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What is KSM (KSM)?
Kusama was founded by Gavin Wood, founder of Polkadot and former co-founder of Ethereum. He created Kusama as an independent project, which also exists as a testnet for Polkadot.
Often called Polkadot's "canary network", Kusama has a fast-paced development environment. This allows more radical testing in real economic conditions than its more conservative cousin, Polkadot. As a result, all non-transaction-based governance processes are around four times faster on Kusama.
Like Polkadot, Kusama's blockchain is a relay chain that coordinates both communication and governance between its attached parachains. Kusama is also built using near-identical Substrate-based technology and the nPOS (Nominated Proof-of-Stake) consensus mechanism. Both cousin blockchains are multichains with on-chain governance, hot-swap runtimes for forkless upgrades and XCM messaging for interoperability.
Kusama has a strong use case for early-stage startup networks looking to build their custom blockchain thanks to lower entry barriers for parachain deployers. With low bond requirements and fast iterations, Kusama is an exciting protocol with innovation, disruption and cutting-edge technology at its forefront.
KSM is Kusama's native token, used for decentralized governance and network validation.
KSM FAQ
- Cryptocurrencies, such as KSM, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
- Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as KSM have been created as well.
- Check out our KSM price prediction page to forecast future prices and determine your price targets.