What is Kusama (KSM)? The Kusama network is an unrefined proof-of-stake (PoS) prototype based on the same code as Polkadot. The Kusama blockchain is Polkadot’s canary network, a development and testing environment where users may create and test parachains and other features before they are deployed on Polkadot. Kusama is an entirely decentralized network with no centralized governance, making it a trustless environment. Kusama’s native token, KSM, is used to stake and provide security.
How does Kusama (KSM) work?
Kusama was launched in 2019 by the Web3 Foundation, a nonprofit organization promoting decentralized technologies and platforms. But who is behind Kusama? The Kusama founders include some of the same individuals who worked on Polkadot, including Gavin Wood, co-founder of Ethereum and creator of Polkadot. The Kusama network was originally a proof-of-authority network and switched to proof-of-stake on Oct. 28, 2019.
Kusama is a public PoS network that includes parachains, or parallel chains, that can scale horizontally and provide the same advantages as Polkadot’s relay chains. A parachain, often known as a parallelizable chain, is a single layer-1 blockchain that works in the Polkadot and Kusama multichain networks. Parachains are connected to the security provided by the Relay Chain — Kusama’s main chain — which manages the entire system.
What makes Kusama unique is that the network supports the creation of two distinct types of blockchains. The Relay Chain is the main Kusama blockchain, where transactions are completed. The Relay Chain separates the process of adding new transactions from the act of validating them in order to improve transaction speed. Parachains are custom blockchains that utilize the Relay Chain’s computing power to verify transaction validity.
How is the Kusama network secured? Kusama is secured by a network of stakers who validate transactions and create new blocks in return for rewards. To become a staker, users must have KSM tokens. The more KSM a user holds, the greater their chances of being selected to validate a block. Kusama’s governance model allows anyone to participate in decision-making by staking KSM tokens. The governing system of Kusama is decentralized and permissionless.
Kusama price today
KSM is the crypto asset of the Kusama network. The asset is used for staking in order to become a validator, paying transaction fees and participating in governance. The top of the Kusama price index page includes a Kusama to USD live price, the Kusama market cap and more. A KSM live price chart showing KSM price history is also available above. The Kusama circulation supply is 8.47 million KSM, and the Kusama total supply stands at 9.65 million KSM tokens.