What is Kusama?
Kusama is an experimental platform for blockchain. It gives developers a scalable and interoperable framework. Built on a building kit made by Parity Technologies, KSM has a codebase that closely resembles Polkadot. When using KSM, companies are able to access a sharded network that has features unavailable on Polkadot. For this reason, Kusama calls itself a canary network.
More About Kusama
The team that made Polkadot created Kusama. The company was founded by Dr. Gavin Wood, who is one of the co-founders of Ethereum. Created to be a testbed for developers who want to deploy their own blockchain, Kusama is a way to prepare for launching on Polkadot. That said, many projects remain on Kusama through the final stages.
With low bond requirements, Kusama makes it easy to enter the market. Start-ups in the early stages often appreciate what the platform has to offer. If you want fast-paced development and have plans for a bold project, KSM could be right for you.
When it comes to governance, KSM has similarities to Polkadot. The platform has a decentralized and permissionless governance. Anyone who has KSM or parachain tokens can vote on proposals. These proposals could involve protocol changes, features, and governance proposals. Because it has a voting and enactment period of only 15 days, KSM projects are much faster than Polkadot projects.
There are over 10 million KSM tokens, and over 8 million were in circulation in November 2020. The maximum supply increases by 10% each year to account for inflation. At first, KSM tokens were given to those who bought Polkadot tokens. Some individuals also received KSM through a frictional faucet, but that is no longer available. Currently, KSM is available on several widely-used platforms, including OKEx. As of December 10, the price of Kusama was $45.91 USD.
What are Kusama Frequenty Asked Questions?
Where does Kusama (KSM) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Kusama currently ranks in position 47 out of the thousands of cryptocurrencies. It is also important to consider Kusama‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Kusama has a market cap of $ 894,928,325, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 639,708,904,391, Litecoin at $ 9,592,221,833, Ethereum at $ 148,494,354,628, Tether at $ 24,533,299,136, and XRP at $ 13,141,523,643.
What is the price of Kusama (KSM) today (updated in realtime)?
The current price of Kusama is $ 99.66 in USD. (The price in Euros is 82,17 €; and the price in Bitcoin is Ƀ 0.00288400 BTC.)
How has Kusama (KSM) performed recently?
Kusama‘s price has decreased in the last 24 hours by -3.41%. This compares with a seven day change of 58.96%. The trading volume over the last 24 hours was $ 179,230,969. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Kusama (KSM) official website?
Links to Kusama‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Kusama (KSM) performed well historically?
Here is a chart showing how Kusama has performed historically.
Where Can I Buy Kusama (KSM)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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