Polkadot ecosystem, the Ethereum’s Contender - Crypto Academy / S4W7 - Homework Post for @allbert

Thanks professor for this great lesson based on, Polkadot ecosystem, the Ethereum's contender.
This lesson explains the remedy of the Polkadot ecosystem to several limitations of the Ethereum's and even a better process since one of Ethereum's founders, started Polkadot up
I wish to express my understanding of the lesson through this assignment, Thank you!

image designed by me in canvas

1-Explain in your own words why you chose it and why do you think it is relevant to the world?

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The project /platform based on the Polkadot's ecosystem I've chosen, is the Kusama.
Why I chose it, and I think it's relevant to the world :

Firstly, I understand one of the strong features of good platforms should be versatility and this, is a very great future of Kusama which made me choose it. "This platform builds, a friendly system allowing for several developers to test-run softwares or even blockchains before they are inaugurated on the main network ie (Polkadot) these experiments apply even to upgrades on the main system.

It's relevance :

• To users of this platform, the Kusama system allows for the projects tested and experimented on their system to gain and grow user base and momentum in the system even before final and original launch.

• The Kusama platform also imitates a great and important feature of the main Polkadot system which is that it holds a dual blockchain system allowing for indelible records of transactions on one called the relay chain and on the other, (known as the parachain) user networks which could be edited and could even help to keep the original chain secure by leveraging.

2- Description of the project and its platform. (Screenshots needed)

Description of the Kusama project and its platform :

The Kusama project on the Polkadot ecosystem was birthed in 2016, by the founders of the Polkadot system too namely :Gavin woods, Robert Habarmeier and Peter Czaban.
As I already highlighted, this project served as a peculiar "canary" experiment platform for Polkadot. This project serves as a testnet for several blockchains to experiment their projects and decentralized softwares even with bigger benefits since they have advanced parameters allowing them to work much more speedier than even the Polkadot network.

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The Kusama platform makes use of two blockchains ie a relay chain and a parachain where on the relay chain, permanent data of transactions are recorded and on the para chain, user generated networks, are managed and leveraged, hereby helping keep the main network secure.

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The native token of Kusama is the Kusama token and is valued at $369. 95 as per coinmarket with a market cap of over 3.119, 178, 460USD and grants its holders power to vote according to the quantity of KSM they stake and invest

image from kusama platform

This too explains the background of the Kusama platform showing the parachains responsible for user generated networks including other menus for user enhancement

3- Functionalities and real-life applications. (Screenshots needed)

Functionalities and real life applications of Kusama :

• Firstly, we understand that Kusama offers an open, pre-launch environment where blockchain and decentralized apps developers are free to test run their apps before they are finally initiated into the network. This makes for the check out and correction of faults which the software might have originally.

LIFE APPLICATIONS :

• The Acala and Moonbeam PROJECTS on the Polkadot's ecosystem coming up soon would be test run still on the Kusama platform which would help for a more solid launch.
• Secondly, this system helps the coming - up apps, grow user base and gain momentum before they are finally released since the platform helps the new project get popularized and expands its user base before its finally launched.

4- Future development and associated projects. (Screenshots needed)

It's crystal clear that the Kusama Platform, plans for greatness alongside with plans to create potential partners, and even updates of the system since it would lead in great edification of the system and even, better performance of the system coin (KSM).

A great future development and an associated project of this this Kusama project could be seen as in the like of the the announcement from Chainlink to allot grants, to chain safe systems which could enhance, the improvement of hybrid smart contracts.

The main benefits of this development would be felt as the project's blockchain would be made more interoperable along several networks
The project also aims to launch the longly waited-for parachain auctions.

image from kusama platform

The parachain crowdloans is also an on going project that allows users to lease their coin in participation and encouragement of the project for 1 year after which the parachain rewards them with either native token or any manner they wish

5- Carry out a technical analysis of the token of the selected platform, then through your validated exchange account make the purchase of the token (15 USD minimum). Screenshots and an explanation of the procedure are required.

Before we move into the technical analysis of the kusama coin it is important that we know a few details about the kusama coin as stated by the coinmarketcap

below is the image with all details including, price, ranking, volume, marketcap etc

For this assignment I will be giving the technical analysis of the kusama coin on a 45m chart, using the moving average at 50 and at 100

Below is the chart

image from tradingview

From the chart above we can see that the long moving average of 100 crosses over the short moving average of 50 which is called a death cross, and we can see a drastical fall in the price of the coin

Also along the chart we can see that there was a point where the short moving average crosses over the long moving average which indicates a golden cross and we can see a corresponding rise in the coin

Also I feel the rise in Bitcoin had a significant effect on the coin as it is interwoven with alt coins and pokaldot.

Have said this I will be moving to binance to make my purchase of the coin.

• Just as we are familiar with the process of purchase on binance, first you need to open the app and click on trade and then search the pair that you need to purchase, for me I will search for ksm/usdt pair and click on it

• Click on buy to make a purchase with your usdt stable coin

• Input the amount of usdt you are willing to trade and also with the corresponding limit price. For me I will be making a purchase of 15usdt as demanded

• Below is the order of the filled trade

Images gotten from binance

CONCLUSION

The KSM (KUSAMA) coin is a high prospect coin with so much to look out for with it's user-friendly database and it's ability to allow software developers test and build their knowledge, it is a great addition to the polkadot ecosystem and for me I learnt a lot and bought the coin for my own self. I thank @allbert for this wonderful lecture and God bless you all for reading through my post.