Gavin Wood, the creator of the Polkadot network, has revealed a new proposal called “Gray Paper” detailing the upcoming Join-Accumulate Machine (JAM) update for Polkadot. He shared this information during his talk about Polkadot’s future at the Token2049 cryptocurrency conference in Dubai.
To motivate a wide range of developments for the JAM protocol, Wood announced the JAM Implementer’s Prize with a reward pool of ten million DOT.
Polkadot Unveils JAM Upgrade
The announcement states that the objective of the JAM upgrade in Polkadot is to swap out the current relay chain, serving as the primary data carrier within the Polkadot network, for a more flexible and streamlined design. This modification will enable Polkadot to support diverse services and enhance its overall stability.
Within JAM, the parachains feature will allow existing Substrate-based parachains to function, allowing developers to carry on utilizing Substrate for creating and launching their blockchains.
Significantly, these services offer unlimited capacity for code, data, and state, allowing for the addition of more DOT deposits to boost capabilities.
An enhancement in JAM‘s design involves swapping out WebAssembly with the Polkadot Virtual Machine, which is built using RISC-V ISA – an openly available instruction set architecture for creating unique processors.
Additionally, it presents SAFROLE, an improved block production method based on SNARK technology. This modification is said to enhance the efficiency and capacity of the Polkadot network.
On The Path To Decentralization?
To achieve the goal of a “completely decentralized protocol,” Polkadot intends to allow for several different client versions. Additionally, the JAM Implementer Incentive Program has been introduced to encourage and finance projects working towards creating more JAM implementation options. The statement continues:
By fostering multiple implementations of our protocol in diverse programming languages, we can bolster the ecosystem’s base. This approach broadens the influence of protocol developers and lessens the chance of a single bug in an implementation causing catastrophic damage to the whole network.
The JAM Implementer’s Prize will work together with current and upcoming financial programs that strengthen the Polkadot community and its technological foundation. Such programs encompass Decentralized Futures, Grants, and Polkadot’s built-in treasury on the blockchain.
The award will become active once JAM gets approved as a Polkadot technology through the network’s governance process that takes place on-chain.
In simpler terms, Gavin Wood’s introduction of JAM upgrade and the reward of 10 Million DOT is Polkadot’s strategy to boost the usage and acceptance of their protocol. The modular structure and incentives for multiple implementation of JAM are believed to further the ongoing decentralization process of Polkadot network.
During the progression of JAM‘s development, the Polkadot community encourages prospective teams to submit proposals for integrating it into different programming languages.
In spite of the latest news, Polkadot’s native token, DOT, has failed to halt its slump from the previous month. At present, it is priced at $6.75, representing a substantial 24% drop in value over the last 30 days.
Read More
- CORE PREDICTION. CORE cryptocurrency
- Top gainers and losers
- SYS PREDICTION. SYS cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CFG PREDICTION. CFG cryptocurrency
- Best coins for today
- DOGE PREDICTION. DOGE cryptocurrency
- THOR PREDICTION. THOR cryptocurrency
- STFX PREDICTION. STFX cryptocurrency
2024-04-20 07:16