So, What is Kusama (KSM)?
Kusama can be very well described as “Polkadot’s wild cousin.” Kusama is the wild cousin for Polkadot because it is an experimental blockchain ground for Polkadot. It is designed so developers can test their projects on a canary network first before they even plan to launch on Polkadot. Polkadot is more like the business version of the network which is more dedicated to security than experimentation while Kusama is the playground where all the experimentation is done.
Kusama is built on Substrate which is a blockchain development kit by Parity Technologies. It has almost the same codebase as that of Polkadot but it serves more as a testing ground for Polkadot.
Kusama will be launching its para chain auctions first because it is where it all starts. Only 100 projects will be able to secure a parachain slot in Kusama network and only a number of them will be able to find a slot in Polkadot parachain which will happen later to Kusama parachain auctions.
What are Parachain Auctions?
Before understanding parachain auctions we need to understand these two terms below:
– Relay Chain – The relay chain is the main network where transactions get finalized. Parachains get connected to the relay chain.
– Parachains – Parachains are custom blockchains with different functionalities that get anchored to the relay chain to use its computing power and to confirm the transactions.
To fairly determine which blockchains get a chance to leverage the relay chains and use their resources a candle auction is done between multiple participating projects. These parachain auctions will help these teams to secure a parachain slot in the relay chain. It is expected that these auctions will be happening every two weeks once the parachain auction dates are announced.
How do I easily buy Kusama??
Parachain auctions are approaching now and the excitement around them can be seen in the price action of Kusama and DOT tokens. In the above video, we have explained what can be expected from Kusama price action in the coming future.
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