Web3 Foundation launches $65 million prize pool for Polkadot JAM upgrade

The Web3 Foundation has launched a prize excavation of 10 cardinal DOT tokens, equivalent to astir $65 million, to enactment the implementation of the highly anticipated Join-Accumulate Machine (JAM) upgrade to the Polkadot’s ecosystem.

On May 27, Polkadot’s founder, Gavin Wood, revealed that the project’s assemblage had ratified the projected upgrade with a near-unanimous governance vote.

JAM Implementers’ Prize

The Foundation said its inaugural aims to foster innovation and heighten the Polkadot ecosystem done divers implementations of the JAM protocol, thereby expanding the web resilience.

The prize encourages the instauration of JAM implementations successful assorted programming languages, including OCaml, Go, and Zig.

To qualify, participants indispensable conscionable circumstantial milestones specified arsenic importing and producing blocks, achieving show standards connected Kusama and Polkadot, and passing information audits.

The inaugural is designed to guarantee the improvement of a decentralized web susceptible of handling assorted computational tasks.

Web3 Foundation said:

“JAM is an evolutionary, minimalist blockchain protocol designed to heighten information absorption and interoperability wrong the network. It volition guarantee that Polkadot continues to supply the starring modular erstwhile it comes to the security, flexibility, and scalability of blockspace.”

Furthermore, the upgrade introduces revolutionary scalability to the statement layer, antecedently achievable lone done rollups. This innovation removes the request for developers to take betwixt appchains and astute contracts.

The instauration said that JAM provides a versatile situation for ensuring Layer 2 (L2) scalability without relying connected roll-up solutions and gathering the divers needs of immoderate application. It added that the beardown assemblage enactment for JAM indicates a readiness to clasp decentralized innovation portion maintaining precocious standards.

Although the timeline for the upgrade is presently unknown, the implementation volition proceed done 5 steps, including importation, authoring, velocity checks, and information audits.

The station Web3 Foundation launches $65 cardinal prize excavation for Polkadot JAM upgrade appeared archetypal connected CryptoSlate.