Since the inception of cryptocurrencies, this world has taken a prominent place in daily economic news, attracting the attention of newspapers and many people on social media. This strong presence did not fade away over time. Interest in this world, its advances, and its instruments are growing all the time; it doesn’t take long for anything new to arrive on the scene of these currencies, and each requires research, attention, and media coverage. A canary network for Polkadot called Kusama appeared not long ago, and we have an article below that serves as a guide to all you need to know about it.
Emiswap and Kusama
Shiden is a smart contract platform for decentralized applications (DApps) on the Kusama network. The Shiden Community has approved Emiswap to join the Builder’s Program on October 7, 2021. To further boost our developments in the Shiden ecosystem on Kusama, we are listed into dApp staking. Click here to learn more!
What Is Kusama, And How Does It Work?
Kusama was conceived and introduced by Dr. Gavin Wood in 2019 as a Polkadot “canary network” that could be used to test, trial, and expose any flaws in the Polkadot setup. Since Kusama is a self-governing network with no centralized decision-making authority, its users decide on its existence and any changes and modifications. It will survive as long as there is a need for its services.
Kusama is a scalable and interoperable method for integrating several different blockchains into a network of parachains. Kusama lets app developers establish their blockchains and connect them to the leading network.
It may be used as a governance token to handle protocol updates and maintenance and pay fees for parachain message ferrying. Validators may stake their KSM to secure the network and gain inflation incentives. In contrast, nominators can stake their KSM to get a portion of the rewards. KSM may also be used to glue new parachains together to sustain them.
On the Kusama network, you may engage in a variety of activities. Users may participate in governance or on-chain politics, practice validator setup, install a parachain, join cyber societies, yield farm on parachain L1s, and much more.
Polkadot vs. Kusama
Polkadot and Kusama are two separate blockchains with distinct objectives, even though they share a lot of code and basic architecture. On-chain governance, hot-swappable runtimes for forkless, on-chain updates, and Cross-Consensus Message Passing (XCM) enabling decentralized and permissionless interoperability are among the fundamental advances they share.
Polkadot’s slower, more systematic governance approach offers high-value, low-risk enterprises like banking applications that need stability and security. On the other hand, Kusama has reduced economic and technical entrance hurdles, making it ideal for small and medium-sized enterprises with high-risk profiles.
Kusama’s Future
A centralized authority cannot stop Kusama, implying that this money will continue to exist unless KSM holders decide to terminate it, which is very improbable. Kusama might link to Polkadot in the future as a bridge or as a hierarchical sub relay chain.
EmiSwap X Shiden
EmiSwap will build the DeFi of the future on Astar and Shiden and utilize the brilliance of Polkadot and Kusama, deploying a powerful cross-chain AMM DEX capable of lightning-fast transactions, ultimate security, interoperability, sky-high farming/staking APR percent, and a slew of other cool features like gamified and yield-boosting NFT Magic Cards of extreme value and rarity. The lucrative $ESW governance token offers all holders 0.05% of the daily trading fees, as well as a bunch of other benefits like bounty campaigns, airdrops, and referral programs! Thanks for your support! As always, feel free to join our community and contact us if you have any questions!
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