Gavin Wood, Polkadot’s founder, introduced the Gray Paper outlining the upcoming Join-Accumulate Machine (JAM) upgrade for the network. This announcement was made during Wood’s presentation on Polkadot’s future at the Token2049 crypto conference in Dubai.
Web3 Foundation, the entity behind Polkadot, further announced a 10 Million DOT prize pool to foster diversity within the development of the JAM protocol.
According to the firm:
“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.”
What is JAM?
JAM is a decentralized hybrid system designed to offer secure and scalable smart contract functionalities. It combines certain features from Ethereum within Polkadot’s architectural framework.
Polkadot said:
“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 desig
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