Buy Kusama

Kusama is a development environment for Polkadot, designed to allow developers to test new blockchains or applications before they are launched on the Polkadot network. This makes Kusama a kind of “sandbox” for developers who want to try out early versions of Polkadot projects with real cryptocurrency. Official Polkadot updates are also tested on Kusama before being released on Polkadot.

Developers have more flexibility on Kusama, because the rules are less strict than on Polkadot. This allows them to make changes and experiment more quickly. Like Polkadot, Kusama uses two types of blockchains: a main blockchain called the relay chain, where transactions are permanent, and user-generated networks called parachains. Parachains can be customized for any purpose and leverage the security of the relay chain.

The KSM token plays an important role in the maintenance and operation of the Kusama Network. By owning and staking KSM, users are given the opportunity to vote on network upgrades, with each vote being proportional to the amount of KSM they stake. Kusama rewards these users with new KSM based on the amount of tokens they stake, with validators and nominators receiving rewards.

One advantage of launching a project on Kusama is that it allows Polkadot projects to build a user base earlier before officially launching. Projects can maintain parachains on both Kusama and Polkadot, allowing them to use their Kusama parachain to experiment and test new features before upgrading to their Polkadot parachain.

Some notable projects that have parachains on both networks include Gitcoin, a platform that connects developers with open-source projects, and 0x, a decentralized exchange platform.

Who founded Kusama?

Kusama was founded by Polkadot creators Gavin Wood, Peter Czaban, and Robert Habermeier. Gavin Wood is the co-founder of Ethereum and invented the Solidity programming language, which is used to develop decentralized applications (dApps) on Ethereum. Kusama is currently managed by Parity Technologies and the Web3 Foundation.

Kusama offers a wide range of functionalities that can be used for various purposes:

• Experimentation with new blockchains and dApps: Developers can test new features, blockchains, and applications on Kusama before launching them on Polkadot.
• Security and scalability testing: Kusama provides a platform to test the scalability and security of new dApps and DeFi projects in a real-world environment.
• Testing new Polkadot updates: Before Polkadot implements new updates, they can be tested on Kusama first, which ensures the security and efficiency of Polkadot.
• Staking and earning rewards: Users can stake KSM tokens to become nominators and validators, for which they receive rewards in the form of KSM.

Kusama is based on Polkadot technology and uses various technologies and principles to provide an experimental and innovative blockchain network that is secure, scalable and interoperable. Below are some of the key technical components of Kusama.

The relay chain

The relay chain is Kusama’s main blockchain, where transactions are executed. To achieve higher speed, the relay chain separates the adding of new transactions from the validation of those transactions. This means that the relay chain focuses on consensus and security, while parachains have the flexibility to implement their own rules and functionality.

Parachains

Parachains are custom blockchains that use the computational power of the relay chain to confirm transactions. Each parachain can have its own consensus mechanism, token economy, and functionality. This allows developers to build and deploy new applications without having to create a whole new network.

Kusama's consensus mechanism

Kusama uses a hybrid consensus mechanism that combines elements of Proof-of-Stake (PoS) and Nominated-Proof-of-Stake (NPoS). Nominators elect validators, who then validate transactions and produce new blocks. This system ensures network security and decentralization, while also achieving high throughput and efficiency.

Bridges, governance and security

Bridges provide interoperability between different networks, allowing value and data to be exchanged between different blockchain networks. This allows Kusama to integrate with other networks and supports cross-chain applications.

KSM holders have access to Kusama's governance. They can propose referendums where the community can vote on important issues, ensuring transparency and democracy within the network.

Kusama uses multiple layers of security, including a scalable consensus layer and an abnormal activity detection module. Together, these elements provide a safe environment for experimental projects.

KSM is the cryptocurrency of the Kusama Network and performs several important functions. First, users can stake KSM to actively participate in the operation and governance of the network. KSM holders have voting rights on the development of the project, with each vote proportional to the amount of KSM staked. In addition, KSM tokens are used to pay transaction fees on the network and auction parachain slots, giving developers the opportunity to launch and maintain their own parachain.

By staking KSM tokens, participants can earn rewards in the form of new KSM. There is no maximum supply of KSM; instead, new KSM tokens are continuously issued according to a predetermined inflation rate.

Staking KSM is a process where you stake your KSM tokens to help secure the Kusama network while earning rewards. To get started, you’ll need a wallet that supports KSM staking. Once you have KSM in your wallet, you can choose to become a nominator or validator. As a nominator, you select trusted validators to vote and validate transactions on your behalf. You choose a number of validators and distribute your KSM tokens among them.

As a validator, you are responsible for validating transactions and adding new blocks to the relay chain. Validators must meet certain technical requirements and be constantly online to perform their role effectively. By staking your KSM tokens, you can earn rewards in the form of newly issued KSM, depending on the performance of the validators you have chosen or your own performance as a validator.

Although Kusama and Polkadot share many similarities, Kusama is a unique and distinctive project. Some features that make Kusama special:

• Testing environment: Kusama is designed as a testing environment for Polkadot. This allows developers to try out new ideas and features before implementing them on Polkadot.
• Fast governance: Decisions on network changes are made faster on Kusama than on Polkadot, with shorter voting and implementation periods.
• Low barrier to entry for validators: The minimum requirements to become a validator are lower on Kusama, making the platform more accessible to more participants.
• Interoperability: Kusama supports cross-chain communication via bridges, allowing value and data to be exchanged between different blockchain networks.
• Hybrid consensus mechanism: Kusama uses a combination of Nominated-Proof-of-Stake (NPoS) and Proof-of-Stake (PoS) for efficient and secure transaction processing.

Kusama (KSM) can be bought at Bitvavo. Our platform is suitable for both novice and experienced traders. Follow these steps to buy KSM tokens via our website and app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Go to the Kusama (KSM) purchase page.
4. Enter the amount in euros you want to spend or the number of KSM tokens you wish to purchase and click "Buy".

How expensive KSM tokens are is directly dependent on the price. After purchase, your KSM tokens are deposited directly into your Bitvavo account, where you can easily manage and trade them. This makes it possible to react quickly to market and price changes.

Your Kusama tokens are safely stored within your Bitvavo account, where the majority of assets are managed offline in cold storage for maximum security. Enabling two-factor authentication (2FA) is highly recommended as an additional security measure.

For those who prefer to manage their KSM coins themselves, you can store them in most modern software and hardware wallets. After purchase, you can easily transfer your KSM to an external wallet by linking your wallet address to your Bitvavo account, ensuring full control over your crypto.