The objective of this upgrade is to completely alter the trajectory of Polkadot moving forward.
JAM, a decentralized hybrid system that combines elements from Ethereum and Polkadot, was unveiled by Polkadot co-founder Gavin Wood on Thursday. The purpose of this proposal is to entirely transform the future of Polkadot.
During the Token2049 crypto conference in Dubai, Wood presented the JAM Gray Paper and provided insights into the groundbreaking technology that merges components from Polkadot and Ethereum. This upgrade will replace the current Relay Chain with a newer, more modular, and less cluttered version.
The Relay Chain, which was initially designed to be compatible with other systems like PARSIQ, will be superseded by a simpler and more modular architecture with the launch of JAM. Polkadot is establishing the foundation for a future where this upgraded architecture takes precedence.
Wood emphasized that the release of the Jam Gray Paper occurred 10 years after his Yellow Paper, as mentioned in his X post. The Web3.0 Foundation, the team behind Polkadot, also announced a prize fund of 10 million DOT to encourage a wider range of perspectives while working on the JAM protocol.
According to the blueprint, JAM is a decentralized hybrid system that combines elements from Ethereum and Polkadot, offering users scalable and secure smart contract capabilities.
JAM incorporates a permissionless object environment for global singletons, similar to Ethereum’s smart contract ecosystem. Additionally, Polkadot, known for its interoperability capabilities, introduced the concept of a scalable node network that parallelizes secure sideband computing.
One of JAM’s notable features is its compatibility with Substrate, making it an ideal choice for developers who are already familiar with the platform for blockchain projects. Existing Substrate-based parachains can leverage this crucial functionality through parachain services.
Key Crypto News Today:
JPMorgan CEO Jamie Dimon Continues to Criticize Bitcoin
share
