⭐️ Polkadot (DOT) approves a $65 million fund for developing the JAM architecture
Polkadot has allocated a $65 million fund for the development of the Join-Accumulate Machine (JAM) architecture, with the goal of enhancing blockchain scalability and flexibility.
The fund, comprising a reward pool of 10 million DOT tokens, aims to improve data management and network interoperability inside the DOT network.
JAM tackles performance challenges arising from sharding, a process that decreases coherency and poses difficulties in constructing metasystems across particular chains.
The program aims to establish a decentralized network with the ability to handle various computational jobs, promote innovation, and grow the Polkadot ecosystem.
Participants are required to fulfill certain conditions, including engaging in the import and production of blocks, achieving performance benchmarks on Kusama and Polkadot, and successfully passing security assessments.
The community's vote demonstrates a willingness to embrace decentralized innovation, while the specific timing for the upgrade is yet uncertain.
This effort by the Web3 Foundation, which backs Polkadot and its canary network Kusama, aims to foster community-driven growth. Although the market is now experiencing a downward trend, there are indications that Polkadot's price may soon reverse and start moving upwards.
The Moving Average Convergence Divergence (MACD) indicates a bearish trend, implying a potential decrease in prices in the near future.
Polkadot's commitment to innovation and scalability is evident in the approval of the $65 million JAM fund. This development fund and prize pool are aimed at driving breakthroughs in data management and interoperability within Polkadot's ecosystem.
Yesterday, analyst reported that Polkadot (DOT) is facing a bearish outlook due to technical indicators and a downtrend after token has dipped below the Ichimoku Cloud, signaling a clear downtrend.
