Polkadot’s founder, Gavin Wood, envisions a cutting-edge decentralized system that can support smart contracts through a secure model for the future of parachains.
Polkadot has always been a vibrant hub, offering a menu that caters to a wide range of preferences – from simplified Web3 experiences to real-world asset (RWA) tokenization platforms.
Despite this, the blockchain ecosystem still grapples with challenges such as high costs and complexity in creating parachains, limited interaction between parachains despite existing communication protocols, and auction-based parachain slot acquisitions that are both expensive and time-constrained.
The Polkadot community was thrilled when the next steps for the ecosystem were revealed in a technical paper (dubbed the JAM Gray Paper) during the Token2049 conference in April 2024.
Penned by Polkadot founder Gavin Wood, the Gray Paper represents a significant leap forward, introducing JAM, or Join-Accumulate Machine, as a potential future direction for the current Relay Chain protocol, positioning Polkadot as the operating system of the blockchain space where any and all applications can thrive.
The future of parachains
Polkadot’s on-chain processing involves each parachain – parallel chains available for rent to other projects – carrying out computations independently and submitting results to the Relay Chain for validation. The Relay Chain acts as a foundational layer where parachains and decentralized applications (DApps) connect and communicate, ensuring security and transaction finality to make parachains interoperable.
On the other hand, JAM introduces a hybrid approach that combines the strengths of Polkadot and Ethereum into a unified platform. The introduction of the Gray Paper states: “We present a comprehensive and formal definition of Jam, a protocol combining elements of both Polkadot and Ethereum.”
The primary goals of the JAM upgrade are to maintain operational integrity and support Turing-complete computations. Wood’s technical details aim to enhance efficiency while minimizing operational costs. By enhancing coherency and accessibility, JAM seeks to increase interoperability and create a user-friendly platform for both users and developers.
Transactionless operations
While Polkadot relies on transaction processing, where each transaction is validated and included in blocks by validators, JAM operates without traditional transactions. Instead, all actions are permissionless and go through a Refine stage. Adding a new service on-chain involves specifying Refine, Accumulate, and onTransfer entry points. Work packages and inputs are accepted during the Refine stage, with the output integrated into the chain state by the Accumulate function.
JAM allows for deploying and executing code for a fee based on computational resources used, similar to Ethereum’s gas system, distinguishing itself from other smart chains by operating without transactions.
DOT remains a primary currency within the JAM framework, used for paying fees, participating in governance and staking, and powering the ecosystem.
Released a decade after the Ethereum Yellow Paper, Gavin Wood’s Gray Paper introduces a new vision and direction for the future of parachains. Still in the research phase, the new framework offers the community and developers a pay-as-you-go model to access Polkadot, potentially transforming one of the most populous blockchain ecosystems into a supercomputer where anyone can build and run applications.
Take a look at the JAM Gray Paper.
Gavin Wood unveils JAM as Polkadots innovative hybrid transactionless blockchain design