Is Kusama (KSM) about to shed its “canary community” label?



Polkadot whale and notable neighborhood member @DonnieBigBags tweeted that the Polkadot to Kusama bridge might be rolled out on the finish of this 12 months. He added that, by formally connecting each chains, Kusama is “extra necessary than ever.”“Importantly it was introduced at this time that the $DOT <> $KSM bridge might be prepared by the tip of the 12 months. This, for my part, makes $KSM extra necessary than ever earlier than. All native $KSM belongings might be available on $DOT and vice-versa.” With that, ought to we anticipate Kusama to step out of Polkadot’s shadow and discard its standing as a “canary community?”The Canary NetworkPolkadot and Kusama each supply third events a extremely scalable interoperable platform to function their very own blockchains.Builders Parity Applied sciences constructed each networks, porting Polkadot’s codebase to Kusama with minor tweaks, making them virtually equivalent.Nonetheless, Kusama’s function within the Polkadot ecosystem is as a preparatory community. In that, builders experiment with improvements there earlier than launching on Polkadot.On that, @DonnieBigBags factors out that Kusama “just isn’t a testnet,” saying some tasks decide to remain fairly than transfer to Polkadot, giving $KILT for example of a undertaking that’s doing this.And, with the $DOT – $KSM bridge that’s quickly to launch, he implies extra tasks will comply with $KILT’s instance and stick to Kusama.“$KSM is NOT a testnet and there are tasks solely deploying on there. Instance $KILT who will solely have 1 token. One token, one chain. Now $KILT might be available on $DOT. It doesn’t want a $DOT parachain.”Kraken additionally weighs in on this by saying as a result of the Kusama community already hosts substantial financial worth, it’s unreasonable to name it a testnet.Kintsugi wins the newest Kusama parachain slotThe eleventh parachain public sale slot was gained by Kintsugi as bidding closed on Wednesday. The undertaking attracted over 8,000 contributions bringing in a complete of 200,000 $KSM ($74,445,973).Kintsugi is a Bitcoin bridge that may convey liquidity for parachains resembling Karura, Shiden, and Moonriver, with the objective of accelerating ecosystem development.“kBTC is a 1:1 Bitcoin-backed asset on Kusama, maintained by a decentralized community of collateralized Vaults.”Commenting on the win, Alexei Zamyatin, the CEO of Interlay, the event agency behind Kintsugi, stated the extent of assist acquired spurs the crew to need to exceed expectations.“Seeing this degree of assist is extra rewarding than the rest — and motivates us to outperform all expectations and show our value to our neighborhood. We’re constructing one of the best bridge on the market — and gained’t cease till we’ve modified the centralized established order.”Parachain auctions work by $KSM token holders bidding for which undertaking they need to see on the community. Advert: As much as 20x margin on FTX. Enroll Get an edge on the cryptoasset marketAccess extra crypto insights and context in each article as a paid member of CryptoSlate Edge. On-chain evaluation Worth snapshots Extra context Be a part of now for $19/month Discover all advantages Like what you see? Subscribe for updates. You may additionally take pleasure in… A deep dive into Polkadot’s tokenomicsBuilt utilizing the Substrate blockchain framework, Polkadot is forming an ecosystem that each enhances present dApp infrastructure and offers new alternatives acknowledged by over 400 tasks growing good contracts, oracles, NFTs, DAOs, bridges, privateness, gaming, IoT, DEXs, and different DeFi options on the platform. 4 min learn →