Polkadot Community Approves HOUR Upgrade, DOT Prices Prepare To Fly
JAKARTA - Good news comes for users and developers on the Polkadot network. The Polkadot community has just approved the implementation of the Joint Accumulation Machine (JAM), a significant improvement that is believed to have a positive impact on the future of the blockchain network.
Gavin Wood, founder of Ethereum and creators of Polkadot and Kusama, called JAM an important milestone in Polkadot's evolution. This improvement is not only predicted to increase network efficiency, but also present a number of new, better functions.
The JAM approval process cannot be separated from the spirit of decentralization and collaboration that characterizes Polkadot. Communities are actively involved in various stages, ranging from submitting proposals, public discussion, to voting. Through this process, stakeholders can evaluate the potential benefits and risks that accompany the implementation of JAM.
Positive acceptance of JAM is proof of community confidence in this increased plan. Once approved, the use of JAM will continue to be monitored to ensure its performance runs as expected and provides tangible benefits for Polkadot network users.
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Remember the JAM Gray Paper that Gavin Wood launched in Dubai last April? The Gray Paper, which was released 10 years after the Yellow Paper, introduced JAM as an innovation aimed at replacing Relay Chain with a more modular and minimalist design.
JAM presents a "global singleton missionless object environment", a concept similar to the smart contract environment on Ethereum. Not only that, JAM also offers a "secure sideband computing parallelized over a scalable node network" - a concept pioneered by Polkadot, a major player in the realm of blockchain interoperability.
One of JAM's main advantages is the ease of integration for developers who are used to using Substrate for the development and application of blockchain. This is possible thanks to the presence of parachains service specifically designed to support existing Substrate-based parachains.
In addition, JAM will only use DOT, so it does not require the issuance of new tokens. This decision aims to facilitate interaction in the protocol while utilizing the existing Polkadot infrastructure.
Realizing the importance of support from various client implementations in the decentralization protocol, Polkadot also introduced Jam Implementer's Prize. The prize program of 10 million DOTs is intended to encourage the creation of JAM implementations in various programming languages. The hope is that this program can strengthen the foundations of the Polkadot ecosystem as a whole.