Kusama has almost the same base as Polkadot. Polkadot is one of the most successful interoperable blockchains. When deployed in Kusama, fast-growing projects gain access to a highly scalable, interoperable sharded network with features not yet available in Polkadot. To this end, Kusama refers to himself as the "canary network".

The platform is designed to provide test benches for developers. They, in turn, strive to innovate and deploy their own blockchain. It can also be used as a preparatory network before running Polkadot. At the same time, many projects prefer to use Kusama for their final products. Kusama benefits from a low entry threshold for deploying parachains, low collateral requirements for validators, and is most commonly used by startups in their early stages and for experimentation.

Kusama was created by the same team that created Polkadot. The company is called Parity Technologies. Its founder is Dr. Gavin Wood, an internationally renowned computer scientist and programmer who is also the co-founder of Ethereum. The Kusama team has over 100 employees worldwide. They are excellent engineers all over the world. 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."

Kusama is unique and one of a kind. It is a unique blockchain platform. It was created mainly for developers. Which are happy to launch bold and ambitious projects, with a very fast pace of development. This system makes it possible to achieve fast updates, all this happens in a chain without a fork. However, it supports message forwarding between different XCMP chains. This is necessary to keep in touch with other parachains in the Kusama network. The project caters to projects that want to hit the ground running by launching updates and improvements without having to implement a fork to do so, thus ensuring maximum community cohesion.

As of November 2020, Kusama already has 8,470,000 tokens in circulation. At the same time, the total supply is about 10 million cryptocurrency coins. Unlike some other blockchains, this maximum supply is not fixed. Instead, it increases at an inflation rate of 10% per year.

At the very beginning, Kusama was a giveaway for all those who were actively involved in the sales of Polkadot (DOT). They were distributed at a 1:1 rate, while those without a DOT could get KSM via a friction faucet that has since been decommissioned. Unlike Polkadot, Kusama has not been redenominated to increase its circulating supply.

Kusama is built using a nominated Proof-of-Stake (NPoS) consensus mechanism. At the same time, a network of nominators, or KSM stakers, is launched. They choose among the nodes the one that will allow them to participate in the process of checking translations. In addition, Kusama uses a simple queuing mechanism based on Merkle trees to allow transactions between chains.

Kusama (KSM) has already gained recognition and is listed on over a dozen different popular cryptocurrency exchanges. This includes Binance, OKEx, and Huobi Global. Currently the most liquid trading pairs for KSM are KSM/USDT, KSM/BTC and KSM/ETH.

Kusama is a scalable custom blockchain network built using Substrate and almost the same codebase as Polkadot. It is an experimental development environment for teams that want to rapidly develop and innovate on Kusama or prepare for deployment on Polkadot.

At the same time, Kusama is both managed and owned only by the community. It is the members of the network that can vote or control the evolution of the network.

Kusama's current price for today is $176.40 with a 24-hour trading volume of $64,628,354. We update our KSM price in USD in real time. Kusama is down 39% in the last 24 hours. The current ranking by CoinMarketCap is 60th and the real market capitalization is $1,494,140,036. It has 8,470,098 KSM coins in circulation and max. delivery is not available.

Timeline

Patents

Further reading

Title
Author
Link
Type
Date

Centauri -- facilitating communication between interoperable networks

Picasso

Web

January 22, 2022

Kusama Treasury Funds Seven Teams in Seven Weeks

Polkadot

Web

June 19, 2020

Kusama, Polkadot's Canary Network

Web

Documentaries, videos and podcasts

Title
Date
Link

Gavin Wood - What is Kusama (KSM)

June 7, 2021

KSM: Kusama Crypto (Polkadot vs Kusama)

April 14, 2021

Kusama (KSM): Parachain Auctions are a GOLDMINE!! 🥇

May 29, 2021

Kusama KSM Token | Sentiment Analysis

August 18, 2021

Kusama: It's time we build our answers

April 21, 2021

News

Title
Author
Date
Publisher
Description
Omar Faridi
June 15, 2021
Crowdfund Insider
Digital asset firm Kraken announces parachain slot auctions for Kusama, a scalable network of specialized blockchains.
Saniya More
June 8, 2021
The Block
Polkadot creator Gavin Wood said the blockchain protocol Polkadot is set to begin its proposed auction schedule.
FinSMEs
June 2, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

References

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