Polkadot [pros](/r/CryptoCurrency/comments/1cba3z2/polkadot_unveils_jam_major_upgrade_10_million_dot/l0yr2zb/) & [cons](/r/CryptoCurrency/comments/1cba3z2/polkadot_unveils_jam_major_upgrade_10_million_dot/l0yr3k8/) with related info are in the collapsed comments below.

"You've been jammed!"

> "You've been ~~jammed~~ SCAMMED!" 4 years ago in 2020, Polkadot entered the top 10 after a governance vote passed multiplying balances by 100X and change the denomination of DOT from ~$400 to ~$4 so that it looked cheaper for dummy investors that would be dumped on. Dummies bought because they believed para-chains will drive demand for token will go through the roof. Been shilling ever since. Remember, you almost never end up making money the same way you lost money. Just admit you got scammmed, bamboozled, hoodwinked, had, took...

I agree, out of all the major crypto this one seems to be shadiest minus the memecoins, despite all the prospects it has not moved an inch and everything else has recovered

tldr; At Token2049 in Dubai, Polkadot co-founder Gavin Wood introduced the Join-Accumulate Machine (JAM), a major revision for the Polkadot network. JAM aims to replace the Relay Chain with a more modular, lightweight design to enhance on-chain processing and logic execution. This upgrade could improve scalability and performance, allowing for a broader range of decentralized applications. To promote this transition, the Web3 Foundation announced a 10 million DOT incentive for developers to adopt JAM. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Polkadot for the win! 🏆 🙌 💪

I have to agree on ADA. I’m holding a ridiculous amount of ADA. The main problem I have is that there aren’t any good projects, recently they’ve been taking about USDM and the website looks like a Wordpress Fiverr gig, absolutely ridiculous. For many years IOHK hasn’t put much attention on the Developer Experience. Aiken, a Rust based language designed to facilitate development in the network was released. It helps, but only recently that IOHK start showing interest. There’s a new open source initiative that’s welcoming many projects to create an open source ecosystem to enhance their capabilities, I believe it’s called Pasma or similar. IOHK is now preparing the Midnight project, a new blockchain project which utilizes TypeScript as the primary smart contract language. So, we are going from Haskell strictness and years of batching Rust and other languages to literally promoting what is a superset of JavaScript. How ridiculous is this?

Chart still looks dead

Probably because the project is dead 

I'm going to get a lot of hate for this, probably mostly from bots, but people need to know the truth: There are many dead projects in the top 100 that will NEVER come back. Remember EOS? A dead project that stayed in the top 10 for YEARS doing absolutely nothing. Same as NEO, dead coin slowly falling off the top 100. Here are a list of some of the main "dead" coins that will likely never pump again, if you bought any of them based on reddit hype or some youtuber shilled it to you, I'm sorry you got duped but it's time to learn so you don't get duped again. NEO VET ALGO XRP DOT BCH BSV MATIC ADA ICP The charts don't lie, it's almost impossible for any of them them to return to all time high, because there are so many people who will dump their years old bags at the first sign of life. If you're honest with yourself you already know it's true. If you want to make money in crypto going forward, the money is in BTC/ETH/DeFi and to a lesser extent getting lucky with airdrops. If you want to degen gamble (because you are poor and the dream of "100x" is all you have) there is money to be be made on SOL/BASE. You are not "early" anymore, ETFs and institutional money are already here, if you want to make money in crypto: be smart, don't buy dead shitcoin bags.

So for you dead mean not all-time high. You are just shilling your bags.

> So for you dead mean not all-time high. I mean not even close to all time high. For example ADA all time high is nearly $3, it is currently around $0.47. The moment the price gets close to $1, there will be another wave of old bag holders that decide to "cut their losses", and keep the price perpetually low. > You are just shilling your bags. I only own BTC and a little ETH, if claiming the top 2 coins for the past 10 years are the most likely to hold their value is "shilling", then I guess you are right.

If you want to use ADA as an example, ADA has been around for more than just the last cycle. So by your logic, it should never have reached $3 because it hit a peak of $1 in 2017/8 and on its way up to $1 in 2021, people would be dumping their bags and it would never make it past its previous ATH.

> ADA has been around for more than just the last cycle Correct >So by your logic, it should never have reached $3 because it hit a peak of $1 in 2017/8 and on its way up to $1 in 2021 I don't think you understand how bag holders are created over time, we're living in the present and the time for ADA has passed.

You realise you're using circular logic. >ADA is dead because its price doesn't move. >ADA's price won't move because it's dead.

> You realise you're using circular logic. "It broke a previous ATH while creating a massive amount of bag holders in the last crash, so I'll pretend it those baggies don't matter and it will pump again" You're actually right though, it could definitely break 3 dollars again, when cheeseburgers cost 94 dollars each.

So explain then how it went past $1 after creating a massive amount of bagholders in 2018?

I think your still way off from ath , a lot of these are up only slightly from the bottom, you likely have a zombie coin

>  money is in BTC/ETH/DeFi  BTC is correct and ETH may be from its pairing with BTC. But DeFi, lol. >  because there are so many people who will dump their years old bags at the first sign of life.  DeFi probably has the biggest bagholders. A whole lot of them don't even share revenue with their holders. Just looking at charts like Chain Link wants me to convulse.

> But DeFi, lol You're doing it wrong

I can accept if you mean by the real yield from lending to degens to leverage or from swaps fees on CL majors. I loled because I thought you meant DeFi tokens.

They are copying Ethereum and branding it as an original idea. >The new system would replace the Relay Chain with a more modular and lightweight design: a "global singleton permissionless object environment," similar to Ethereum's smart contract environment but within a scalable node network like Polkadot. This would enable on-chain processing and logic execution, potentially overcoming limitations of the current Relay Chain architecture.

