In this article, I explain When the Kusama Network Launched came about.
The blockchain platform Kusama was designed as an experimental environment for developers to test new features before their launch on Polkadot.
Its inception was a significant advancement in the blockchain space since it opened up room for fast-paced development and testing.
What is Kusama?
Kusama is a blockchain and cryptocurrency that acts as an experimental network.
Launched in 2019 as a product based on Polkadot technology, the network was created to enable new innovative developments before being applied to the Polkadot.
Fast transactions, increased security, and scalability characterize the Kusama network.
Such features make it suited as a foundation for decentralized applications (dApps), decentralized finance (DeFi) applications, among other innovations blockchain based.
KSM, the cryptocurrency owned by Kusama, is the native token of the network used for transactions and network security.
When Was the Kusama Network Launched
On July 20, 2019, Kusama’s multi-chain scalable network built to foster experimentation went live.
Its creators, Polkadot, have established this network to serve as a sandbox for new features that will be eventually added to Polkadot’s primary blockchain.
How does Kusama work?
The Kusama operates on Polkadot technology and is based on a form of a hybrid blockchain that makes use of a combination of Nominated Proof of Stake (NPoS), Proof of Stake (PoS) and Proof of Authority (PoA).
This method aims to provide security and decentralization of the network while enabling a high throughput.
The KSM token is significant in the governance of Kusama.
Accordingly, Things such as referenda and proposals have a voting system that allows holders of the network tokens to take part in decision-making processes and, hence, influence the policies and the network upgrades.
The KSM tokens also fulfil operational purposes such as staking whereby KSM token holders can propose validators that will help in validating various transactions and protecting its network, thereby earning rewards.
The Kusama Token
The Kusama network’s KSM token is the main currency with multiple essential functions.
Owners can stake KSM to become nominators who select validator nodes responsible for confirming transactions and creating new block caches, earning KSM as a reward.
KSM is used to secure a network transaction as well as provide a means of participating in important issues regarding the operation of the network, such as its developments or changes in its policies.
Moreover, KSM is available for purchase on numerous exchanges worldwide as a value and a speculative instrument whose price is determined by supply and demand.
What Makes Kusama (KSM) Distinctive?
Kusama has a unique role for Polkadot and is referred to quite frequently as the ‘canary network’.
In contrast to blockchain ecosystems, which are no more than testnets whilst developing their dApps and other projects, Kusama allows for delivering a real working market and testing conditions other chains may be unable to provide.
It can also use up to 4 times modified governance parameters to operate faster than Polkadot.
Another prominent characteristic of Kusama, with slightly different operating features than its home network, is the integration of 2 blockchains: a ‘Main Net’ and user-generated ones (Parachains).
Parachains, integrated with Kusama, enable users to operate stand-alone Layer-1s in practice. The fact that these Layer-1s can operate as Parachains connected to the Relay Chain not only provides the necessary protection for Kusama_Parachains but also dramatically enhances the scalability and interoperability of the Kusama network.
The Technology Behind Kusama
Kusama was created using a technology based on Polkadot. What are the main technical features of KSM?
Parachains
Parachains are independent blockchain networks which run parallel to each other in the same ecosystem.
Each parachain can have a different consensus, token economy, and functionalities.
Parachains help developers create and launch new applications on the Kusama network without establishing a new network from scratch.
Consensus Algorithm
Kusama employs a Nominated Proof of Stake (NPoS) system, which is implemented partly with Proof of Stake (PoS) and Proof of Authority (PoA) systems.
Nominators select validators whose task is to validate transactions and create new blocks. Its purpose is to achieve both security and decentralization of the network and performance at a high level.
Bridges
These bridges have enabled different chains to interconnect, including trades of asset quantities and information across other chains.
Governance
The governance model consists of the voting system for KSM owners, as well as compensatory rewards in the form of referendums and proposals to empower the community to make pressing decisions.
Security
The network implements various security levels, such as a consensus layer which supports scalability, a security system that identifies and provides for the management of unreasonable behaviour, and governance that is very important for the network.
The Kusama ecosystem
The Kusama ecosystem integrates the Kusama network, Devs, users, parachains, communities, and many tools.
It is a place where fresh developments are tested, giving developers plenty of scope.
For two classes of users, clients or network participants, value can be transferred, value can be controlled, and various intelligent contracts can be deployed, as well as governance of the network undertaken.
Parachains encompass functionalities and applications, while active participation by user and developer communities enhances the ecosystem.
Supporting these communities are various tools, making Kusama a constantly evolving, safe, and well-managed platform for creativity.
Pros & Cons Of Kusama
In this article, I will present the advantages and disadvantages that the Kusama network generates.
Pros
Experimentation platform: Kusama allows developers to try new features and make improvements before going live on Polkadot, encouraging innovation.
Scalability and Interoperability: It has numerous blockchains supporting seamless interaction, which makes it wholly scalable and interoperable with other networks.
Governance and Voting: The network makes decisions by KSM token holders. This enables a decentralised governance model.
Cons
Risk of instability: Because it is an unregulated and experimental network, Kusama is more vulnerable to bugs and issues than Polkadot, which is a concern when dealing with its reliability.
Complexity: The architecture of the network may be complex and remains underdeveloped for new users or developers, and it is pretty technical.
Volatility: The KSM price can have very different levels at any particular moment, hence classifying it as a volatile investment; however, it is not very appealing to investors.
Conclusion
Kusama was developed as an experimental blockchain network to enable rapid development and deployment of new projects.
It allows developers to introduce and test cutting-edge features in a real-world setting before fully launching them on the Polkadot network.
With its robust support system, self-governing structure and dynamic nature, the Kusama network remains vital to the growing blockchain network.
