The first-ever launched Kusama or Polkadot’s Wild Cousin was an experimental version of Polkadot. It mainly focused on providing the developers with a platform to set up and bring the parachains into practical action. At the same time, it helped in the experiment with different governance tokens of Polkadot, such as validation functionality, nomination, and staking.
Kusama is considered one of the leading cryptos at present and is an asset that will produce rich profits in the future with relevant updates and promising rallies in 2021 and beyond.
Binance Futures, out of the other major trading marketplaces, recorded $50 million-plus volumes every day, which is the highest. So when the canary network increased its price three times, it became a queue for the Kusama coin to become famous.
What is Kusama? Brief Summary
Kusama coin is a form of cryptocurrency or a digital asset. Kusama is an upgrade to its cousin Polkadot with a better, fast-moving, risk-taking canary network. The founder of Polkadot, Gavin Wood, founded Kusama in 2019. He was also the former CTO of Ethereum.
Kusama also uses the same code as its cousin Polkadot and is an extensible network of blockchains. So, if any team wants to set up an arrangement on Polkadot, they can carry out their experiments on the platform of Kusama, it is unique among blockchain platforms in that it is primarily designed for developers that wish to launch big, ambitious projects at a rapid speed of development.
It is built on a multichain, heterogeneously sharded architecture that employs a nominated proof-of-stake (NPoS) consensus method as an alternative to the energy-intensive proof-of-work (POW) approach utilized by many other blockchains.
How Does Kusama (KSM) Function?
Kusama is Polkadot’s sister chain, and it mirrors many of the Polkadot network’s primary design characteristics. Kusama, for example, processes transactions and manages network activity using two types of blockchains. The main network is known as the Relay Chain, and it is where validators are staked. The Relay Chain has limited capabilities and is in charge of system coordination. There are also user-generated networks known as Parachains, which can have a variety of designs, functionalities, and use cases depending on the project that employs them.
This approach allows it to make rapid on-chain upgrades without requiring a fork, as well as allowing cross-chain message passing (XCMP) to communicate with other parachains on the Kusama network. Kusama, like Polkadot, has on-chain governance capabilities.
This on-chain governance is both decentralized and permissionless, letting anybody with Kusama (KSM) tokens or para chain tokens vote on governance proposals such as purported upgrades, protocol changes, and feature requests. This on-chain governance mechanism is nearly four times faster than Polkadot’s, with a combined voting and enactment duration of only 15 days — resulting in a rapid speed of development for Kusama-based projects.
Best time to invest in Kusama(KSM)?
If you want to buy KSM, this could be the best time to do so. This is due to Kusama’s price being at one of its lowest points this year. At press time, the KSM coin was trading at $191.84, up 13.98 percent on the daily trading chart. This is an upward trend from the previous two days’ low of $172.
However, KSM prices have not always been low. The year 2021 was a watershed moment for the digital token, as it was for most cryptocurrencies. This caused it to reach an all-time high of $594.44 on May 14th, before the crypto market meltdown that followed.
Despite having had its value cut by more than half, KSM has been making considerable returns, rising to $473.07 on June 10th.
The First Parachains Launch on Kusama — June 22, 2021 Kusama Network
The Kusama community has just voted to upgrade the Statement parachain’s runtime, Kusama’s instance of Statement. Kusama’s first featureful parachain was Statement. The launch of a parachain, like the launches of Kusama and Polkadot, is a multi-step procedure.
Statemine Upgrade Launches New Phase of Parachain Functionality
July 26, 2021 in Kusama, Parachains
Start Investing in Kusama(KSM)
To start investing in Kusama and other cryptocurrencies, you must first create an account with a cryptocurrency exchange that allows you to buy Kusama in India, sell, trade, and store. A cryptocurrency exchange broker is a website that allows you to trade Kusama in India and other cryptocurrencies. If you want to buy Kusama in India and get the best Kusama price in India quickly and effortlessly BuyUcoin Exchange! is one for you. You can even invest in Kusama using your MasterCard, Credit Card, UPI, or NEFT.
