Kusama (KSM) is currently trading at $ 44.78, with a decreased of -3.64% over the last 24 hours. It holds the #168 position in the market, boasting a market capitalization of $ 402.1M. Trading volumes in the last 24 hours have reached 18.7M.
Kusama (KSM) is often referred to as Polkadot's "canary network." It serves as an experimental blockchain platform that operates the same codebase as its cousin, Polkadot, but with a twist. Kusama is designed to be a sandbox for developers to test new features, ideas, and projects in a real economic environment before deploying them on the Polkadot network. This approach allows for rapid progress and innovation, securing Kusama a spot as a significant player since its launch in 2019.
Kusama was launched by the same teams behind Polkadot, with Dr. Gavin Wood, one of the co-founders of Ethereum and the President of the Web3 Foundation, playing a pivotal role in its inception. The togs origins can be traced back to the intricate innovation roadmaps aimed to enhance and complement the Polkadot ecosystem, providing a testing ground for its codebase and governance.
Kusama operates on a multi-chain, heterogeneously-sharded design which allows multiple transactions to be processed in parallel, making it inherently scalable. The network also employs the Nominated Proof-of-Stake (NPoS) consensus mechanism, where validators are elected by token holders to ensure network security. Kusama's distinct governance model empowers the community by allowing them to govern the network and decide on upgrades and funding for projects.
Kusama's uniqueness lies in its role as an early-stage development environment, embracing innovation and experimentation with real monetary stakes. With faster governance parameters and lower barriers to entry for network participation, it's more flexible and accessible for new projects. This allows for a more agile and rapid deployment cycle, making it particularly attractive to developers and teams looking to push the boundaries of blockchain technology.
The Kusama network is secured through its Nominated Proof-of-Stake (NPoS) consensus, with validators and nominators working together to ensure the integrity of the network. Stakeholders can nominate validators they trust, and validators work to validate transactions and create new blocks. This collaborative system distributes the responsibility of network security across a range of participants.
As a canary network for Polkadot, Kusama is essential for stress-testing new features and updates that will eventually be part of Polkadot's core offering. Kusama's existence not only solidifies the robustness of new code but also introduces it under real economic conditions, providing invaluable insights and data to developers.
Kusama has a circulating supply of 9.0M KSM tokens out of a potential total supply. The active emission model, network incentives, and other factors can influence the circulating supply over time.
Kusama (KSM) is available for purchase on several prominent cryptocurrency exchanges, with some of the primary platforms including Coinone, BigONE, BitMart, Huobi, Bitkub. As always, it's important to use reputable platforms and ensure the security of your investments through proper storage and safeguarding of your private keys.
Keeping your Kusama tokens safe is paramount to ensuring the security of your investment. Utilize reputable hardware or software wallets that offer robust security features. Always keep your private keys private and ensure that you have secure backups. Be cautious of phishing scams and only interact with legitimate interfaces and platforms when managing your KSM tokens.
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