KSM holders can use their tokens as follows:
Bond to the network to validate transactions or launch a parachain
Pay for transaction and messaging fees
Vote on governance proposals or nominate validators into the capped validator set
DOTs investors from previous token sales were able to claim a proportionate amount of KSM at their choosing. Parity Technologies also offered a KSM “frictional faucet” (i.e., one that limits the outputs per account) and issued token grants for those that did not invest in the DOT token sales.
Parity Technologies and the Web3 Foundation also reserved 1% of the initial DOT supply (100,000 tokens) to Kusama stakeholders and its community. This reward serves to incentivize token sale investors and those new to Polkadot to participate within its sister network. Neither company has announced how they plan to distribute these DOT rewards.
Kusama uses Nominated Proof-of-Stake (NPoS), comprising the roles of validators and nominators to maximize chain security. Validators take the role of both validating blocks and guaranteeing the finality of the chain, while nominators can help choose the set of validators by indicating their support weighted by KSM.
The Kusama Network is the unaudited canary network of Polkadot and is, therefore,technologically identical to the Polkadot Network. Kusama intends to use a sharded model where parachains in the network have unique state transition functions. Based on Kusama’s design, as long as a chain’s logic can compile to WebAssembly (Wasm), then it can connect to the Kusama as a parachain.
Like Polkadot, Kusama has a Relay-chain acting as the main chain of the system. Parachain propose new blocks of transactions to relay-chain validators, where the blocks undergo availability and validity checks before being finalized.
Portions of the content on this page have been prepared by third parties not affiliated with Bittrex. Bittrex is not responsible for such content, nor is Bittrex liable for any errors or delays in updating the content to reflect new developments or market conditions. Bittrex is not liable for any actions taken in reliance on the content herein. Material provided on this page is for informational purposes only and does not constitute investment advice. This is not and should not be interpreted as a recommendation to buy, sell, or hold a digital asset or to use a particular investment strategy. You should conduct due diligence before deciding whether to transact in any digital asset. Bittrex makes no representation on the accuracy, suitability, reliability, or validity of any information provided. Prices displayed are for illustrative purposes only and may vary.
