7 months ago
23 ARTICLE AD
In recognition of the importance of diverse client implementations in a decentralized protocol, Polkadot introduced the JAM Implementer’s Prize.
Gavin Wood, co-founder of Ethereum and creator of Polkadot and Kusama, unveiled the JAM Gray Paper in Dubai introducing a groundbreaking protocol that merges elements from both Polkadot and Ethereum.
In an X post, JAM stated the unveiling which comes ten years after the Wood’s release of the Yellow paper is an evolution aimed at replacing the existing Relay Chain with a more modular and minimalistic design.
JAM Protocol Streamlining Efficiency and Flexibility
The JAM is unique in that it offers a unified model that combines features from Polkadot and Ethereum. It introduces a global singleton permissionless object environment, reminiscent of Ethereum’s smart contract environment, alongside secure sideband computation parallelized over a scalable node network – a concept pioneered by Polkadot, the interoperability powerhouse.
The Polkadot Relay Chain took care of interoperability across different platforms like PARSIQ, the data, and the automation monitoring network. With JAM, Polkadot offers a prospective path to replace the relay chain with a more modular, minimalistic design.
Earlier today @gavofyork unveiled the JAM Gray Paper.
JAM is a protocol combining elements of both Polkadot and Ethereum. It is a prospective path to replace the Relay Chain with a more modular, minimalistic design.
1/5 https://t.co/3kTGVFBOJA pic.twitter.com/NtOuF1KHua
— Polkadot (@Polkadot) April 18, 2024
One of the key features of JAM is the guaranteed seamless compatibility for developers familiar with using Substrate for blockchain development and deployment. This is enabled by the parachains service that was specifically designed to support existing Substrate-based parachains.
Worthy of note is that JAM operates exclusively with DOT, Polkadot’s native token, thus eliminating the need for the issuance of a new token. This exclusivity simplifies interactions within the protocol while leveraging the existing infrastructure of the Polkadot network.
Polkadot Growth Drive via Community Engagement
In recognition of the importance of diverse client implementations in a decentralized protocol, Polkadot introduced the JAM Implementer’s Prize. The JAM Implementer prize is a 10 million DOT reward pool meant to encourage the creation of implementations in various programming languages to strengthen the ecosystem’s foundation.
The Web3 Foundation in a post expressed excitement at the JAM Implementer’s prize. The post reads:
“The Web3 Foundation is excited to announce the JAM Implementer’s Prize, a 10M DOT prize pool to enhance Polkadot’s ecosystem! We’re looking for developers to diversify and strengthen network resilience through innovative JAM protocol implementations.”
The 10 million DOT reward pool is consistent with Polkadot’s culture of driving innovation. In 2021, Polkadot launched a $770 million development fund burning nearly 19 million DOT in its treasury to support some of the community’s vision.
The proposal for JAM’s implementation requires community approval through Polkadot’s on-chain, decentralized governance system. The proposal, already submitted to the Root track, currently awaits the community’s decision regarding its scope and direction. This is because Polkadot is committed to community-driven development and decision-making.
As JAM emerges on the horizon, it represents a significant step forward in the evolution of decentralized protocols, bridging the strengths of Polkadot and Ethereum to create a more versatile and robust platform for blockchain innovation.