Is Kusama(KSM) a good investment in 2021?
The Kusama participants have recently voted and decided to upgrade the runtime of the Statement parachain with consensus. Our upgrade from Shell to Statement added features for fungible and non-fungible assets as well as the teleport interface to accept KSM from the Relay Chain as its native unit of account.
Statemine upgrade is still in the trial phase, and the authority to make assets is only in the hands of the Kusama Council. However, once the evaluation is done from the Parity and Web3 Foundation along with the Kusama council, anyone can begin making assets and NFTs on Statemine with a 1 KSM deposit for each asset class.
With this upgrade at Kusama, we expect multiple real-world assets created on Statemine. Kusama’s unique position as a Polkadot canary network gives it a “first-mover” advantage on many new dApps and initiatives for the Polkadot ecosystem. Many dApps will be released on Kusama before being stabilized and updated for the Polkadot network.
Why invest in Kusama(KSM)?
Kusama is four times faster and efficient than Polkadot; it is developer-friendly and censorship-resistant. Moreover, with the latest updates through the democratic process, Kusama is a profitable investment for the future.
Kusama brings several advantages for your projects and investments, including:
- Investors can track KSM performance diligently for an uptrend
- Latest innovative technologies and tools from Web3 Foundation and Parity Technologies
- Interoperability option by bringing multiple blockchain networks together
- Future proof network for corporates, businesses, and applications to deploy and mature with sharded blockchains and open governance methods
- One of the crucial advantages of using and investing in Kusama is our customization option. Developers can create their app-specific blockchain and connect with our Kusama through Substrate
Worth buying Kusama(KSM) in India?
The current price of Kusama in India is 19,915.22 INR, with a 24-hour trading volume of 25,359,697,443 INR, & a market capitalization of 168,683,893,571 INR There are 8,470,098 KSM coins in circulation.
Kusama’s distinguishing characteristics
- Fast Iteration: Fast iteration ensures optimum utilization of upgrades and processes. Developers can shift easily through governance and changes. It supports excellent growth and improvisation in your projects.
- Cost-Efficient: Budget barriers are low. Startups and low-volume companies can initiate their customized blockchain or parachain project with Kusama without a feeling hole in the pocket.
- State of the art technology: Kusama built on the latest technology and continuously upgraded as per trends and requirements. Our multi-chain network, sharded features, etc., will make your investment profitable.
- Open Governance: Kusama works on democratic rules. Here a community of network professionals vote and decides on the latest upgrades and improvements.
Kusama Predictions: Market Sentiment
Based on our Kusama (KSM) price forecast, a long-term increase is expected; the price prognosis for 2026 is 4581.970 USD. With a 5-year investment, the revenue is expected to be around +1128.84% from the current price level.
The price of Kusama might grow exponentially in the upcoming years. Kusama has been showing a positive sign. According to our prediction services, the future price of the KSM/USD is forecasted at $1318.727848 (207.414%) after a year.
The coin price seems to be showing moderate signs. It may disappoint its investors, sailing barely at $564, and that too with difficulty to enable traders to sell Kusama (KSM) tokens.
Kusama (KSM) occupies a unique position in the market as the most productive testnet available today. The fast and often chaotic nature of Kusama’s network creates unique and lucrative options for both investors and users. Furthermore, it was established not just by an Ethereum co-founder, Gavin Wood, but it also shares the same development team as Polkadot, as well as the creative and dependable Polkadot codebase. KSM, with its forward-thinking design, is positioned to be a market leader in dApp production and blockchain development, and will most certainly be one of the most active and useful testnets for many years to come.
Invest in Kusuma with correct and updated information. Then, make a wise decision without any haste and misinformation. Do your research and make a move after complete satisfaction and understanding
Note: Do not regard this as financial advice; in fact, customers are recommended to perform their own research before considering investing in cryptocurrencies, as the cryptocurrency markets may be highly volatile.