Kusama Explained: Polkadot’s Canary Network How KSM Helps DOT Scale with Parachains (Altcoin Guide)

welcome back to invest global today we're doing a deep dive on kusama now in the past i recorded a video on this when i was in istanbul turkey it was just really an introduction on kusama but today i want to talk a bit more about why it's important and why i think polka dot did a beautiful thing here by essentially having a canary in the coal mine as they describe themselves and as you see with the logo i'm essentially allowing them to have a highly testable ecosystem so essentially you can test so many different things and i always talk about this in my videos is experimentation is the key to a lot of things so experimenting with all these different things whether it's jobs whether it's anything in life truly experimentation so you can kind of test the best right learn from everybody even if it's what not to do so learning all these different things rapid testing as they show here with all these different blockchain networks that you can create is incredible we're going to be talking about their auctions the actual token here on their medium articles and by the way to start out this video i have to say part of my video down below in the description which talks about how to do your own research in any blockchain projects fundamental technical sentimental and on-chain analysis basically collecting all those things part of the sentiment that i like to look at is things like your twitter and i know some people don't use twitter it's fine with me for a long time i don't personally i don't have one personally but i like to use one for business for research and kusama is a great project to follow so at kusama network you can also follow us at invest global underscore i o it's also linked down below in the description and by the way everything we talked about throughout this video we'll have a link down below in the description for because you need to make sure you're on the actual official sites for all these projects that we talked about it's one of the main things in this industry that you see is a lot of scams out there so maybe if you just search kusama or ksm token a google ad will pop up at the number one place and it's a scam these things happen all the time so make sure you're using either the official links down below in the description or um if you want you can either use like coin gecko or coin mark crap market cap coin market cap um uh and use kind of these official sites here because that's the best way to do it also um if you're looking at doing some tokenomics analysis um pokestats is a great way to break it down but again what you have to understand here is kusama is a great project in my opinion fundamentally because truly what they're doing is they're allowing polka dot to scale but bring this on another layer so pulling these things out of the polka dot ecosystem because a lot of these products are unaudited to go in in the kusam ecosystem so let's get right into it i'm basically just going to walk you through the website everything they have to offer i do have to say they have pretty cool website overall so they basically describe themselves as a scalable multi-chain network for radical innovation that's the beautiful thing about the polka dot ecosystem is it's perishing right so it's they're using all these different chains they're kind of being more interoperable versus some blockchains they're like we're on an island you know it's just projects in that individual blockchain i think that really that kind of inhibits growth it inhibits innovation i think for this blockchain industry to truly grow and prosper we need something like kusama we need things like polkadot we need things like cardano and things that essentially allow us to connect all these islands if you will of blockchain ecosystems you can think on an individual island there's multiple different projects maybe it's an oracle project maybe it's a lending product maybe it's a decentralized exchange whatever it is right all these different things kind of all these different categories in the blockchain ecosystem when you're essentially able to combine them all together in cross chain right they don't have to necessarily be reliant on the other person but they have the optionality so optionality is the number one thing to understand here with cross chain and yeah for radical innovation as i said so unprecedented interoperability and scalability for blockchain developers who want to quickly push the limits of what is possible so just testing out hey will this work you know going from idea to actually putting it to use and then hey if it works with the cassam ecosystem maybe we'll do some audits maybe we'll get it rolling then we launched on something like poker starter then it's in the poker ecosystem pretty awesome especially with launch pads you know i have a full series that i'm actually currently doing on the channel which is essentially the launchpad ecosystem map series make sure to check that out there's a playlist for it um basically talking about how to get an early on icos ideas all these different things using launchpads and basically comparing all the best launchpads out there and all the different blockchain ecosystems right now i'm covering the salon ecosystem so um we talked about so built using substrate with near yeah okay that's the big thing is substrate is really really important especially if your coder um solidity is one of these kind of things for uh for ethereum specifically but there's some there's all these different programming languages out there and substrate is a great one to for to focus on interoperability between all these different blockchain ecosystems in my opinion now i'm not a full-time developer i'm not a full-time coder i do know some kind of surface level things um enough to understand the basics but i'm curious if you guys have anything to say about substrate versus solidity versus whatever other programming blockchain language you focus on let me know in the comments down below um with nearly the same code base as an industry-leading multi-chain infrastructure as kusama's cousin's polka dot so this is the origins um the relationship between i like how they lay this out the relationship between citing technology has deteriorated to the point where large entities routinely stretch and overstep their authority this the whole point of blockchain that's the