Co-founder and creator Gavin Wood joined Bullish CEO Tom Farley on CoinDesk Spotlight to discuss the latest developments in the Polkadot protocol.
Gavin Wood discussed his current focus, which is primarily on developing the next iteration of the Polkadot protocol, known as the JAM Chain.
He further explains that this new protocol is built on the foundations of Polkadot and Ethereum, incorporating new ideas to create a more generalized environment that is not strictly a smart contract chain, but retains the ability to secure blockchains as Polkadot does.
Wood elaborated on the capabilities of JAM Chain, explaining that while it shares some similarities with smart contract environments, it is designed to do much more, utilizing Polkadot’s underlying cryptoeconomic mechanisms to perform a broader range of tasks.
Tom Farley attempted to simplify the concept by asking whether JAM Chain could be considered a Layer 2 or a Layer 1.5 on Polkadot.
Gavin Wood clarified that the concept of layers becomes complex when talking about Polkadot, which is often referred to as a layer-0 blockchain because it protects other blockchains. He explained that if Polkadot is considered layer-1, then JAM could be considered as a blockchain that sits beneath it and hosts services that protect these blockchains.
Wood suggested that JAM could host more than just blockchains, offering a general-purpose environment that could be classified as Layer 1, with services running on JAM considered Layer 1.5. In this context, blockchains secured by JAM could be considered Layer 2.
The Polkadot creator mentioned that the grey paper for JAM Chain is still in development, currently at version 0.3.4, with the goal of reaching version 1.0 by next summer. However, he cautioned that software and protocol development are inherently uncertain, so this timeline is more of a goal than a fixed deadline.
Wood explained that the future success of layer-1 blockchains will depend more on their communities and service offerings than on small technological advancements. He stressed that Polkadot was designed to stand out by pushing the boundaries of what is possible, not just being a slightly better version of existing platforms.
With JAM Chain, Gavin Wood wants to go beyond the usual smart contract model by using Polkadot technology. He imagines a platform where developers can run regular software on a blockchain, gaining the security and trust of the blockchain without the typical limitations of smart contracts.
As the conversation continued, Wood delved deeper into the direction the blockchain industry appears to be headed, noting that too many projects are focused on quick wins rather than building something that will remain relevant in the future. He believes that hype often takes precedence over substance, with people rushing to create and sell projects, only to have them passed around without much real value.
Finally, when asked about his relationship with Vitalik Buterin, Wood explained that there was “no bad blood” between them despite their competitive positions in the blockchain space. While acknowledging that there will always be some competition, Wood calls for collaboration and mutual respect between the Ethereum and Polkadot ecosystems.
