Buy Kusama (KSM)
What is Kusama?
Kusama is a scalable network of specialised blockchains built using Substrate and sharing a nearly identical codebase with Polkadot. It acts as a "canary network," serving as a risk-taking, fast-moving platform for experimentation, where developers can test new blockchain features and applications before launching them on the Polkadot network.
How does Kusama work?
Kusama operates with a dual blockchain structure that includes a relay chain and parachains. The core technology is built on Substrate, employing a hybrid consensus mechanism known as Nominated Proof of Stake (NPoS). Validators, chosen by nominators, produce blocks and validate transactions. Kusama supports smart contracts and custom blockchains via parachains, fostering enhanced scalability and interoperability.
What are the potential use cases for Kusama?
Kusama offers a range of use cases:
- Testing and Validation: It provides a platform for testing and refining new blockchain ideas.
- Decentralised Applications (dApps) and DeFi: Developers can deploy dApps and decentralised financial services.
- Interoperability: Utilising its bridges and parachains, it enables secure and efficient blockchain interoperability.
- Governance: On-chain governance allows community-driven decision-making.
- Real-World Applications: Use cases extend into supply chain, identity verification, gaming, and NFTs, among others.
What is the history of Kusama?
Kusama was founded in 2019 by Dr. Gavin Wood, a co-founder of Ethereum and founder of Polkadot. It was developed to provide a testing environment for Polkadot, branded as a "canary network." It launched in August 2019, employing the same design principles as Polkadot, including a relay chain and parachains. Over time, Kusama has implemented governance updates and introduced parachain slot auctions, reinforcing its role as a flexible and experimental blockchain platform. The ecosystem has grown notably, reflecting its significance within the broader blockchain community.
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Frequently Asked Questions (FAQs)
What is the current price of Kusama (KSM)?
The Kusama price is $50.29 AUD, representing a +8.37% from the day prior.
Where is the best place to buy Kusama (KSM) in Australia?
The best place to buy Kusama (KSM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Kusama (KSM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Kusama (KSM)?
The trading volume of Kusama (KSM) is $81.8M AUD in the last 24hrs, representing a +8.37% from the day prior.
How can I buy Kusama (KSM)?
Kusama (KSM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Kusama (KSM)?
The current market cap of Kusama (KSM) is $791.3M AUD.
Can I convert Kusama (KSM) to cash?
Yes - With Coinstash you can convert your Kusama (KSM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Kusama (KSM) are there?
The current circulating supply of Kusama (KSM) is 15.9M.
Is Coinstash a safe place to buy Kusama (KSM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Kusama (KSM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.