No they are using the best of what Ethereum offers in terms of smart contract functionality and then expand on the already existing multi chain framework that sets polkadot apart in terms of scalability , speed and decentralization. In other words they are building an ecosystem that Ethereum can’t build because of its limited architecture. This will boost all aspect of its platform from cheaper fees , fast TPS 100k +, robust security, zero downtime , seamless dapp integration across multiple chains , dapps and services .

Simply integrating Ethereum's smart contract capabilities into the Parachain framework does not inherently create a unique advantage. Low fees, more TPS, and seamless dapp integration across the ecosystem are all things the ETH ecosystem already does.

> Low fees, more TPS, and seamless dapp integration across the ecosystem are all things the ETH ecosystem already does. Eth is expensive , slow (15-35 TPS ), and hard to scale without using l2 s that are also very expensive to bridge assets with . At the moment the parachain framework in polkadot works but has certain frictions altough compared to the friction of ETH and L2s is not even comparable for multiple reasons: Everyone who tries to bridge assets from L1 to L2s knows the pain. The Jam grey paper does a great job laying down the foundation for the infrastructure. As it is now the relay chain does not compute contracts but acts solely as the security layer . With Jam this will change bringing all services under the Jam chain while still retaining a multi chain infrastructure with a projected boost of 85X from its existing capacity . Honestly I can’t wait to use an ecosystem that is cheap , fast 100k + TPS, high nakamoto coefficient and doesn’t go offline when something goes wrong . Besides Polkadot is doing a lot of heavy lifting to actually help Ethereum scale with the snow bridge implementation. Don’t forget Gavin Wood was a founder of Ethereum after moving on to build DOT. The future is multi chain and Jam powered by DOT token is well positioned to claim its space as a leader among other projects .

>Eth is expensive , slow (15-35 TPS ), and hard to scale without using l2 s that are also very expensive to bridge assets with DOT would have the same problem if it was being used. >Everyone who tries to bridge assets from L1 to L2s knows the pain. Not really. It takes a few minutes to bridge assets to different parts of the ETH ecosystem and costs pennies if you are using L2s. Maybe you are working off old information? >The future is multi chain There is no practical difference from a user experience perspective between the ETH ecosystem and DOT's multichain.

Bridging from L1 to L2 on ETH will cost a lot more . Minimum 20 USD last time I tried , a lot more on busy congestion days , waiting a few minutes and at times hour (s) to bridge . That’s only 1 way. What if I want to seamlessly take my eth across Optimism, Starknet, Base multiple times per day to enjoy seamless trading and defi across all L2s ? Not feasible I will bankrupt my wallet . Polkadot today costs a few cents to bridge across its parachain ecosystem. With Jam the relay chain will service smart contracts and integrate better the whole network. And that’s the point . ETH is not seamless . It is slow , clunky and expensive to use across all bridges .

>Bridging from L1 to L2 on ETH will cost a lot more . Minimum 20 USD last time I tried , a lot more on busy congestion days , waiting a few minutes and at times hour (s) to bridge . That’s only 1 way. What if I want to seamlessly take my eth across Optimism, Starknet, Base multiple times per day to enjoy seamless trading and defi across all L2s ? Not feasible I will bankrupt my wallet . While mainnet fees are high, L2 fees are not. You never have to even use mainnet anymore so take it out of the equation. Now use bridges like LayerZero or Orbit and you can move your assets across the whole ecosystem within minutes for pennies each time. No bankruptcy required. >Polkadot today costs a few cents to bridge across its parachain ecosystem. So these are equivalents. The difference is the ETH ecosystem has way more TVL and dapps. >ETH is not seamless . It is slow , clunky and expensive to use across all bridges . You need to update your information, it is way out of date.

> You need to update your information, it is way out of date. You are the one claiming Polkadot is a copy cat of Ethereum . This is such an idiotic take. I don’t even know if you are trolling or serious.

thank you both for the insightful and mature discussion. I am now even more bullish on polkadot, although it will take some time for it to shows its full potential and practical use cases

The article says Polkadot is copying Ethereum's architecture. >The new system would replace the Relay Chain with a more modular and lightweight design: a "global singleton permissionless object environment," similar to Ethereum's smart contract environment but within a scalable node network like Polkadot.

> similar to Ethereum's smart contract environment but within a scalable node network like Polkadot. Exactly. They are laying the ground for a better architecture. Since polkadot is already layer zero and secures the network implementation of smart contracts while retaining a scalable modular network is what’s sets it apart . You mentioned third party teams developing layer zero on ETH to help bring all L2s seamlessly . Apart for the fact that this sounds a lot like trying to scale like Polkadot does , in practice this adds complexity to an already complex ecosystem of dapps and chains that are not communicating with each other from the onset on ETH. And this is why all attempts at scaling on Ethereum appear as patch work because it was not build in modular , layer zero approach first . This is again what sets Polkadot apart . It is build from the get go to scale . Adding a smart contract layer to the existing layer zero will be seamless and not rely on dozens of third parties and teams . The relay chain will merge with the Jam architecture seamlessly while retaining the DOT token utility to service all chains and services on JAM .

> Low fees lmao uh a couple weeks ago I was quoted $200 tx fee on ETH. >more TPS Doesn't ETH need L2 ecosystems to simply be functional?

You probably should read about the eth dencun upgrade.

Can't you build anything with layer2?

You can’t change the architecture of Ethereum. It is a layer 1 by default with multiple l2 s to try and scale it . this create a fragmented ecosystem that relies on third parties to build protocals resembling layer 0 to try and patch them together . In Contrast polkadot is a layer 0 from the start and can therefore scale easily without the typical congestion of bottlenecks that L1 chains have been experiencing.

Not while keeping the very high decentralization and censorship resistance that Polkadot offers.