2024

Polkadot

Million

Foundation

The founder of the blockchain platform Polkadot, Gavin Wood, introduces the Join-Accumulate Machine (JAM) upgrade at Token2049, while the Web3 Foundation <a href="https://medium.com/web3foundation/announcing-the-jam-implementers-prize-e79f8ebc506d" target="_blank" rel="noreferrer noopener" data-wpel-link="external">announces</a> a 10 Million DOT prize pool for JAM protocol development diversity. 
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 Earlier today <a href="https://twitter.com/gavofyork?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">@gavofyork</a> 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 <a href="https://t.co/3kTGVFBOJA" target="_blank" data-wpel-link="external">https://t.co/3kTGVFBOJA</a> <a href="https://t.co/NtOuF1KHua" target="_blank" data-wpel-link="external">pic.twitter.com/NtOuF1KHua</a>— Polkadot (@Polkadot) <a href="https://twitter.com/Polkadot/status/1780917308828876948?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 18, 2024</a>
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According to Polkadot, “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.” 
JAM is a decentralized system blending Ethereum’s features with Polkadot’s structure for secure and scalable smart contracts. It aims to replace the Relay Chain with a more streamlined design, allowing Polkadot to function as a multi-core world computer. 
Goku, a supporter, praised the upgrade, foreseeing Polkadot evolving into a versatile platform for various services and apps, enhancing scalability and efficiency. 
Despite DOT token’s recent downturn, news of the upgrade pushed it up by 3% to $7 initially, though it’s now at $6.62. However, community approval through Polkadot’s decentralized governance is still pending for the JAM upgrade. 
Polkadot’s JAM upgrade promises a more robust and versatile platform, attracting attention with its innovative approach and potential rewards for developers. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/09/polkadot-makes-sports-history-with-indy-500-sponsorship/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Polkadot Makes Sports History with Indy 500 Sponsorship</a> 
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Polkadot Announces JAM Upgrade and 10 Million DOT Prize Pool

The Crypto Times

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