Kusama will change the entire crypto landscape as it is making its mark on crypto users in a major way so let’s find out more in our latest crypto news today.
Kusama is a unique project which has been drawing a lot of attention recently because of its unique design, its functionality, and future-oriented ecosystem. The project can be seen as a more polished version of Polkadot with the platform serving as a testing ground for other projects as it allows them to check their scalability and interoperability functionalities before they get released on the DOT network.
Right off the bat, it’s important to know that Kusama lowers a lot of barriers for entry of early-stage projects especially those that are quite innovative in their design but are still another level of experimentation higher and therefore cannot be ready for large-scale deployment. In other words, the platform serves as a precursor to Polkadot where the developers can experiment and test the new blockchains or applications before releasing them. Another interesting aspect of the project is that all official Polkadot updates are tested on the ecosystem before being released for public consumption. However, the difference is that, unlike Polkadot, Kusama is more flexible and provides the developers with flexibility in terms of less stringent governance parameters.
One of the main benefits that Kusama provides to its list of backers is that it enables Polkadot projects to create a name for themselves and gain community traction before going live. The Kusama token holders have a week now to vote on referendums while Polkadot provides token holders with a voting period of 28 days which is followed by another 28 day enactment time period. in terms of financial benefits, Kusama provides investors with some higher returns. The KSM token holders can stake their coins and get decent annualized returns up to 20% on their investments.
Kusama’s upcoming Parachain Auction gained plenty of attention from the global crypto community as well with its Acala network project booming after it won a parachain slot auction. The new project aims to issue its own USD Stablecoin dubbed Acala Dollar. In the long run, Kusama will change how the crypto landscape works because its use cases will grow and will allow users to try new innovative features and ensure that everything is working well before getting launched on the main network.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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