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Kusama (KSM)

Maxbit Support
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What is Kusama (KSM)?

Kusama (KSM).png

  1. Native Blockchain:
    • Kusama operates on its own native blockchain. Often referred to as Polkadot's "wild cousin," Kusama serves as a canary network, meaning it is an early, unaudited release of the Polkadot code where developers can test new features before they're released on Polkadot.
  2. Consensus Protocol:
    • Kusama utilizes a hybrid consensus system that combines Nominated Proof-of-Stake (NPoS) for validator selection and GRANDPA (GHOST-based Recursive ANcestor Deriving Prefix Agreement) for block finality.
  3. Trilemma (Security, Speed, Scalability):
    • Security: Kusama benefits from the shared security model inherent to Polkadot-like frameworks, pooling the security of all parachains (independent chains).
    • Speed: Kusama's block time is relatively short, facilitating faster transaction speeds.
    • Scalability: By supporting multiple parachains, Kusama is designed for scalability, with the ability to process multiple transactions on different chains in parallel.
  4. Founder / Date Founded:
    • Kusama, similar to Polkadot, was founded by Dr. Gavin Wood, co-founder and former CTO of Ethereum. Kusama was launched in 2019.
  5. Objective / Use Case:
    • Kusama aims to provide a scalable and interoperable network where developers can experiment and launch innovative projects. It acts as a proving ground for Polkadot, allowing teams to test their ideas in a real-world environment.
  6. Total supply / Limit or Unlimited:
    • The initial supply of KSM was 10 million. Kusama has an inflationary model to reward network participation, and the inflation rate is adaptive based on staking activity.
  7. Supply Deflation:
    • While KSM is not inherently deflationary, transaction fees and some other processes can lead to the burning of KSM tokens, potentially influencing its supply dynamics.

          This overview should grant newcomers a foundational understanding of Kusama and its KSM token. Given the rapidly evolving nature of the crypto world, it's essential to keep abreast of the most recent developments and changes in the sector.

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