KUSAMA The Canary Network
Updated
- Everyone knows about KSM right ? if you don't, you should DYOR.
What Is Kusama (KSM)?
Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.
Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.
By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”
- The interesting fact about Kusama is : if you want to participate in KSM Parachains, you have to lock your tokens for 1 Year, but with Polkadot Parachains the locking time is 2 years.
----------------------------------------------------
Trading Plan
----------------------------------------------------
Buy Zone : 320-330$ ( Buy the Breakout )
TP1 : 499$ (security TP)
TP2 : 679$
----------------------------------------------------
SL : No need
----------------------------------------------------
Be Safe and follow TheKing !
Happy Tr4Ding !
What Is Kusama (KSM)?
Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.
Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.
By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”
- The interesting fact about Kusama is : if you want to participate in KSM Parachains, you have to lock your tokens for 1 Year, but with Polkadot Parachains the locking time is 2 years.
----------------------------------------------------
Trading Plan
----------------------------------------------------
Buy Zone : 320-330$ ( Buy the Breakout )
TP1 : 499$ (security TP)
TP2 : 679$
----------------------------------------------------
SL : No need
----------------------------------------------------
Be Safe and follow TheKing !
Happy Tr4Ding !
Note
i will add this comments for peoples not aware about that.What are parachains?
Parachains are individual blockchains running in parallel within the Polkadot ecosystem (the Polkadot and Kusama networks).
Polkadot architecture consists of up to 100 parachains connected to and secured by a central relay chain. Parachains can interact and exchange data and assets with each other within the system, and can also connect to external networks such as Bitcoin and Ethereum using bridges. This flexibility addresses the problems of scalability, security and interoperability that have hampered blockchain development so far.
For Polkadot and Kusama, a crowdloan is a way for new projects to bootstrap its parachain auction.
So crowdloan allows people to contribute by agreeing to lock up their own ksm (dot) until the end of the lease. Teams can reward their contributors however they see fit, and can structure their crowdloan in various ways, hosting it either natively on Kusama (Polkadot) or on a 3rd-party platform.
If a team does not win an auction, the funds are returned to their owner and unlocked. The team will need to initiate a new campaign if they wish to continue participating in auctions.
Note
so basically i will give you an exemple, On this website you have a list of Parachains :parachains.info/auctions/polkadot
So let's say you want to invest in "Centrifuge" Project, then for 1 DOT you will receive 2.8+ CFG for free. You will get your Centrifuge Tokens just after the auction ended, in counter parts you will have to lock your DOTs invested for 2 years. if Centrifuge not win the "Parachain Slot" Your Dots will be returned and not be locked.
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.