Polkadot Soft-Launches Its Experimental ‘Canary Network’ Kusama

Published at: Aug. 23, 2019

Blockchain interoperability protocol, Polkadot, launched its experimental “canary network” dubbed Kusama, this morning, Aug. 23. In a blog post, the team announced the first deployment in the wild of its protocol, combining “bleeding-edge technical improvements in governance, consensus and scalability.”

Limited functionality for soft launch

In order to get off the ground, Kusama was begun as a Proof-of-Authority (PoA) network. All validator nodes are currently being run exclusively by the Web3 foundation. During this initial period much of the functionality is disabled, most notably balance transfers and governance. Functionality will be limited to staking, sessions and claims modules.

The period will continue until between 50 and 100 well-backed validators are bonded and ready. After this, which Polkadot expect to last from one to four weeks, an upgrade will be introduced to remove Web3’s authority over the chain.

Effectively, this will transform Kusama from a centralized PoA network to a decentralized Proof-of-Stake (PoS) network. At this point, governance and transfers will be activated, and the Kusama network will be functionally live.

Canary Network

As previously reported by Cointelegraph, the Kusama “canary network” is a conscious decision to eschew “fake” test-nets and “step into this unknown and see what chaos awaits.”

Kusama will only exist as long as there is community demand, and Polkadot expects it to unlock new, high-risk functionality and projects that would serve as a preparation stage for development and deployment on Polkadot.

Tags
Related Posts
DeFi hub Karura emerges as first Kusama parachain slot auction winner
Karura network has emerged as the winner of the maiden Kusama parachain slot auction. According to an announcement issued on Tuesday, Karura pulled support from over 15,000 entities who staked Kusama (KSM) tokens in favor of adding the decentralized finance hub as the first Kusama parachain. In total, Karura locked up over 500,000 KSM currently valued at $90 million based on the Kusama market price as of the time of writing. Earlier in June, United States crypto trading platform Kraken launched a parachain auction platform for users to support bids for Karura. The first-ever @kusamanetwork parachain slot auction has been …
Technology / June 22, 2021
Kraken launches Kusama parachain auction platform as KSM defies downtrend
United States-based cryptocurrency exchange Kraken has announced a “first-of-its-kind” parachain auction platform enabling clients to participate directly from the exchange. In a blog post on Tuesday, Kraken revealed the new platform will enable users who qualify to pledge support for Kusama projects vying for a parachain slot by staking Kusama’s KSM tokens. The rewards for contributors who support a winning bid vary and can include referral bonuses, early participation bonuses and airdrops. Polkadot’s multi-chain ecosystem will use sharded sidechains to process transactions in parallel. These Parachains are acquired in the auction process whereby projects try to outbid each other for …
Technology / June 9, 2021
Subsquid building decentralized indexing technology with new $3.8M funding
Subsquid, a query node framework for Substrate-based blockchains, announced Thursday that it has closed a $3.8-million seed round led by Hypersphere Ventures. The company said that it expects to use this seed capital for developing the first blockchain indexing solution. The new data query technology, as per the announcement, will tap into a network of indexers and allow anyone to join and contribute data to Subsquid data users. While commenting on the successful seed closure, Subsquid’s technical founder, Dmitry Zhelezov, stated that: “We are looking forward to rolling out more functionalities in the coming weeks, allowing blockchain developers to harness …
Blockchain / Nov. 11, 2021
VC firm becomes one of the first to establish Polkadot Ecosystem Fund
Web 3.0 presents a new future for the internet, giving the world access to the decentralized version of the virtual world. With blockchain technology, this web evolution will provide a more user-centric environment, thereby eliminating the power currently held by corporations. By giving the control back to those engaging in online interactions, data monetization will be minimized, personal details will be protected, and trust will begin to replenish. Conceptually, Ethereum (ETH) was designed to solve these concerns. Unfortunately, in practice, the platform has become subject to expensive and overly-sluggish transactions. Although Ethereum may not have the right capabilities at present, …
Decentralization / March 21, 2022
Staking on Polkadot, explained
Are there any other limitations to consider? Yes — as your funds may need to be locked up in order for rewards to be generated. With some non-custodial staking providers, you need to delegate a minimum of 120 DOT in order to stake — that's worth about $840 at the time of writing. Worse still, failing to withdraw rewards regularly can mean they vanish after just 12 weeks. In some cases, you can lose your rewards and end up paying punishing fees if you try to redeem your DOT early, too. XGo does things differently and says it offers staking …
Blockchain / Sept. 5, 2022