Understanding Kusama in one article: Beta Polkadot
Editor's Note: This article comes fromGolden Finance, reprinted by Odaily with authorization.
Golden FinanceEthereumGolden Finance
Ethereum
background
Defects. Projects that can solve performance problems and have a huge ecosystem may belong to Polkadot. This issue of Hardcore focuses on the beta version of Polkadot - Kusama.
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background
Using Kusama, new features that are planned to be deployed on the Polkadot main chain can be tested. The difference between Kusama and other testnets is that the decisions made in the platform have real economic significance. The testnet only offers playground tokens with no real value.
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What is Kusama?
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canary test
Canary testing is important because the developers behind both chains agree that this is the best way to fully understand the significant risks of Polkadot's development.
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Kusama Token
Kusama’s native token is KSM, which holders can use to stake, become a validator or nominate a validator, and vote on its governance mechanism. Furthermore, it is the token that powers most of the mechanisms in the Kusama network.
Investors who purchased DOT during the Polkadot ICO are eligible to receive an equivalent amount of KSM on the Kusama Network.
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Consensus Protocol: Nominated Proof of Stake
In Polkadot, the selection of validators focuses on the balance between three metrics (Phragmen algorithm):
Verifier
Total number of tokens staked by nominators and their nominators
The variance of a set of mortgages.
Parachain
To become a validator, users must first stake KSM. Once a user already has the minimum amount of tokens required to become a validator candidate, they can be elected as a Kusama validator according to the Phragmen algorithm.
Currently, Kusama has over 130 validators.
Parachain
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governance
How Parachains Work
On the other hand, the task of the Collator is to maintain the entire parachain. Validator nodes keep all data about the parachain and create new candidate blocks to validate and record validators.
Parachains can derive independent economic benefits from the Polkadot network and its own native token.
governance
The process of governance function is as follows:
Proposal referenda: Each referendum contains a specific proposal, used as a privileged function call. The referendum includes a time period designated for the voting procedure. They can be submitted by Polkadot token holders and the council, or obtained from previous referendums or proposals by the Kusama Technical Council after approval by its council.
Proposal by voting: There are only two options when voting, "Yes" or "No". If a proposal receives a majority, it can be implemented. But before the proposal can be implemented, users are required to lock up tokens until the entire implementation period has passed. The purpose of this parameter is to ensure that proposals achieve a minimum economic acceptance and discourage ticket buying.
Tip: When the network votes on a particular proposal, three things happen. Proposals differ in whether they come from the public or the council, and therefore the requirements for voting also differ.
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Kusama vote
For each proposal, the number of "yes" and "no" votes is taken into account as a factor in turnout or the total number of voting tokens.
In cases where turnout is positively biased (if voter turnout is low), more yes votes are required. With negative turnout, it requires more negative votes. For council proposals, only a simple majority is required.
Kusama Council
Despite active stakers, there are disruptions in the Polkadot and Kusama ecosystems. Through a 17-seat on-chain entity, the Council decides on three major governance tasks, including referendum proposals, removal of manifestly dangerous referendums, and election of network technical committee members.
Kusama has deployed the association module, an economic incentive game designed to reward users for participating and maintaining membership associations. However, the rewards have a certain time limit. This means that users cannot immediately receive incentives until the rights expire.
in conclusion
If community members are not attracted, the association can punish members by cutting membership incentives. There are many other violations, such as not participating in ballot propaganda.
Through the kick-out system, members whose violations exceed a certain limit will be kicked out of the association.
