All you need to know about Kusama (KSM)

 

Kusama is a public pre-production environment for Polkadot, an environment that allows any developer to test blockchain or new applications before releasing them online. Polkadot has undoubtedly become one of the most popular projects in the field of digital currencies. However, one of the most innovative aspects of Kusama’s ecosystem is the Polkadot Canary Network. While new blockchain projects may seem highly repetitive and derivative, Kusama is distinctive because it is useful.

What is Kusama ( KSM ) ?

Kusama is a public pre-production environment for Polkadot, an environment that allows any developer to test blockchain or new applications before releasing them online. In this way, Kusama can be said to act as a kind of sandbox for developers looking to test early versions of Polkadot projects, but with real digital currencies traded on the open market.

Official Polkadot upgrades are also being tested in Kusama before being released. Because it’s main purpose is to facilitate testing, Kusama strives to give developers more flexibility in finalizing the design of their Polkadot projects. Kusama, in turn, offers weaker rules than Polkadot, which include stricter governance parameters.

Elsewhere, Kusama (KSM) mimics most of the key features of Polkadot design. Kusama, for example, uses two types of blockchain – a core network called a relay chain, where transactions are permanent and user-generated networks called parachutes. The parachute can be customized for any user and the main relay chain can be used for security. One of the potential benefits of starting a project in Kusama is that it allows Polkadot projects to build a user base and integrate into the community before it is officially launched. Users looking to stay up to date on the current state of project development can follow the official Kusama Project blog for updated details.

How does Kusama (KSM) work?

The Kusama network allows the creation of two types of blockchains.

Relay Chain: Kusama’s main blockchain, this network is where transactions end. For greater speed, the relay chain separates the addition of new transactions from the validation of those transactions. Parachutes: Parachutes are custom blockchains that use relay chain computing resources to verify transactions.

Relay chains

To maintain its network agreement on the status of the system, the Kusama relay chain uses a change of stock proof consensus (PoS) called stock proof (NPoS). This system allows anyone who shares KSM by locking digital currency in a specific contract to perform one or more of the following roles that are essential to its operation:

Validation – Validation of data in parachute blocks. They also participate in the consensus and vote on proposed changes to the network.

Candidates – Secure the relay chain by selecting reliable verifiers. Candidates deposit their KSM tokens on credentials and therefore cast their vote on them.

Users who share KSM and perform these roles are also eligible for KSM Awards.

Kusama government

Three types of Kusama users can influence software development. This includes:

• Referendum Room – Anyone who buys KSM tokens can suggest changes to the network and approve or reject major changes suggested by others.
• Council – Elected by KSM owners, council members are responsible for proposing changes and determining what changes KSM owners have to the proposed software. The Kusama Council started with seven seats, but is set to grow as public interest grows
• Technical Committee – Composed of teams that actively build Kusama, this group can make special suggestions in an emergency. The members of the council vote for the members of the technical committee.

The difference between Kusama and Polkadot

Kusama is known as the “Canary Network” for the Polkadot blockchain, meaning that it publishes raw code that has not been audited and is available in Polkadot before launch. The first key difference between the two networks is the speed of the governance system. In Kusama, it takes seven days to vote on the referendum and eight days to make changes after the vote, while each takes a month in Polkadot.

Second, validation in Kusama is much simpler, as the minimum betting conditions are lower than in Polkadot. It is important to remember that Kusama is a blockchain to test and ignore stability and security to speed up networking.

What are the salient features of Kusama (KSM)?

Kusama has several obvious features, but it also acts as its ecosystem in the larger Polkadot ecosystem. It is most similar to the architecture and structure of Polkadot. It acts as a pilot network, but does not fully cover the level of testing that projects can do before launching their umbrellas at Polkadot.

Kusama is constantly testing not only the various projects on it, but also the ecosystem itself. Always one-step ahead of Polkadot, it tests new features that the latter wants to eventually use after the maze, and provides the team with a vehicle that allows them to be much more innovative and take great risks without Do Give. Do not risk the Polkadot ecosystem.

Other features of Kusama include:

• Participate by receiving KSM, Kusama’s native code. According to the Polkadot wiki, those who have participated in the sale of Polkadot can claim some KSM through the Kusama Claims process.
• A parachute slot (this is a key feature for testing Kusama). Chains can be selected as “common good” umbrellas, won a parachute auction, or launched as a “parachute”, which is essentially a monetary access auction with one block in each block.
• Set as validation. This is a great way to go through the process and understand the expectations / requirements before moving to Polkadot, as the minimum stock requirement in Kusama is lower. Users, on the other hand, can present themselves as a candidate, a role that requires a bit of risk, but allows for a “set and forget” approach. Candidates allocate their shares to credentials, receive a portion of the reward percentage, or decrease if the credit they have submitted is weak and declining.

