Kusama (KSM) - the cryptocurrency that was supposed to be an experiment is a hit

Kusama (KSM) it was established practically only to be a testing ground for the ecosystem Polkadot. It is on this network and cryptocurrency that changes and innovations are tested, which are later implemented in the main one blockchainie. It turns out, however, that thanks to this, it is developing extremely quickly and is gaining recognition among investors. 

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for the Kusama cryptocurrency, which was to be used for bold experiments, but it is already known that it is an extremely successful experiment.

What is Kusama

Kusama is a network of specialized blockchains built on the basis of Substrate, which is the same code as Polkadot. It was created before her, because it was in this environment that the DOT code was created when testing the project. So it is, in a way, a testing ground and a test network - with the difference that it is operating and available on the market, still existing in the blockchain environment.

In 2019, it was invented by Gavin Wood, co-founder of Polkadot, and previously also co-creator of the network Ethereum. 

The Kusama network is available to everyone all the time - tests on it can be conducted by the broadly understood blockchain community. Anyone can propose a solution there, on which the next one is voted on and decides on the direction of development. This helps Polkadot programmers to implement the expected and in fact ready-made improvements that can be implemented without any risk to the Polkadot network.

Investment risk

The advantage of Kusama is primarily the availability of a network on which you can test any products using tools and applications that do not yet work in the Polkadot environment. In short: Kusama is a network of the future, because it offers what is yet to come on Polkadot (or it will not be there, if the community decides that it does not work or is not needed). 

It is for this reason that it is considered the so-called Canary network - this is a reference to the custom of old miners who once took canaries to the mine. Birds warned them in advance about gases that were imperceptible to humans, but deadly - such as carbon monoxide, which is odorless but causes quick death by poisoning. Such blockchain canary there is also Kusama, who warns of holes in the code that, if changed, could have catastrophic consequences for Polkadot. All irregularities are therefore repaired before the transfer and only the finished and failure-free product goes to Polkadot.

The risk is undoubtedly the fact that the network is highly experimental - changes are introduced on it immediately after being voted on, and they are only tested "on a living organism". Only after errors are detected by testers operating in this environment, they are repaired and further tests are carried out. Obviously, this can jeopardize the stability of the network, which the developers have repeatedly reminded of, but nothing has ever happened that could make it stop working. 

Moreover, in June it was announced that Polkadot is on the home straight to launch mainnet. Thanks to this, Kusama will gain parachaine, that is, parallel blockchains that increase network scalability. The number of experiments will probably decrease then, but all innovations will undoubtedly continue to appear there earlier than on Polkadot. 

Cryptocurrency Quote Kusama (KSM)

As of August 25, 2021, the Kusama cryptocurrency is available on 31 cryptocurrency exchanges from around the world. There are 8 of the target 470 tokens in circulation, valued at $ 098 apiece. This translates to capitalization of nearly USD 2,5 billion. The peak of quotations took place on May 18, 2021, when each KSM was paid 621,75 USD.