Kusama (KSM)

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What is Kusama (KSM)?

Kusama is a crypto project based on the Polkadot blockchain. Polkadot itself is a blockchain that connects other blockchains together—-it enables users to gain access to Bitcoin and Ethereum by inter-connecting them with several other participating blockchains.

Meanwhile, Kusama is known popularly as Polkadot’s ‘Canary Network’. The name comes from the practice of releasing canaries into freshly dug mines to detect any dangerous gas leaks inside. Canaries would keep singing inside the mine until they were exposed to lethal gases, following which they would die, and the singing would cease.

In the same context, Kusama provides a realistic testing environment for blockchain projects.

What makes Kusama unique?

Kusama is an experimental yet efficient blockchain network that acts as an ecosystem within Polkadot. It resembles DOT in architecture and structure and acts as a testnet for unlaunched features, and conduction of new parachains, and allows them to take bigger risks with their development without impacting DOT’s user base.

Primary features of KSM coin

Here are some primary features of the KSM coin:

• At the time of writing, Kusama has a market cap of $315 million and a market rank of #120.
• KSM can be staked, which allows users to prop

Who are the founders of KSM?

Kusama was built by Polkadot’s team, a company called Parity Technologies. Parity is headed by Dr. Gavin Wood, a world-renowned computer scientist and a co-founder of Ethereum. Kusama is also funded by the Web 3.0 Foundation, which is known for helping nurture new-age web software protocols.

Pros and Cons

Here are some pros and cons of investing in Kusama (KSM):

Pros of Kusama (KSM)

• Kusama is, in essence, the experimental wing of Polkadot. Hence, it is built to scale and accommodate an unlimited number of projects without slowing the main network down.
• Kusama eliminates the need for a hard fork as Kusama is fortified against such possibilities.
• Kusama is governed by the network instead of specific participants, which preserves its decentralization.

Cons of Kusama (KSM)

• Unlike Polkadot, KSM faces fierce competition from other projects in finding its place right up there with the biggest names in PoS.
• One of Kusama’s biggest drawbacks is also one of its most useful features—its experimental nature. Because it is only a guinea pig of sorts, KSM tokens can also be price volatile by nature.

Trade Kusama (KSM) on CoinSwitch

Now you can use the CoinSwitch app to trade KSM coins with hundreds of other cryptos. Visit our website to download the app and start trading today!

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