2023-03-04 09:30:03
#Kusama is LIVE on CoinSwitch!!
Here's a thread which covers everything you need to know about #KSM
Kusama is an experimental blockchain platform that is often referred to as "Polkadot's wild cousin". It is built on Substrate, a blockchain building kit developed by Parity Technologies, and has a similar codebase to Polkadot.
Kusama is designed to provide a testbed for developers looking to innovate and deploy their own blockchain, with a low barrier to entry for deploying parachains and low bond requirements for validators.
The platform is described as a "canary network" as it provides access to a highly scalable, interoperable sharded network with features that are not yet available on Polkadot.
Kusama is predominantly built for developers who want to launch bold, ambitious projects with a fast-evolving pace of development. It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake (NPoS) consensus system.
Enabling it to perform rapid on-chain upgrades without a fork and support cross-chain message passing (XCMP) to enable communication with other parachains on the Kusama network.
Kusama also features on-chain governance capabilities that are both decentralized and permission-less.
Kusama has a circulating supply of 8.47 million tokens and a total supply of 10 million tokens, with an inflation rate of 10% per year.
Kusama is secured using a nominated proof-of-stake (NPoS) consensus mechanism and a simple queuing mechanism based on Merkle trees to resolve cross-chain transactions.
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