Gavin Wood, the founder of Polkadot, has unveiled a document, referred to as the “Gray Paper,” detailing the upcoming enhancements to Polkadot through the Join-Accumulate Machine (JAM) update.
During his speech about Polkadot’s upcoming developments at the Token2049 cryptocurrency event in Dubai, Wood shared the news.
The Future Of Polkadot
Wood asserts that JAM represents an innovative development, combining features from Polkadot and Ethereum. In a post on X, Polkadot announced that this unveiling, marking ten years since the publication of the Yellow Paper, signifies a major advancement leading to the replacement of Polkadot’s current Relay Chain with a more flexible and streamlined design.
Earlier today, @gavofyork introduced the JAM Gray Paper. JAM represents a new protocol that incorporates aspects of both Polkadot and Ethereum. This could potentially serve as a future alternative to the Relay Chain with a more flexible and streamlined architecture.
Web3 Foundation, which supports Polkadot, unveiled a reward of 10 million DOTs to encourage more variety in the creation of the JAM protocol’s development.
“The JAM Implementer’s Prize is designed to catalyze this by funding and supporting projects that contribute to the development of JAM implementations from the outset.”
A Decentralized Hybrid System
JAM, in simpler terms, is a platform that brings together the security and scalability of Ethereum’s smart contracts with the flexibility of Polkadot’s decentralized architecture.
JAM is a new protocol that blends features from Polkadot and Ethereum. It represents an anticipated solution with a more flexible, streamlined design, potentially replacing the current Relay Chain structure in Polkadot.
The Web3 Foundation further added that JAM would enable Polkadot to run generic “services” smart contract logic to process execution results on cores. A parachains service will also run on existing Substrate-based parachains. This will allow developers to still use Substrate to develop and deploy blockchains. JAM provides a global permissionless object environment similar to Ethereum’s smart contract environment and secure sideband computation parallelized over a scalable node network. According to one supporter, the JAM upgrade will allow Polkadot to become a true multi-core world computer that can handle any app or service without facing scalability, efficiency, or security issues.
“[Polkadot] has already become a multi-core processor, but this was limited to parachains. The idea is to generalize this even further, to be utterly unopinionated about what and how things are deployed, turning all parachains, aka rollups, into an application layer service, with Polkadot transforming into something akin to cloud service infrastructure.”
Following the announcement, the upgrade retained the usage of Polkadot’s DOT token. As a result, the value of DOT experienced some recovery, with a approximately 3% increase in price.
Read More
Sorry. No data so far.
2024-04-20 10:12