Polkadot Celebrates Four Years with Historic JAM Upgrade Approval

The Polkadot community recently celebrated its fourth anniversary with a significant milestone: the unanimous approval of the Join-Accumulate Machine (JAM) upgrade. This upgrade, which was ratified with the support of more than 31 million DOT tokens, promises to transform the blockchain structure by integrating secure and scalable smart contract functionality as it combines elements of Ethereum with the unique innovation of Polkadot.

This decentralized hybrid system, known as JAM, is seen as a watershed in the evolution of Polkadot. It replaces the existing Relay Chain with a more modular and minimalist architecture, aligned with current demands for performance and digital security.

The upgrade Graypaper presentation, delivered by Polkadot founder Gavin Wood during the Token2049 conference in April, was a prelude to the decisive governance vote that took place on May 27. At the time, Wood commented: “The community ratified the proposed update with a near-unanimous governance vote, and we are now working to finalize the Graypaper for version 1.0.”

@polkadot community has ratified #JAM as its next major protocol evolution with a near-unanimous governance vote. Work on getting the Graypaper to v1.0 continues. https://t.co/fdo1HyEKG6

— Gavin Wood (@gavofyork) May 27, 2024

While ratification does not imply immediate implementation, it signals the community’s commitment to overseeing and adopting the JAM update under the guidance of the Technical Fellowship.

Additionally, Polkadot has been actively fostering initiatives through its decentralized governance system, OpenGov, approving several proposals to advance the network’s strategic objectives.

At the time of publication, the price of Polkadot (DOT) was quoted at US$7.69 with an increase of 2% in the last 24 hours.

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