Web3 Summit 2025, a large section on JAM, and new ideas for "zkJAM"
Web3 Summit will be held in Berlin from July 16-18
@gavofyork gave a speech on @Polkadot: The Road Ahead
Below, let's take a look at the following topics:
-JAM Delivery: Focuses on the delivery of JAM, possibly a product or technology. -JAM Governance: Discusses the governance structure of JAM. -ZK R&D: Related to research and development of zero-knowledge technology. -Fiscal Discipline: Ensuring financial sustainability and management.
-Privacy Protection: Emphasizes the importance of protecting user privacy in the technology ecosystem. -Popularizing Web3 Po(P)/P: Privacy and protocol issues related to Web3. -Web3 Oracle Services: Expanding oracle services for Web3. -Web3 Outposts: Establishing decentralized nodes or sites for Web3. -Stablecoins: The development or regulation of stablecoins.
Summary of core points, see the slides for details:
-JAM Delivery
1) Version 0.7.1 is coming soon: The new version 0.7.1 is under development and is expected to be completed in August.
2) Audits are expected to begin this year: System or security audits are expected to begin this year.
3) JAM basic SDK has been released: The basic development kit (SDK) for JAM has been released.
-JAM Governance
1) The Gray Paper Editorial Board (GPEB) will be established immediately: Gavin plans to establish an editorial board for the Gray Paper.
2) The GPEB will meet regularly to discuss the direction and priorities of the protocol: The editorial board will meet regularly to discuss the future direction and priorities of the protocol.
3) The GPEB will be composed of the most capable and useful people: The editorial board members will be composed of the most technically capable and valuable people.
4) The relationship between Polkadot governance and JAM: Polkadot's governance will determine whether its underlying protocol is based on the JAM version.
5) Other networks can also adopt JAM: Other networks can also decide whether to use JAM, and if Polkadot does not agree with this direction, it can choose to migrate to other protocols.
6) As long as Polkadot is based on JAM, I expect Polkadot to contribute to the maintenance of JAM: As long as Polkadot is based on JAM, I expect Polkadot to contribute to the ongoing maintenance of JAM.
-zkJAM
1) Based on hardware, the cost is 4,126.000 times higher than traditional methods: Using zero-knowledge proofs to generate correctness increases hardware costs by 4,126.000 times compared to traditional Elves methods.
2) Empirical research on the feasibility of zkJAM
3) The cost of zk is decreasing, but is still 10-100 times higher than Elves, possibly more, considering the lack of settlement/storage/finality.
4) (Short-term strategy) Develop a JAM zk service framework based on STARK (avoiding the Groth16 SNARK stage).
5) (Short-term strategy) Focus on storage proofs because PVM computes quickly.
6) (Mid-term strategy) Cooperate, support, and develop well-optimized proof generation tools (because the most advanced technology is closed source). Pay special attention to PVM execution proofs, distributed proof generation, and a modular open system that can keep up with the most advanced technology.
7) (Long-term strategy) Develop JAM into multiple security, providing good security levels with Elves/PopJAM and maintaining the lowest marginal cost, while zkPopJAM provides "ultimate" security but with linearly increasing costs. Settle/JAM via recursive zk-proofs to ensure proof correctness.
-Security
1) Polkadot, spending approximately $500.000M annually on security, far exceeding core time sales revenue.
2) It is difficult to estimate how much remains in the economy, but we know that many stakers are forced to liquidate in high-tax jurisdictions.
3) Long-term major structural deficits are generally unacceptable.
4) Reduce spending, initially from $500.000M to $90.000M, removing nominal confiscation.
Increase the verification threshold, OpenGov KYC/interviews, anonymous self-pledgers.
Fixed fiat currency rewards to validators (e.g., $5.000k per month), fixed flat rewards to stakers (e.g., 3.000% when staking $1.000M), OpenGov can set.
5) Imagine setting a maximum total of π x 1,000,000,000 for Polkadot in the JAM genesis block (imagined discussion stage), with a decaying issuance curve, gradually decreasing biennially.
-Decentralized stablecoins and other discussions, see the slides for details.
Slide address: https://t.co/GrqoMUElNE

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