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Speaking at Token2024 in Dubai, blockchain veteran Gavin Wood unveiled plans for a new protocol called JAM Chain built atop Ethereum and Polkadot principles.&nbsp; 
Wood is a blockchain developer with a decade of experience who is credited with co-founding multiple major decentralized networks, including Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>), Polkadot (<a href="https://crypto.news/price/polkadot/" target="_blank" rel="">DOT</a>), and Kusama (<a href="https://crypto.news/price/kusama/" target="_blank" rel="">KSM</a>).&nbsp; 
The University of York alumni is also particularly known as the original author of Ethereum’s Yellow Paper, the formal definition of crypto’s second-largest blockchain after Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>). 
<h2 class="wp-block-heading" id="gavin-wood-polkadot-jam-chain-is-a-protocol-not-software">Gavin Wood: Polkadot JAM chain is a protocol, not software</h2> 
Gavin Wood’s presentation at the Token2024 blockchain conference in Dubai introduced the Joint-Accumulate Machine or JAM&nbsp;chain as a protocol first and foremost rather than software. According to the Polkadot co-creator, JAM is designed to be faster and more decentralized in architecture and development expertise.&nbsp; 
<blockquote class="wp-block-quote"> 
 “JAM is permissionless in nature, allowing anyone to deploy code as a service on it for a fee commensurate with the resources this code utilizes and to induce execution of this code through the procurement and allocation of core-time, a metric of resilient and ubiquitous computation, somewhat similar to the purchasing of gas in Ethereum. We already envision a Polkadot-compatible CoreChains service.” <cite>JAM Gray Paper</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/token2049-crypto-experts-highlight-ethereum-blockchain-problems/" rel=""> Token2049: Crypto experts highlight Ethereum blockchain problems </a> 
Wood explained that Polkadot’s JAM Chain will deliver smart contract functionality through a decentralized hybrid system. Wood’s thesis revealed similarities with <a href="https://crypto.news/glossary/ethereum-virtual-machine-evm/" target="_blank" rel="">Ethereum’s EVM</a> but pivoted to a new PMB paradigm driven by Polkadot’s underlying infrastructure.&nbsp; 
Wood implored interested participants and contributors to study JAM’s <a href="https://graypaper.com/" target="_blank" rel="">Gray Paper</a>. 
Furthermore, the Polkadot co-creator pointed to the JAM prize initiative backed by the <a href="https://crypto.news/polkadots-web3-foundation-to-put-1m-in-u-s-tokenized-treasury-bills-dot-jumps-6/" target="_blank" rel="">Web3 Foundation</a> to incentivize interactions. The fund will reward developers across various tiers of JAM implementations.&nbsp; Builders will also have access to a full-scale replica of the chain called the JAM toaster, which is built to help with debugging and optimization.&nbsp; 
Wood said the Polkadot Fellowship, the technical body in charge of Polkadot upgrades, will finalize all tooling and software specifications needed to run the JAM chain once a proposal is published in the coming months. 
 Read more: <a href="https://crypto.news/token2049-panelists-discuss-meme-coins-role-in-crypto-industry-development/" rel=""> Token2049 panelists discuss meme coins’ role in crypto industry development </a>

Polkadot’s Gavin Wood introduces new JAM chain graypaper at Token2049

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