WHAT IS KUSAMA (KSM)
Kusama is Polkadot testnet or test platform. Therefore, to understand what Kusama is, you must first find out what Polkadot is. Polkadot presented this first experimental version of its protocol on July 16, 2019. Kusama is an experimental network that allows developers to research and develop in a real environment, perform staking, and learn to build and use parachains, among many other features that the Polkadot network will offer later. Thus, this test network will allow to detect potential risks and issues, guaranteeing the correct functioning of Polkadot.
Calvin Wood, a co-founder at Web3 and Polkadot Foundation, speaks of Kusama as a first step into the unknown, which will enable finding out “what kind of chaos awaits us.” He also says it is a platform to test high risk projects.
Kusama (KSM) value
Kusama has its own native token, the KSM.The holders of these tokens will become owners of the network, being able to make use of various features offered by the platform. The distribution of KSMs is linked to the distribution of DOTs. That is to say, those who purchased DOTs own a proportional share of KSMs. If you didn’t buy DOTs, however, and still want to get KSMs, you have to follow a process.
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What is staking?
Staking is a process, by which one can make a profit, as well as have a right to vote on a crypto project, by acquiring cryptocurrencies and locking them in a wallet. It differs from the HODL system in that it blocks your balance, making it impossible for you to use it freely.
What is parachain?
A parachain is a simple blockchain that runs in parallel to a core blockchain. You can read more on our What is Polkadot page.