co-founder and creator Gavin Wood joined Bullish CEO Tom Farley on CoinDesk Highlight to debate the newest developments within the Polkadot protocol.
Gavin Wood mentioned his present focus, which is totally on creating the following iteration of the Polkadot protocol, known as JAM Chain.
He additional explains that this new protocol builds on the foundations of each Polkadot and Ethereum, incorporating new concepts to create a extra generalized surroundings that’s not strictly a smart contract chain however retains the flexibility to safe blockchains like Polkadot does.
Wood elaborated on JAM Chain’s capabilities, explaining that whereas it shares some similarities with smart contract environments, it’s designed to do way more, utilizing Polkadot’s underlying crypto-economic mechanisms to carry out a broader vary of duties.
Tom Farley tried to simplify the idea by asking if JAM Chain may very well be regarded as a Layer 2 or Layer 1.5 on Polkadot.
Gavin Wood clarified that the idea of layers turns into complicated when discussing Polkadot, which is sometimes called a Layer 0 blockchain as a result of it secures different blockchains. He defined that if Polkadot is taken into account Layer 1, then JAM may very well be seen as sitting under it, internet hosting providers that safe these blockchains.
Wood recommended that JAM may host extra than simply blockchains, providing a general-purpose surroundings that may very well be categorised as Layer 1, with providers working on JAM thought of Layer 1.5. On this context, blockchains secured by JAM may very well be thought of Layer 2.
Polkadot creator talked about that the grey paper for JAM Chain continues to be in growth, presently at model 0.3.4, with the aim of reaching model 1.0 by subsequent summer season. Nevertheless, he cautioned that software and protocol growth are inherently unsure, so this timeline is extra of a goal than a hard and fast deadline.
Wood elaborated that the long run success of Layer 1 blockchains will hinge extra on their communities and repair choices than on minor technological developments. He pressured that Polkadot was designed to face out by pushing the boundaries of what is doable, not simply by being a barely higher model of current platforms.
With JAM Chain, Gavin Wood needs to push past the same old smart contract mannequin through the use of Polkadot’s expertise. He imagines a platform the place builders can run regular software on a blockchain, getting the safety and belief of blockchain without the standard smart contract limitations.
Because the dialog continued, Wood delved into the place the blockchain business appears to be heading, mentioning that too many initiatives are centered on fast wins slightly than constructing one thing that can nonetheless matter years down the highway. He feels that hype typically takes precedence over substance, with individuals dashing to create and promote initiatives, solely for them to be handed round without a lot actual worth.
Lastly, when requested about his relationship with Vitalik Buterin, Wood defined that there was no “unhealthy blood” between them regardless of their aggressive positions within the blockchain area. Whereas acknowledging that there’ll at all times be some competitors, Wood calls for collaboration and mutual respect between the Ethereum and Polkadot ecosystems.