The Stability of Kusama has been questioned. Because Kusama is a relatively new network launched in the latter part of the 2020s. As such, those new to cryptocurrency transactions may have questions. Additionally, the network’s primary function is to test the Polkadot network. These are various projects which will eventually end up on the Parachain of the network. Developers and investors may question the stability of the Kusama network. These concerns would be based solely upon its age and availability. But is Kusama stable and safe? To answer this question, we need to look at how it is created. Read on to find out more.
A DAO system
The first thing to note about the Kusama network is that it is a DAO system. This means that it is a decentralized autonomous system. The system is based on these two factors. To define each is important to evaluate the security of the overall network. First, the decentralized portion of the system means that there are no executives or shareholders. For security purposes, this is great. Also, it allows for the system to work without outside influences. You get this when a board of directors can determine the day-to-day functions of the network. For stability purposes, it means that the code is the fundamental authority of the site.
Autonomy is the second part of the DAO system. It is known as being the automated enforcement of the code. Autonomy does not mean that there is no human interaction. You should understand that there are operations that must be conducted by a human influence. This keeps the platform from collapsing. This is minimal. It does introduce a human factor into the stability of the overall network. All bit chains have a level of such. It can be judged as minimal risk.
But who are those who influence the DAO? The governance does.
The governance by the people
The system is not controlled by one person or by shareholders. There is a hierarchy under which the network operates. These influences determine what is added to the network, changes, and updates which may be needed. However, in order to keep the Kusama network secure, these influences have been broken up into three categories of governance.
First, you have the referendum chamber. As the name suggests, they are the ones who refer to changes to the network. Anyone who has KSM purchased can suggest changes. It is important to note that these changes are not immediately approved or rejected. Changes may require a vote. Where a new project is proposed, an auction takes place. Referendums do not affect the stability of the network. They are just people who offer suggestions based on their own experience with the platform.
A non-shareholder council
The council is the second governance party of Kusama and consists of elected members. These are KSM holders who have been voted upon by other members. Council members can affect the stability of the network as they are the ones who approve changes to the software/network. Kusama currently allows for 7 seats on the council. This helps to maintain the autonomy and decentralized nature of the network. They do not want to have a council that turns into a board or shareholders. However, there must be a regulatory committee to judge the validity and merit of the referendum members.
Kusama regulates the number of seats that are available. While the current seats are 7, it is predicted that there will be more seats added. This is due to an increased interest in the Kusama community growth. This could cause concerns with programmers and developers in terms of the overall stability. Remember that the members are elected to the seats by the community, not by shareholders.
But even with this party does not limit the security as the third governance keeps the council in check.
The technical governance
The third party is the technical governance. This party is responsible for the building of Kusama and the implementation of the updates, project, and features therein. If there was a party that could influence the stability of the network, it would be the technical governance. Keep in mind, though, that the program is built upon automated code. This code is constantly tested in a real environment setting. This ensures that it is stable and safe for use. Technical governance individuals are not an active part of the network, as they are only used for updates and, in the case of emergencies, on the network.
Unlike non-bitcoin platforms, Kusama follows the decentralized and non-shareholder system in all aspects of the governance. As the council members were voted upon, so are the technical members. The council votes for the technical members. So, you have the referendum members who vote for the council and the council who votes for the technical. All in all, you have a voting system by the members of the network, ensuring that no one person influences the functionality or the features of Kusuma.
The Stability of Kusama
The Kusama platform is built as a carbon copy of Polkadot. Polkadot has proven to be stable. The Kusama platform should be trusted to hold to the same stability. While there are a bit looser provisions to the Kusama platform, this should not diminish the overall coding and functions of the site. There is a hierarchy regulating the human aspect of the site. Also, there is a focus on the DAO nature of the site.
Overall, the network is secure. KSMs are locked and returned to owners once bids are completed. The KSMs do not transfer to the project owners. The framework will last as the whole thing was developed by Woods, the co-founder of Ethereum. Ethereum has been the backbone for bitcoin platforms for years and continues to show growth.
Like any bitcoin platform, there are risk factors involved. It is important that you review all the terms, conditions, and stipulations of the Kusama site prior to any investments on the network.