Operated by DeFi lender Aave, its decentralised social media platform, Lens Protocol has gone stay on the Polygon blockchain mainnet.
Lens Protocol was first launched in February 2022. Aave determined to introduce Lens Protocol as a decentralized competitor to Twitter and Fb. Lens Protocol is a community which is used to construct decentralized social media and has gone stay on the Polygon blockchain.
The social media platform is much like Twitter nonetheless, Lens profiles are linked to Non-Fungible Tokens which might then be ported to decentralised purposes.
In accordance with experiences, near 50 purposes have been delivered to the fore on the Lens Protocol platform. Apps embrace Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Hyperlink to call just a few.
Stani Kulechov, CEO And Founder Of Aave Needs A Higher Social Media Expertise
The thought behind creating the platform was to facilitate a social media platform that may enable decentralisation of the content material possession and consumer accounts with a assist of a blockchain community.
Conventional social media accounts operate by way of the assistance of email-ids and the system of distinctive usernames.
Lens Protocol is completely different as a result of the latter makes use of crypto addresses and Non-Fungible Tokens (NFTs) for authentication and monetisation.
On account of this specific function, the customers reasonably than centralised firm is accountable for the content material and private knowledge that are related to the consumer accounts.
Usually centralised social media have the fitting to droop and terminate accounts completely with out a proof.
Not too long ago, the CEO of Aave confronted the same difficulty with Twitter after his account was suspended owing to a selected tweet.
Proper after this suspension, he took the difficulty into consideration and had determined to provide you with the decentralised social media platform.
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
Associated Studying | Aave To Introduce A Decentralized Social Media Platform Built On Polygon
Polygon In Alignment With Aave’s Imaginative and prescient
Aave CEO additionally famous that the possession over content material created has been lacking and is the truth is, “lengthy overdue”. In accordance with the aforementioned concept, co-founder of Polygon, Sandeep Nailwal, agreed with the significance of possession of content material.
Polygon is also of the same notion that there must be “safe content material possession”. Aave had additionally moreover launched a $250,000 grants program which is able to fund the tasks that may construct decentralized purposes (dapps) on Lens.
Barring the social media DApps, the liquidity market protocol creators have additionally focused to make use of nonfungible token (NFT) know-how alongside the Lens’ open-source blockchain know-how which is able to enable builders to create marketplaces, with algorithm solutions and proposals together with different purposes.
Aave had begun creating a decentralized social media platform, however had lastly determined to construct on Polygon mainnet reasonably than Ethereum’s mainnet.
Associated Studying | How Polygon Studios Captures Web2 Talent, Hires Staff From Amazon, EA And Others