🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Polkadot Founder Releases JAM Graypaper To Revolutionize Web3’s Future

Published 02/05/2024, 09:44
Updated 02/05/2024, 09:45
Polkadot Founder Releases JAM Graypaper To Revolutionize Web3’s Future

Coin Edition -

  • Michael van de Poppe acknowledges Polkadot as a promising Layer 1 Blockchain outside Ethereum.
  • Polkadot Founder Gavin Wood recently released JAM Graypaper, introducing the next generation of Polkadot.
  • JAM intends to bring Polkadot’s capabilities beyond the existing limitations of Web3.

Prominent crypto analyst Michael van de Poppe acknowledged Polkadot as a “promising Layer 1 Blockchain outside of Ethereum.” In his recent X post, van de Poppe shared insights on Polkadot’s journey from 2016, when Founder Gavin Wood released the Polkadot Whitepaper, till 2024, when he released the JAM Graypaper.

At Token 2048 Dubai, Gavin Wood shed light on the next generation of Polkadot that envisions revolutionizing the future of Web3. As per an official post released by Polkadot, the network aims to “provide the speed, scale, full decentralization, and ease of use needed to drive forward deep innovation across not just Web3, but the entire tech landscape.”

The principal part of the development is JAM, Polkadot chain’s new version, which intends to expand the network’s capabilities beyond Web3’s limitations. In addition, JAM is expected to bring groundbreaking scalability to the network.

Providing more insights into the matter, Wood released a technical Graypaper. In the JAM Graypaper, Wood introduced the basic concept of JAM, stating

“We present a comprehensive and formal definition of JAM, a protocol combining elements of both Polkadot and Ethereum. In a single coherent model, Jam provides a global singleton permissionless object environment…paired with secure sideband computation parallelized over a scalable node network, a proposition pioneered by Polkadot.”

Meanwhile, Polkadot (DOT) has managed to escape the bearish track, showing a notable surge of 6.12% in the last 24 hours. However, DOT, currently trading at $6.88, has marked a significant decline of 21% in one month and a marginal decline of 1.04% in one week.

The post Polkadot Founder Releases JAM Graypaper To Revolutionize Web3’s Future appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.