Kusama
Crypto Overview
Purpose and Utility
Kusama is designed as a 'canary network' for Polkadot, serving as a live testing environment for blockchain projects before they deploy on Polkadot. It provides a platform for developers to experiment with blockchain applications and governance structures in a real economic environment. The KSM token is used for governance voting, staking, and paying transaction fees on the network.
Business Model Evaluation
The platform's business model focuses on providing infrastructure for blockchain development and testing. The model is transparent and doesn't involve any inherently prohibited activities. The staking mechanism used for network security follows a delegated proof-of-stake model that involves actual asset ownership and network participation.
Real-World Adoption
Kusama has significant developer activity and hosts numerous parachains (independent blockchains) that are actively testing features before moving to Polkadot. The network processes thousands of transactions daily and has a vibrant ecosystem of projects utilizing its infrastructure.
Platform Development
The project maintains strong development activity with regular updates and improvements. The GitHub repository shows consistent contributions, and the technical roadmap is actively followed. The ecosystem includes multiple operational parachains and projects.
Token Distribution and Governance
KSM tokens were initially distributed to DOT holders at launch, with a transparent distribution model. The governance system allows token holders to participate in network decisions through voting. While there is significant trading activity, this trading involves actual asset ownership and transfer.
Crypto Impact
To assign a comfort level investing in Kusama from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Kusama.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.