Buy Kusama (KSM), it’s easy!

What is Kusama? Find out how Gavin Wood's Canary network works and follow the KSM price trends

What is Kusama?

Kusama is a scalable network, which supports developments and innovations implemented on Polkadot. The Kusama network is also called ‘Canary’, because of the testing and debugging function it offers developers. Just as miners once carried canaries with them to detect high concentrations of firedamp, Kusama’s testnet is an excellent tool for experimenting with new Polkadot features. It is a perfect test bed for exploring any updates and then implementing them safely on Polkadot. Today, Kusama is much more: thanks to parachains, it allows the launch of truly decentralised applications that cannot yet afford a slot on Polkadot. It has thus become indispensable for the technological development of the Polkadot ecosystem, as well as a primary building block for the evolution of Web3.

Why buy Kusama?

Its reference cryptocurrency is the Kusama (KSM), the utility token of the network. Owning the token allows you to stake it and launch parachains, as well as use its dapps and pay transaction fees. Buying Kusama means being able to participate in the on-chain governance of the network and is characterised by its extreme decision-making speed.

How was it created?

Like Polkadot, Kusama was also founded by Gavin Wood. The former Ethereum programmer created Kusama through Party Technologies, a leading cryptocurrency company. Today, his Party Technologies team has over 80 professionals and is present in nine countries. The token was launched in 2017, although it was listed on the market two years later, in 2019. It then achieved great popularity in the summer of 2020, when the price of the Kusama token reached $60. Today, Kusama receives funding from the Web3 Foundation, which supports the project to research and develop new frontiers for the web on blockchain.

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