At Token2049, Gavin Wood unveils novel graypaper for JAM chain.
During his speech at the Token2024 conference in Dubai, blockchain expert Gavin Wood unveiled his plans for a new protocol called JAM Chain. This protocol is built using the principles of Ethereum and Polkadot, two major decentralized networks that Wood co-founded. Wood, who has a decade of experience in the blockchain industry, is well-known for his contributions to Ethereum, particularly as the original author of the Yellow Paper that defines the blockchain’s structure.
Wood emphasized that JAM Chain should be seen as a protocol rather than software. He highlighted that the protocol is designed to be faster and more decentralized, both in terms of its architecture and development expertise. JAM Chain aims to deliver smart contract functionality through a decentralized hybrid system, drawing inspiration from Ethereum’s EVM but adopting a new paradigm driven by Polkadot’s underlying infrastructure.
Wood encouraged interested individuals to read JAM’s Gray Paper and highlighted the JAM prize initiative, supported by the Web3 Foundation, which aims to incentivize interactions within the JAM ecosystem. Developers working on JAM implementations will have the opportunity to receive rewards across different tiers. Additionally, a full-scale replica of the chain, called the JAM toaster, has been developed to assist with debugging and optimization.
Wood also mentioned that the Polkadot Fellowship, responsible for upgrading the Polkadot network, will finalize the necessary tooling and software specifications for running the JAM chain once a proposal is published in the coming months.
In conclusion, Gavin Wood’s presentation at Token2024 provided insights into the JAM Chain protocol, which aims to combine the strengths of Ethereum and Polkadot to create a faster and more decentralized system for smart contracts.
