Polkadot Unveils Major Upgrade Plan: Relay Chain Replacement And 10M DOT Prize Incentive
Summary
Gavin Wood unveiled the JAM upgrade for Polkadot at Token2049 conference. JAM aims to replace relay chain with a modular design for generic services and increased stability. It supports Substrate-based parachains, with no predefined limits on capacity. Technical improvements include a new virtual machine and a SNARK-based block production algorithm. Polkadot aims for decentralization and offers a 10 Million DOT prize for JAM implementation. The upgrade reflects efforts to increase adoption and decentralize the network. Despite this, DOT token has seen a 24% decline in the last 30 days, trading at $6.75.
