TL;DR

Polkadot introduced the Join-Accumulate Machine (JAM) protocol that merges features of Polkadot and Ethereum, aiming to improve blockchain efficiency and scalability, with governance pending community approval.
Noteworthy developments for the protocol include an upgrade to the Acala Network and discussions about a potential $8.8 million sponsorship deal with Inter Miami CF.

Polkadot’s Progress as of Late

The blockchain protocol – Polkadot (DOT) – captured the attention of industry participants lately due to several developments that took place or might occur in the near future.

Perhaps the most important advancement is the release of the Join-Accumulate Machine (JAM) Gray Paper: a protocol that combines elements of Polkadot and Ethereum. 

“JAM provides a global singleton permissionless object environment—much like the smart-contract environment pioneered by Ethereum—paired with secure sideband computation parallelized over a scalable node network, a proposition pioneered by Polkadot.” the team explained

The protocol will also include a service that supports existing parachains, enabling developers to continue employing Substrate for blockchain deployment. “The only way to interact with JAM will be with DOT; no new token will be issued,” the announcement reads. 

It is important to note that the community must approve JAM via Polkadot’s on-chain, decentralized governance. 

What About the Parachains?

Some of the top Polkadot parachains have also witnessed notable developments. Acala Network recently announced the Sinai Upgrade: an advancement designed to enhance the platform’s position as a liquidity layer in the Web3 space. The upgrade consists of three routes: liquidity track, infrastructure track, and aSEED track.

Earlier this month, all parachains stopped producing blocks for approximately one hour following Polkadot’s runtime upgrade. The team behind Moonbeam Network (one of the leading parachains) revealed on April 21 that block production was resumed and that the network’s functions were back to normal.

Polkadot’s Possible Mega Collaboration

Nearly a week ago, Nico Zini – Partnership Marketing and Media Rights for Inter Miami CF – revealed that the American football team may shake hands with Polkadot on an $8.8 million sponsorship deal. For the uninitiated ones, the club’s co-owner is the English football icon David Beckham, while its biggest star is the Argentine legend, Lionel Messi.

This is not Polkadot’s first attempt to enter the sports world. In 2022, it aimed to become FC Barcelona’s official jersey sponsor. The Catalan club, though, chose Spotify over the blockchain protocol.

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The post Polkadot’s Latest Advancements: Ecosystem Weekly Recap appeared first on CryptoPotato.

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Filed under: Bitcoin - @ April 23, 2024 9:02 pm