Web3 Foundation offers $65 million DOT prize pool for deploying Polkadot JAM upgrade

The Web3 Foundation has launched a 10 million DOT token bounty (about $65 million) to support the deployment of the Join-Accumulate Machine (JAM) upgrade to the Polkadot ecosystem. On May 27, Polkadot founder Gavin Wood revealed that the community almost unanimously approved the upgrade proposal. The Foundation said that its initiative aims to promote innovation and enhance the Polkadot ecosystem through various JAM protocol implementations, thereby improving the resilience of the network. The 10 million DOT award encourages the creation of JAM implementations in various programming languages, including OCaml, Go, and Zig. Eligible participants must reach specific milestones, such as importing and producing blocks, meet performance standards on Kusama and Polkadot, and pass security audits. The program aims to ensure the development of a decentralized network capable of handling a variety of computing tasks. The Foundation said that JAM provides a general environment to ensure L2 scalability without relying on rollup solutions and meet the diverse needs of any application. It added that the strong community support for JAM demonstrates a willingness to embrace decentralized innovation while maintaining high standards. While the timeline for the upgrade is currently unclear, its implementation will be carried out through five steps, including importation, authoring, speed checks, and security audits. (CryptoSlate)