Friday, December 9, 2022
HomeDeFiLens Protocol, Aave's decentralised social media backbone, is now available on Polygon

Lens Protocol, Aave’s decentralised social media backbone, is now available on Polygon

The Lens Protocol, a network for creating decentralised social media, has launched on the Polygon blockchain.

According to a press release, over 50 apps have launched on Lens Protocol. Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Link, and others are among them.

Lens was initially developed in February 2022 by the creators of Aave, a popular lending protocol. Lens is a software stack that allows developers to build decentralised competitors to social media behemoths such as Twitter and Facebook. The goal of Lens Protocol is to create a platform that uses a blockchain network to assist in decentralising the ownership of content and user accounts.

The Lens Protocol, as opposed to the traditional social media accounts that rely on email addresses and a unique username, uses crypto addresses and NFTs for authentication and monetization. Users, rather than a centralised company, manage the content and personal data associated with accounts under this configuration.

Centralized social media networks are often criticised for terminating user accounts without explanation. Stani Kulechov, the CEO of Aave, recently faced such a suspension. Kulechov’s account was terminated in April after he made a joke about “joining Twitter as temporary CEO.” 

Lens is trying to achieve censorship resistance for hundreds of social media applications while also assisting them in accessing new forms of content monetization via NFTs and other blockchain-based crypto assets.

“Building a Web3 social media platform on Lens Protocol has opened up a new realm of possibilities for our development team and users,” said yoginth.eth, the pseudonymous creator of Lenster, a Lens Protocol-based social media app. “Lens profoundly transforms the landscape of social media platforms and user experiences as we know them today with a user-first basic design.”

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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