Why Buy Kusama (KSM)?
Consider buying KSM as it’s the Kusama ecosystem’s reference cryptocurrency and the network’s utility token. Holding KSM allows you to stake and launch parachains (parallel networks tethered to the Polkadot blockchain), utilise its Dapps, and cover transaction fees.
Moreover, buying Kusama allows you to participate in the network’s on-chain governance, known for its rapid decision-making. This involves three distinct types of actors: the referendum Chamber, council members, and the technical committee. Furthermore, choosing to buy Kusama is a vote of confidence in a continuously innovated network. In 2024, Statemint, a significant development milestone for the network, was activated.
What is Kusama and How Did It Start?
Kusama is a scalable network supporting developments and innovations on Polkadot. Known as “Canary” for its role in testing and debugging for developers, it serves a similar purpose to the canaries miners once used to detect dangerous gas levels. The Kusama testnet is an excellent tool for experimenting with new Polkadot features, serving as a perfect proving ground for any updates before their secure implementation on the main blockchain.
Today, Kusama is much more, allowing the launch of full-fledged decentralised applications that still need to afford a spot on Polkadot. It has become essential for the technological development of its ecosystem and a key component in the evolution of Web3.
Like Polkadot, Kusama was founded by Gavin Wood, a former Ethereum programmer, through Parity Technologies, a leading company in the cryptocurrency sector. Now, its team includes over 80 professionals across nine countries. The token was launched in 2017,
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