whole point of decentralization is essentially human throughout all of history basically what they're laying out here is we the problem has always been a trust in a centralized authority look at any societal collapse any kind of whatever it is right any big problem throughout history it's trust in a centralized authority and it really comes down to the level of the individual so having something that is verifiable not being not being reliant on trust but rather being okay we can use trust for person-to-person relationships but verifiability with things like finance or things like health care all these really really important industries for every single human that everybody should have the same access to um these things have kind of been abused throughout history and i think that's what blockchain allows us to do even in things like voting right so it political right these are things where some people in the united states have lost trust in the voting system but using blockchain we can verify these things and using something like kusama maybe if we they come up with a great voting project can roll it out to the pokedone ecosystem and maybe that's the future voting who knows um who knows again what blockchain ecosystem it'll be but anyways moving on here it's a network of built as a risk-taking fast-moving canary in the coal mine so as i talked about that's kind of like you know testing out it's using the coal mine analogy but it's the same thing with gold mines with silver mines uranium mines when people are actually physically in there you need something to essentially tell you um what's going on right it was kind of like the echo in the coal mine that was the whole idea to kind of help you kind of like a polaristar right it's like in the days of old travelers when they didn't have things like compasses things like maps they would use a polaris star to kind of guide them even if they're completely off course i mean that they can't orient themselves even if they do have these tools like like a compass and map whatever it is um they would kind of use the polar star and obviously it's kind of a concept so yeah that's similar with canary in the coal mine but um uh it's it's a living platform built for change agents that take back control spark innovation and disrupt the status quo hey can't argue with that right so we talked about kind of what it's called uh what is kusama i almost said kryptano you can see uh launching your own custom blockchain that's pretty awesome right so low economic variables that's that's huge right so uh launcher custom blockchain or part parachain um project with lower barriers to entry i'm ideal to learn lean startups that move fast and iterates love it love it love it uh quick quick quick rapid testing like minimum viable product is basically what you can do here on kusama like if you're thinking about building a blockchain ecosystem mvp focus on the minimum viable products and then try it out on here right so you can literally click this button here to start building on kusama um if you guys are interested in building your own project let me know because i'd be happy to kind of consult with you i have worked with projects in the past but i'm always interested in anyone who's building things that are innovative things that are interesting that will actually help the world and benefit society overall but um they also things like open governance um pretty awesome there uh besides that i mean it talks about some more detailed things but i did want to talk about this the actual pair chain auction slot um so you can see like how to actually participate here is the path to launching a pair chain on kusama will defer from from team to team um but a typical process could look something like this so you basically design it and build it using substrate as the actual coding language right so then test and optimize it locally then move to a test net like roko determine the slots lease auction strategy join the auction and bid away for approximately one week and then deploy and acquire a slot um after the start of the lease and then lastly renew at the end of the lease period joining another auction so that's pretty interesting um you can also watch the video there but this is more for people who are developing so like i said stay upd on twitter here at hussain network also follow us at invest global underscore oh um let's move on here to poker stats this basically lays out it's similar to like a soul uh soul scan or binding smart chain scan or each scan whatever it is um where you can see all these different things basically going on in the in the blockchain ecosystem there it's not too much to say as far as that goes but let's wrap things up here on a coin gecko with ksm the kusama actual native token around 68 000 people like this it's always a little good for sentimental analysis again check out their their main links here um mark caps 1.8 billion dollars pretty interesting uh 203 dollars is uh is is today's price i'm recording this on july 5th before i'm leaving uh tomorrow i'm leaving or tonight actually i'm leaving for armenia um yeah i've been in georgia for around a month here not georgia state georgia the country uh here in tbilisi it's a beautiful beautiful country but anyways uh trading volume is 165 million dollars that's quite a lot actually um we saw these all-time highs up here of what around like 575 dollars well it says here the all-time high is 621 i'm not sure exactly where they're getting that sometimes it's a bit off but anyways now we've retraced quite significantly but interesting opportunity i think um so again let me know in the comments what you think about kusama i highly recommend checking out their medium article which again i'll have this link down below in the description lays things out very very nicely of how this ecosystem work if you enjoy this video if you enjoy kusama the polkadot ecosystem let me know in the comments down below like the video subscribe to the channel stay up to date hit the notification bell and click all because it's time-sensitive content that's all for this one again just to recap everything join the telegram group link down below in the description follow kusam on twitter make sure you understand this project do your own research follow us on twitter at best global underscore i o and like subscribe button all invest global and until next time

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