Summary
TLDR: Polkadot co-founder Gavin Wood introduced the JAM protocol, a major revision that would replace Polkadot’s Relay Chain with a more modular design. JAM will allow Polkadot to run generic services and incorporate a parachains service. The Web3 Foundation also announced the JAM Implementer’s Prize to foster diversity in the development of the protocol. Polimec revealed the first wave of projects raising funds on their decentralized funding platform.
Key Points
1. Polkadot co-founder Gavin Wood introduced a graypaper outlining the Join-Accumulate Machine (JAM), which proposes a major revision to Polkadot’s Relay Chain with a more modular, minimalistic design.
2. JAM will allow Polkadot to run generic “services” and incorporate a parachains service that can run existing parachains built on the Substrate blockchain framework.
3. The Web3 Foundation announced the JAM Implementer’s Prize, a 10 million DOT prize pool aimed at fostering diversity in the development of the JAM protocol.