Kusama KSM Price

It can be said that Kusama functions somewhat like a sandbox for developers who want to test early versions of new Polkadot projects, but with real cryptocurrency that is traded on the open market.

It is cheaper to host a parachain on Kusama compared to Polkadot. Small and low-budget developers are running benchmarks for parachains on Kusama, before they go live on Polkadot. Parachain is a simpler form of blockchain whose security is ensured by a "relay chain." Parachain requires a slot to connect, which can be purchased at auctions.

Polkadot Comparison

Kusama is positioned as a "canary network" for the Polkadot blockchain. This means that the network provides a pre-test of the code that is available before it is launched on Polkadot.

1. The first key difference between the two networks is the management system's processing speed. In Kusama, it takes seven days to vote, and eight days to make changes after the vote. In contrast, each vote in Polkadot usually takes a month.
2. Second, it is much easier to become a validator on Kusama because the minimum staking requirements are lower than on Polkadot. The reason for this is that Kusama is a experimentation blockchain, and it can sacrifice stability and security for the sake of increased network speed. Although Kusama is designed as a platform to develop projects before launching on Polkadot, it may happen that many projects will want to continue developing on it.

Kusama Features

A core role in the Kusama platform structure belongs to the KSM coin. It is in charge of maintaining and enabling full operation of that crypto-platform. By owning these tokens, KUSAMA platform users will be able to access project management by taking part in votes related to crypto-network upgrades, and introduction of new functionality. Each user's vote will be proportional to the KSM tokens they own.

Kusama's decentralized platform provides these users with rewards in the form of new KSM tokens. The number of accrued tokens will directly depend on the number of tokens supplied by users for voting. In addition, rewards in the form of cryptocurrency are provided to users who belong to the category of validators and nominators.

KSM Wallets

KSM coins have their own browser wallet called Polkadot.js Extention. It is can be created right on the site polkadot.js.org by standard method. You need to register your account, give him a name, password and remember the proposed Sid-phrase of 12 words.

To refill your wallet, you need to find an exchange that trades KSM coins. After purchase, they can be easily transferred by entering the address of the created wallet. Received tokens can be freely used within the Kusama and Polkadot ecosystems.

Kusama Advantages and Disadvantages

Summary

Kusama (KSM) is a reliable project built on the same platform as Polkadot. It is used as a test project, but represents a full-fledged and reliable network. It has prospects for growth and can be used with the intention of generating profits in the future. Thanks to the parachain architecture, users can create their own networks and offers. KSM cryptocurrency has huge benefits in the Kusama network and is also good for an investments.