Lens Protocol, a community for constructing decentralized social media, has gone reside on the Polygon blockchain.
Based on a media assertion, greater than 50 functions have debuted on Lens Protocol. These embody Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Hyperlink and others.
The builders of Aave, a preferred lending protocol, first launched Lens in February 2022. Lens is a software program stack that allows builders to create decentralized opponents to social media giants like Twitter and Fb. The concept with Lens Protocol is to facilitate a platform that helps decentralize the possession of content material and consumer accounts utilizing a blockchain community.
As a substitute of conventional social media accounts that depend on electronic mail ids and a novel username, Lens Protocol makes use of crypto addresses and NFTs for authentication and monetization functions. This set-up places customers, quite than a centralized firm, answerable for the content material and private information related to accounts.
Centralized social media platforms are sometimes criticized for terminating consumer accounts with out providing an evidence. The Aave CEO himself, Stani Kulechov, confronted such a suspension lately. In April, Kulechov’s account was suspended over a joke he posted about “becoming a member of Twitter as interim CEO.” After his account was restored Kulechov advised The Block that these sorts of actions from social media giants had motivated Aave to engaged on Lens Protocol.
“The social media expertise has remained comparatively unchanged for the final decade, and far of that is because of your content material being solely owned by an organization, which locks your social community inside one platform,” Kulechov acknowledged on in the present day’s launch.
As such, Lens is making an attempt to realize censorship resistance for lots of of social media apps and assist them unlock new types of content material monetization with NFTs in addition to different blockchain-based crypto property.
“Constructing a Web3 social media platform on Lens Protocol has opened up a brand new realm of prospects for our improvement staff and customers,” stated yoginth.eth, the pseudonymous founding father of Lenster, a social media app constructed utilizing Lens Protocol. “With a user-first foundational structure, Lens basically modifications the panorama of social media platforms and consumer experiences as we all know them in the present day.”
Lens will leverage Layer 2 scalability
Scalability is an enormous challenge for decentralized social media since such merchandise are each>confronted congestion up to now from video games which have led to surge of exercise on the community.
In response to the scalability matter, Kulechov stated the protocol will discover different Layer 2 options, each on Polygon and Ethereum to fulfill scaling calls for.
“Ultimately many networks akin to Polygon (and Ethereum) will scale over L2 networks by inheriting the safety from the underlying community. That may be the trail for Lens Protocol over the long run as soon as there may be ample protocol marketfit,” Kulechov advised The Block.
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