🎄 林嘉文 (yes, that’s @gavofyork’s Chinese name) is back with his annual Christmas tradition — a long and thoughtful year-in-review essay!

Too festive to miss? Don’t worry—we’ve got the key highlights ready for you! 👇

1⃣ The Journey So Far

• 2023/2024 marked a turning point, shifting from delivering the whitepaper’s vision to optimizing, stabilizing, and refining products.
• Powered by insights from @dotlake_xyz and @tokenterminal, Polkadot is evolving into a broader Web3 platform.

2⃣ Ecosystem Wins

• @playmythical’s Mythos Chain: 1M active wallets, 5M users, second-largest NFT network by volume.
• @dotplayteam: Supporting devs like @AjunaNetwork, which brought Polkadot integration to Unity.
• Parachain activity surged from 10M to 40M transactions per month in November.
• @NeuroWebAI (@origin_trail): 200M events, 14M transactions in November alone.
• @one_frequency: Supporting 100M users with 10M monthly transactions.

3⃣ Tech Developments

• Asynchronous Backing: Block time reduced from 12s to 6s, 10x throughput increase.
• Agile Coretime: Monthly auctions replace crowdloans, enabling dynamic chain hosting.
• Polkadot Hub: Enhanced user experience with 2s block time and PolkaVM performance.
• Proof-of-Personhood: Privacy-first, ZK-based identity system to tackle Web2 verification failures.

4⃣ Governance & Decentralization

• Nakamoto Coefficient rose from 93 to 132—leading the industry.
• Referendum #682: JAM selected as the next-gen relay chain technology.
• Fixed annual $DOT issuance: 120M DOT/year to fund staking rewards and treasury.
• Multi-asset treasury: Supporting $USDC and $USDT reserves for ecosystem growth.
• @Polkadot’s OpenGov: 1,350 referenda, $120M in managed assets.

5⃣ Events & Education

• @joinwebzero hosted Sub0 Reset: A fresh developer event in Bangkok.
• @PolkadotDecoded returned to Brussels with great success.
• @Web3summit rebooted after 5 years at Funkhaus, Berlin.
• Gray Paper Tour: 7-hour lectures at 8 universities, spanning 4 continents.
• @AcademyPolkadot launched PBA-X: Online courses focusing on smart contracts and governance.

6⃣ JAM Protocol & Polkadot 3.0

• Released the Gray Paper, aiming for 1.0 in 2025.
• DOOM-on-JAM: A showcase of JAM’s computing capabilities.
• JAM Supercomputers: Distributed high-performance computing via the JAM Grid.
• JAM TOASTER: A 16,000-core supercomputer testing the JAM network.
• JAM Alpha: Unlimited virtual machines, truly Turing-complete.
• JAM Beta: Migration of relay chain logic with trustless blockchain interactions.
• JAM Mu: A high-speed payment system on JAM, targeting 1M transactions per second.
• Lambda Project: Demonstrating JAM’s scalability.

7⃣ Challenges & Plans for the Future

• Quantum computing threats: JAM’s ZK-based design ensures quantum resistance.
• Expanding Web3’s scalability: The JAM Grid targets exabyte-level capacity and 1 quadrillion gas/sec compute power.

8⃣ 2025 and Beyond 🕶️

Get ready for innovations in the Polkadot App, Hub, DAO expansion, Proof-of-Personhood, JAM services, and seamless Ethereum integration!

Check out the full “Polkadot 2024 Year in Review” by Gavin Wood here: https://t.co/2TzkGVwt4Z

Meanwhile, we’ve also released the full Chinese version.https://t.co/y2OB5sJFDI