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Polkadot’s Decoded 2024: Gavin Wood Unveils JAM Protocol for Better Blockchain Scalability
- Gavin Wood presents the JAM protocol at Polkadot Decoded 2024.
- Wood stressed the importance of distinguishing between human users and automated systems.
At the recently concluded Polkadot Decoded 2024 event, Polkadot founder Gavin Wood revealed the JAM protocol. JAM, which stands for Join-Accumulate Machine, is designed to address scalability and interoperability challenges in blockchain systems.
The protocol, first introduced at Decoded last year, promises to improve compatibility between smart contracts across chains. By switching to the Polkadot Virtual Machine (PVM), JAM is expected to reach a throughput of around a trillion EVM gas per second.
This protocol solves some of the challenges that blockchain systems face today by improving the interoperability of smart contracts. through different chains. It also introduces the Polkadot Virtual Machine (PVM), which is expected to provide a processing capacity of “about a trillion EVM gases per second.”
Wood also revealed that the Web3 Foundation would be launching a JAM developer program to support development. The program will provide 10 million DOT to teams developing production-ready JAM implementations in multiple languages.
Wood Tackles the Challenges of Digital Individuality
Wood also focused on the Sybil attack problem in his presentation, which is preventing a single entity from creating multiple fake identities. He emphasized that this idea is crucial in blockchain and explained how it affects game theory and the system.
Blockchain systems are based on game theory and we often have to limit the number of players or manage their plurality
Wood explained.
Wood distinguished between identity and individuality, making it clear that the focus is not on the identification of real-world individuals, but on distinguish between devices managed by humans and automated systems. This difference is important for the proper management and distribution of resources in blockchain networks.
Wood also focused on the distinction between human users and bots as a key element in digital interfaces. This differentiation affects several features of blockchain technology, such as governance and resources. Wood outlined several options for the problem, noting the difficulty of designing a decentralized system that is also Sybil-proof and respects user privacy.
Polkadot Establishes Partnerships to Advance Blockchain Technology
As outlined in our recent blog postPolkadot recently partnered with the University of Buenos Aires (UBA) and Archisinal, a real-time Web3 data platform. These partnerships aim to improve the application of blockchain technology and develop innovative learning experiences.
The collaboration with UBA was established by the Polkadot Foundation and aims to explore the potential of blockchain solutions within the university’s Artificial Intelligence Laboratory (IALAB). This partnership focuses on creating new blockchain technologies in the university environment to enhance learning and research.
At the time of writing, Polkadot (DOT) is trading at $5.85, reflecting a 2.36% increase over the past 24 hours and a 3% increase over the past seven days. DOT has a market cap of $8.41 billion and a 24-hour trading volume of $149.8 million, with its trading volume down 6.8%. The all-time high for DOT remains $56.21.
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