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An important person in the world of blockchain, Gavin Wood, made waves at the Token2049 conference in Dubai by revealing plans for a groundbreaking system called JAM Chain. Wood is a co-founder of both Ethereum and Polkadot.
Wood presented the protocol during his talk at Token2024; it is a big step forward in decentralized technology and is based on the ideas behind Ethereum and Polkadot.
Polkadot Pioneer’s Blockchain Revolution
As a blockchain developer with ten years of experience, Wood has made a lot of important advances to the field. He wrote Ethereum’s Yellow Paper, which is a very important text in the world of crypto. Now that JAM Chain is out, Wood wants to change the way blockchains are built and how they are developed by putting an emphasis on speed and freedom.
A decentralized mixed system called JAM Chain, according to Wood, is a new way for smart contracts to work. Similar to Ethereum’s EVM, JAM Chain offers a new way of doing things that is powered by Polkadot’s infrastructure and promises better speed and flexibility.
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. JAM Gray Paper
Wood told the people in the room during his talk that they should read JAM’s Gray Paper to learn more about how the protocol works. He also talked about the JAM prize program, which is backed by the Web3 Foundation and is meant to encourage developers to work together. The program will give coders access to tools like the JAM toaster for debugging and improving their work as a reward across different levels of JAM implementations.
Looking ahead, Wood said that the Polkadot Fellowship, which is in charge of Polkadot updates, will finish figuring out the right tools and software to run the JAM chain. In the next few months, a proposal outlining these specs should be released. This will mark another step forward in the development of this new protocol.
