At Token2024 conference in Dubai, experienced blockchain figure Gavin Wood announced plans for a fresh protocol named JAM Chain, which will be constructed based on Ethereum and Polkadot‘s foundational concepts.
Wood is an accomplished blockchain expert with over 10 years of experience under his belt. He has played a pivotal role in the establishment of several prominent decentralized networks, such as Ethereum (ETH), Polkadot (DOT), and Kusama (KSM).
The writer of Ethereum’s Yellow Paper, which is the formal definition for the second largest blockchain by size after Bitcoin (BTC), graduated from the University of York.
Gavin Wood: Polkadot JAM chain is a protocol, not software
At the Token2024 blockchain conference in Dubai, Gavin Wood presented the Joint-Accumulate Machine (JAM) chain as a protocol instead of software. As the co-creator of Polkadot explains, JAM is engineered to be quicker and more decentralized in its design and development.
JAM is a platform where anyone can deploy code as a service and get paid based on the resources their code consumes. The payment is made through the acquisition and use of core-time, which measures the resilient and widespread computation power much like Ethereum’s gas purchase. We anticipate creating a CoreChains service that is compatible with Polkadot.
JAM Gray Paper
Wood shared that Polkadot’s JAM Chain brings smart contract capabilities through a decentralized system combining elements of a hybrid chain. In contrast to Ethereum’s EVM, Wood’s proposition introduces a fresh perspective with Polkadot’s new PMB framework, fueled by its underlying infrastructure.
Wood implored interested participants and contributors to study JAM’s Gray Paper.
In addition, the Polkadot co-founder highlighted the JAM prize program, funded by the Web3 Foundation, as an incentive for developers to engage in the project. Rewards will be given out to developers based on their implementation of JAM at different levels. Moreover, builders will benefit from using a full-sized replica of the chain named JAM Toaster, designed specifically for debugging and optimization purposes.
Wood announced that the Polkadot Fellowship, which oversees Polkadot’s updates, will complete and settle on the technical requirements – including tools and software specifications – for operating the JAM chain upon the release of the related proposal within the upcoming months.
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2024-04-18 20:48