Staking also allows users to vote and vote in referendums, which helps the network evolve and improve over time.

Uses of Kusama

Kusama targets a wide range of developers looking for innovative and advanced blockchain projects. The network can accommodate private and public blockchains, smart contracts, and powerful chains that significantly expand the range of potential applications, including markets, oracles, social networks, games, and e-sports. Expands.

Kusama’s attractions for developers include the possibility of rapid change that ensures business flexibility, low barriers to entry, ideal for leaner startups, and a committed community that has access to talent and ideas. Developers who test their applications before deploying in Polkadot also use Kusama because it offers all the new technical tools from Parity Technologies and the Web3 Foundation even before they are implemented in Polkadot.

During 2020, Kusama managed to implement some of the major blockchain projects such as Chainlink. Chainlink is a network of oracles that connects blockchains to real-world data streams. In preparation for launching a parachute at Polkadot, Chainlink has decided to deploy a parachute in Kusama (KSM). This parachute allows any Kusama project to access external data sources outside the blockchain.

An important tool for attracting new projects to Kusama is its treasury. Kusama Treasury includes tokens that are collected through transaction fees and reductions in the Kusama network. These resources can be used to fund proposed projects by community members, which can benefit the network. Among the projects funded by Kusama Treasury in 2020, LocalCoinSwap aims to increase access to the blockchain for non-technical users, and Polkawalt and Suramitsu provide alternative wallets for Kusama and Polkadot holders.

Crypto investors can be interested in Kusama as a way to grow their portfolio with rewards. since Kusama is a stock proof block, KSM holders have the opportunity to win prizes by placing their coins. According to Staking Rewards, KSM’s annual market return as a candidate is 14.03%. This rate depends on the share of coins in the network and will fluctuate in the future.

Who are the founders of Kusama?

The same team that created Polkadot, known as Parity Technologies, created Kusama. Its founder is Dr. Gavin Wood, a world-renowned computer scientist and programmer who was also one of the founders of Ethereum.

Parity Technologies has an extensive team of some of the most successful blockchain engineers in China, with more than 100 employees worldwide.

In addition, Kusama is funded by the Web3 Foundation, which was set up to help “develop and monitor technologies and applications in decentralized web software protocols.” The Web3 Foundation also supports Kusama in community research and development, thanks to its growth team.

How secure is the Kusama network?

Kusama was built using the Stock Proof Consensus Mechanism (NPoS). It uses a network of registrars (KSM stickers) that select nodes to participate in the transaction validation process. These candidates will receive a fraction of the inflation bonus if their candidate is selected in the next round. Credits that act dishonestly or do not meet performance requirements may reduce their stocks.

In addition, Kusama uses a simple Merkel-based queuing mechanism to resolve chain transactions. Relay chain validation is responsible for transferring transactions from the output line of a parachute to the input line of the target parachute – a secure and unreliable process that uses the same validations in each chain to send messages.

How many Kusama (KSM) coins are in circulation?

As of November 2020, Kusama has 8.47 million tokens in circulation and a total supply of 10 million tokens. Unlike some other blockchains, this is not a fixed maximum supply. Instead, it rises at an annual rate of 10 percent.

The ratio of KSMs in stocks changes the way new KSM tokens (from inflation) are distributed. If exactly half of the total KSM is bet, Kusama will receive 100% of the newly multiplied tokens, while if it is higher or less than 50%, some of the inflation bonuses will go to KSM’s treasury.

Kusama was initially launched as an airdrop for those who participated in the sale of Polkadot (DOT) tokens. These were distributed at a rate of 1:1, while those without DOT were able to obtain KSM using a friction valve – the valve has been out of operation ever since. Unlike Polkadot, KSM has not changed its name to increase its supply in circulation.

In the bottom line

Kusama (KSM) lacks a sense of humor and they have a good idea of ​​the purpose of the platform in the larger Polkadot ecosystem. KSM ‘s motto is “Waiting for Chaos” and is a fair reminder that when everything is said and done, it is a test network. The fact that it is one of the most realistic test networks on the market, and therefore almost similar to Polkadot, increases the likelihood of chaos. However, all of this is for a very positive and purposeful purpose: to build the Polkadot ecosystem and every parachute it hosts, the most tried and tested Blockchain projects possible.