PRICE

$ 428.44

1H % ROI

-0.73%

24H % ROI

3.75%

7D % ROI

25.41%

Rank
51

BTC

Ƀ 0.00895344

24H Volume

$ 226,745,422

Available supply

8 980 098 KSM

Total supply

10 000 000 KSM

Market Cap
$ 3,842,557,526

PRICE

$ 428.44

BTC

Ƀ 0.00895344

1H % ROI

-0.73%

24H % ROI

3.75%

7D % ROI

25.41%

24H Volume

191 841 365

Available supply

8 980 098 KSM

Total supply

10 000 000 KSM

Rank

51

Market Cap

3 251 053 433

Kusama: A brief summary

Kusama (KSM) is Polkadot’s ‘wilder cousin’. It is an experimental blockchain platform designed to provide developers with a scalable and interoperable framework. Kusama is built on Substrate. It was created by the same team that founded Polkadot, the Parity Technologies company founded by Dr. Gavin Wood. Kusama is funded by the foundation Web3.

Kusama: Live Price Chart

What is Kusama (KSM)?

Kusama is a blockchain platform that draws heavily on Polkadot. In fact, the developers are the same as those who worked on Polkadot, and they do are not afraid to call Kusama its distant cousin.

Kusama’s goal is to provide a turnkey blockchain solution for projects that don’t have the resources to develop their own infrastructure. However, we should look at Kusama’s solution as something temporary that can later be transferred over to Polkadot once all the reliability tests have been passed, even though some projects decided not to migrate and to stay on this blockchain.

Because Kusama is used more as a testnet, there are fewer restrictions on validators or for deploying new parachains. Companies that use this blockchain solution are usually start-ups that are in the early stages of their development, or companies that want to experiment with new things before deploying them on Polkadot permanently.

What is Kusama for?

Kusama is a blockchain solution that is aimed primarily at companies that want to embark on the blockchain adventure from scratch. Thanks to Kusama’s intuitive tools, it’s easy for a new company to design a fairly basic blockchain solution that allows them to discover this technology intuitively.

Kusama’s technical operation is very similar to Polkadot’s, as the source code is virtually identical (at least in its early days). This is easily explained by the fact that it is the same company that is in charge of these two projects.

The consensus used by Kusama is the nominated proof-of-stake (NPoS), which allows a much lower use of energy than those needed to operate a proof-of-work (PoW) system. To work, this system uses validators, selected by nominators, who are responsible for validating transactions.

Once these validations are complete, collectors on the main chain arrange the blocks. In order to secure everything, other individuals have the role of verifying that the validators are doing their job properly. To learn more, we invite you to consult our guides on Polkadot (insert link) which will explain this in much more detail.

The KSM token has several uses. The first is governance: to have a say in the future evolution of the project. Each KSM token holder can vote in proportion to the number of tokens they have.

The second use of the token is to be able to participate in the validation of transactions on the network. Thanks to a staking system, good actors receive additional rewards when they correctly validate transactions, but can face penalties for bad action and lose KSM. 

The third utility of the KSM tokens allows for the launch of an additional parachain that improves the overall efficiency of the system.

How to buy KSM?

To get KSM tokens, you have to go to an exchange platform. However, you have to be careful not to go to any old exchange site, because the scams in the world of cryptocurrencies are still unfortunately far too numerous.

In order to buy KSM tokens safely, we recommend using only reliable exchanges. As it is not always easy to detect a serious site from a dishonest platform, we have created a small ranking of the best exchange sites. By using one of the exchanges we recommend, you eliminate the risk of getting ripped off.

As Kusama is still a relatively new project, it is not yet possible to buy KSM with fiat money (pounds, dollars, etc.) immediately. You will first have to go through an intermediate step by getting a more popular cryptocurrency that can then be exchanged for KSM. We personally advise you to get ETH or BTC for this, as they are the two cryptocurrencies that have the widest range of different trading pairs on exchanges and therefore those that are most likely to be able to allow you to obtain KSM.

What is our opinion on Kusama (KSM)?

Although Kusama is almost a copy of Polkadot, since its source code is taken directly from it and the development team is the same, it can be noted that these two blockchains are not really aimed at the same users.

Kusama is intended for new projects that want to obtain a blockchain solution at a lower cost, or for projects that want to carry out some tests before migrating to the Polkadot blockchain. We find this quite interesting, because even companies with a more limited budget can try a foray into the world of the blockchain without it being too expensive for them.

Of course, it should always be kept in mind that Kusama will probably forever remain in the shadow of its big sister Polkadot, since it is just a first step before arriving on this main network. Therefore, do not bet on the market cap of the KSM one day exceeding that of the DOT.

To learn more about this ‘beginner’ blockchain, why not consult our guide on Kusama (insert link), which will offer you much more complete information on the subject.

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