What is Kusama (KSM)?

 What is Kusama (KSM)?

Kusama (KSM)

What is Kusama (KSM)?

Kusama describes herself as a "Fanatic cousin of Polkadot" is a platform for blogs such trials are designed to provide a framework for working together is extremely scalable for developers.

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

By deploying on Kusama, fast-moving projects have access to a highly scalable network of collaborative shards. with features that are not yet available on Polkadot  . "Canary Network"

The platform is designed to be a testing ground for developers who want to innovate and deploy their own blockchain. And it can be used as a pre-launch network on Polkadot, although many projects choose Kusama for their final product.

Kusama benefits from low barriers to deploying parachains, low bond requirements for validators. and is often used by beginners in the early stages and for experimentation.

Who was the founder 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 a co-founder of Ethereum

Parity Technologies has an extensive team comprised of some of the most successful blockchain engineers in the world. and has more than 100 employees spread all over the world.

Kusama also received a grant from the Web3 Foundation, which was launched to help "Nurture and maintain technology and applications in the field of decentralized web software protocols."  The Web3 Foundation also supports Kusama through community research and development with a growing team.

What makes Kusama unique?

Kusama is unusual among blockchain platforms. As it is made especially for developers who want to launch bold and ambitious projects. with rapid development

It is built on a multichain, heterogeneous design that uses a consensus system. Nominated proof-of-stake (NPoS) —  an alternative consensus mechanism for projects. high-power proof-of-work  (POW) that Used by many other blockchains

This system allows for quick on-chain upgrades without a fork. and supports cross-chain messaging (XCMP) to enable communication with other parachains on the Kusama network.

Like Polkadot, Kusama has on-chain governance capabilities. This on-chain  governance is decentralized and unauthorized. This allows anyone with a Kusama token (KSM) or Parachain token to vote on their governance proposal. This could include hypothetical upgrades. protocol change and feature requests This on-chain governance process is four times faster than what Polkadot offers. With a combined voting and legislative period of only 15 days, this led to rapid development for the project built on Kusama.

This project serves the project to get started. By enabling updates and enhancements, no fork is needed to do so. Therefore, maximum community cohesion is guaranteed.

How many Kusama coins (KSM) are 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 other blockchains, this peak supply is not fixed. but will increase at an inflation rate of 10% per year.

The proportion of KSM bets will change the way the newly created KSM tokens are distributed. (Of inflation),  if you bet half of all the KSM check the accuracy of Kusama will receive 100% of the newly created token. Whereas if it goes above or below 50%, some inflation returns go to the Kusama Treasury.

Kusama was launched as an airdrop to people who participated in the Polkadot (DOT) token sale.  These are distributed at a 1:1 ratio, while those without DOT can earn KSM using a frictional faucet - this. It has been discontinued.  Unlike Polkadot, Kusama has not been redeemed to increase circulating supply.

How secure is the Kusama network?

Kusama is built using the nominated Proving Stakeholder Consensus (NPoS) mechanism.

This uses a network of nominees (KSM bettors) which select nodes to participate in the transaction validation process. These nominees will receive a fraction of the inflation award if the nominee is selected in the next circulation. Validators who act dishonestly or do not meet performance requirements can be at their stake.

Kusama also uses a simple queuing mechanism based on the Merkle tree to resolve cross-chain transactions. Chain relay validators are responsible for moving transactions from one Parachain's output queue to the target Parachain's input queue. It is a secure and reliable process that uses the same validator in each chain to send message

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