Polkadot, created by Gavin Wood, has faced challenges in building an active user base for decentralized applications (dApps). Compared to platforms like Ethereum, Solana, and Avalanche, Polkadot has lagged behind. One of the reasons for this struggle is its complex ecosystem, which can be intimidating for developers looking to get started. The Layer 0 architecture, parachains, and the costs associated with securing parachain slots have all posed obstacles to the network’s growth.
To address these challenges, Gavin Wood is focusing on developing the JAM Chain, the next iteration of the Polkadot protocol. The JAM upgrade aims to enhance the utility of the DOT token and expand the capabilities of decentralized networks. Unlike the current state of Polkadot, where smart contracts must be deployed on parachains, JAM will allow developers to deploy smart contracts directly on Polkadot’s Layer 0. This change is expected to simplify the development process and attract more users to the platform.
JAM Chain is built on the RISC-V Polkadot Virtual Machine (PVM) and will support the creation of decentralized autonomous organizations (DAOs) and wallets without the need for centralized intermediaries. With a target throughput of 850MB/s, JAM surpasses the capabilities of Ethereum 2.0 and Solana. Additionally, DOT tokens will gain new utility as deposits to increase data, code, and state capacity in services, providing economic incentives for developers and users.
Gavin Wood mentioned that the gray paper for JAM Chain is currently in development, at version 0.3.4, with a goal of reaching version 1.0 by next summer. However, he emphasized that software and protocol development are inherently uncertain, indicating that the timeline is more of a target than a fixed deadline. As JAM Chain is rolled out, it is expected to introduce permissionless code execution, eliminating the need for governance approval or parachain leasing.
With the implementation of JAM Chain, Polkadot is poised to facilitate the development of self-sovereign DAOs and wallets, creating opportunities for decentralized finance, governance, and identity management. The direct deployment of smart contracts on Polkadot’s core layer, along with enhanced throughput and economic incentives for users, signals a significant shift in the platform’s capabilities.
Overall, Gavin Wood’s vision for JAM Chain represents a significant advancement for Polkadot, addressing key challenges and paving the way for a more user-friendly and versatile decentralized network. As development progresses and JAM Chain is fully realized, it is expected to position Polkadot as a leading player in the decentralized finance and governance space.