What is Kusama (KSM)? How Does It Work?

Kusama (KSM) is a popular asset in the cryptocurrency market that offers a unique perspective and business model for testnets, commonly used in blockchain infrastructures. Serving as a supportive network for the Polkadot blockchain, this article covers everything you need to know about Kusama (KSM), including “What is Kusama (KSM)?”, “How does Kusama (KSM) work?”, “How is Kusama (KSM) stored?”, and “How to buy and sell Kusama (KSM)?”

An Active Test Network

Nearly every blockchain project has a testnet. These networks are designed to allow updates and new applications to be tested in an environment that mirrors the main blockchain network but is not connected to it. This way, any potential issues or damages due to errors or oversights can be identified and addressed within the testnet without affecting the main network.

Although Kusama (KSM) initially started as a testnet for the Polkadot blockchain, it differs from other testnets by functioning as a fully active blockchain. Unlike typical testnets, where assets have no real value, Kusama (KSM) offers real assets and value, setting it apart from other testnets.

While Kusama’s approach may be different, its purpose is similar to that of other testnets. Developers who want to build or update applications on the Polkadot blockchain first do so on Kusama. Since Kusama’s infrastructure is almost identical to Polkadot’s, a successful project on Kusama is likely to succeed on Polkadot as well.

The Kusama (KSM) Advantage

Projects using testnet usually integrate their main versions into the main network after ensuring everything works smoothly. Since Kusama is an active blockchain, projects that test their products here do not abandon their platforms when they succeed. Kusama operates like an independent blockchain, attracting projects with its own user base and liquidity. The greatest advantage of this setup is that successful projects typically launch first on Kusama and then on Polkadot. This allows Kusama’s users to benefit from products at a much earlier stage.

KSM Token

The native cryptocurrency of the Kusama blockchain, KSM, can be used to pay transaction fees on the network as well as for services provided by Kusama.

Since Kusama uses a Proof of Stake (PoS) infrastructure, users can stake KSM tokens to have a vote in the network and earn rewards.

Kusama Blockchain

Kusama, similar to Polkadot’s structure, has independent Parachains operating within it. As a result, the network has two layers of governance. The first layer, the “Relay Chain,” is responsible for the overall configuration of the network, while the second layer consists of independently operating Parachains.

Get to Know More

• Kusama was founded in 2016 by the founders of Polkadot: Gavin Wood, Peter Czaban, and Robert Habermeier.
• The KSM token began trading on the market in December 2019.
• KSM was distributed at a 1:1 ratio to everyone who participated in the DOT token distribution.
• The development team for both Polkadot and Kusama is the same.
• You can access Kusama’s website [here].
• For detailed information about Kusama, click [here].

How to Store Kusama (KSM)?

You can store and manage your KSM assets with browser, desktop, mobile, and hardware wallets that support the Kusama blockchain.

How to Buy and Sell Kusama (KSM)?

To buy and sell Kusama (KSM) with Turkish Lira or Tether (USDT), you can use the BtcTurk | Kripto website or the BtcTurk | Kripto mobile app. If you are not a member of BtcTurk | Kripto, you can sign up immediately on our website or mobile application and buy Kusama (KSM). You can deposit Turkish Lira 24/7 using one of our seven affiliated banks.