Kusama (KSM) price, marketcap, chart, and fundamentals info Knowledge of KSM virtual currency

 351 total views


2021-03-24 08:20:30

Kusama is not a new project though. Launched in May 2019, it is a parallel Polkadot network. It is built using the same code base and same structure, but works much faster than Polkadot.

Some might think of it as a testnet, but it is much more than that. This is the development environment that can be used just like Polkadot, but much faster. Allow teams to try out new technologies, innovate on existing projects, and prepare them for full Polkadot rollout.

Come on, let’s find out details about it!

Kusama (KSM) price, marketcap, chart, and fundamentals info

Kusama is Polkadot’s canary network, which is an experimental community research and development protocol. Its main purpose is to help developers test and implement parachains on Polkadot or test the features of governance and staking.

The ingredients involved in the Kusama network

Builder

Builders or builders are the ones creating parachains, bridges, parathreads and other features out there. Essentially these are development teams and individual developers. There are several reasons why development teams might consider using Kusama for their development efforts:

  • Kusama uses the Polkadot codebase, the developers will have an almost the same experience as building on Polkadot.
  • Kusama grows much faster than it grows on Polkadot.
  • Once these projects are built from Kusama you can easily move them to Polkadot if you wish.
  • Deploying on Kusama is likely to be much less expensive than deploying on Polkadot.

Network Maintainer

Also known as a network maintainer.

Kusama uses the same group of agents to maintain his network. These actors include nominators, collators, validators and governance actors. It’s a diverse set of things that work together to ensure the security, stability, and growth of the network.

The way that agent works is as follows:

  • Nominator: They have the role of choosing validators that will act properly and have credibility. They receive a reward block by the validators they voted for.

validator nominator on kusama

  • Collator: Responsible for creating blocks on parachains containing updated transactions. Then pass it to the validator.
  • Validator: Maintain the network by adding new blocks and reaching consensus with other validators.
  • Governance actor: Kusama orientation into the future, defining how the platform will evolve by voting for or against changes to protocol and code base.

What is KSM Token?

KSM is the native token of Kusama. This is the token that powers most of the mechanisms in the Kusama network.

Investors who purchased DOT during Polkadot’s ICO are eligible to receive an equivalent amount of KSM on the Kusama Network.

Basic information about KSM copper

Ticker KSM
Blockchain Kusama
Token Standard Native token
Total Supply 10,000,000 KSM
Circulation supply 8,980,089 KSM

Distribution of KSM copper

100% of these tokens (100,000,000 KSM) will be distributed to the DOT token holder and validator in the Kusama network.

What are KSM tokens used for?

  • Governance: A place where participants can manage protocol updates and fixes.
  • Staking: Where tokens are staked to ensure the network remains secure. Because good validators are rewarded and bad actors lose their stakes.
  • Bonding: Where new parachains are supported by bonding tokens
  • Fee: To transfer the message over the parachain.

How to earn KSM tokens?

  • Holder DOT token: Provides KSM tokens to anyone who previously purchased DOT during the ICO. People with DOT can follow suit tutorial to require equivalent KSM. There is no deadline to request KSM.
  • Bug bounty program: Reward anyone who discovers a bug in the Kusama code
  • Validator: Staking reward when running a validator node.
  • Treasury proposal: If you have a project that will increase the value of the network, you can submit a treasury proposal.
  • Nominator: Nominator in Kusama takes a passive investment role by delegating their KSM to up to 16 validators. They get a reward for this.
  • Buy KSM: The simplest way is to buy KSM on a listed exchange

Which floor is KSM traded on?

KSM is currently popularly traded on Binance and Huobi, you can register for an account and buy KSM offline:

In which wallet to store KSM?

You can store them on an exchange where you bought KSM. Or store it in your wallet Polkawallet Please.

Kusama’s future and KSM tokens

Kusama is a network of “cousins” with Polkadot. A lot of potential can be seen in Kusama.

  • Kusama is more than Polkadot: Kusama was used as a springboard for development projects prior to launch on Polkadot. But it is possible that many projects choose to simply continue on Kusama. Development is faster and more innovative, and the cost of a parachain is expected to be much smaller in Kusama.
  • Capital: Motivation is already strong at Polkadot and Kusama. Many large cap cryptocurrencies rely on Substrate, making them compatible with Kusama and anything Polkadot related.
  • The increasing adoption and the development of regions like DeFi that are perfectly suited for these projects means this could fly strongly in the future.

Should we invest in KSM copper?

Potential assessment

The growth of the DeFi space depends on the participation of both the developers and the communities behind them. Projects that empower developers to test new features before they are actually deployed on primary channels are crucial.

A project like Kusama allows developers and their communities to work around the Polkadot platform while ensuring that each feature they intend to implement is not only tested but also physically tested.

Roadmap

Updating…

Partner

The main partners come from giants such as: Chainlink, Polkadot, …

kusama partner

Kusama team

Gavin Wood, a Ph.D., founded Kusama with the goal of supporting the Polkado network by building a parallel blockchain that allows testing and development under very realistic conditions. With that in mind, Wood thought that having a “canary network” that functions as an early warning and problem detection protocol could reveal the weaknesses of the Polkadot codebase.

Wood is also the chairman of the Web3 Foundation, the nonprofit that went on to sell Polkadot’s tokens, raising about $ 200 million from investors in the process.

Should we invest in KSM copper?

If you’ve been following decentralized finance (DeFi) closely then you probably know that Kusama’s (and Polkadot’s) current prices could be much lower than they could be.

Consider the huge market cap seen in 2017 for all coins though there is very little adoption. DeFi is creating a massive adoption of cryptocurrencies.

The reach and platforms are in place to extend DeFi to the general public. Kusama and Polkadot will be at the heart of much of this new development as they make it easy for projects to scale and grow to the scale needed for the truly global DeFi to hold.

From the above data, it is quite expected a new price increase for KSM. However, these are only personal opinions, so you should carefully consider and make your own investment decisions.

Community & Social

#Kusama #KSM #price #marketcap #chart #fundamentals #info #Knowledge #KSM #virtual #currency

Related Posts

Leave a Reply

Your email address will not be published.

Close Bitnami banner
Bitnami