Operated by means of DeFi lender Aave, its decentralised social media platform, Lens Protocol has long past survive the Polygon blockchain mainnet.

Lens Protocol used to be first presented 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 long past survive the Polygon blockchain.

The social media platform is very similar to Twitter then again, Lens profiles are connected to Non-Fungible Tokens which is able to then be ported to decentralised packages.

In keeping with studies, just about 50 packages had been delivered to the fore at the Lens Protocol platform.  Apps come with Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Hyperlink to call a couple of.

Stani Kulechov, CEO And Founder Of Aave Desires A Higher Social Media Revel in

The concept in the back of developing the platform used to be to facilitate a social media platform that may permit decentralisation of the content material possession and person accounts with a assist of a blockchain community.

Conventional social media accounts serve as thru the assistance of email-ids and the machine of distinctive usernames.

Lens Protocol is other for the reason that latter makes use of crypto addresses and Non-Fungible Tokens (NFTs) for authentication and monetisation.

Because of this actual characteristic, the customers reasonably than centralised corporate is in keep an eye on of the content material and private information that are related to the person accounts.

Frequently centralised social media have the fitting to droop and terminate accounts completely with out a proof.

Lately, the CEO of Aave confronted a an identical factor with Twitter after his account used to be suspended owing to a specific tweet.

Proper after this suspension, he took the problem under consideration and had determined to get a hold of the decentralised social media platform.

He mentioned,

The social media revel in has remained somewhat unchanged for the decade, and far of this is because of your content material being only owned by means of an organization, which locks your social community inside of one platform

Similar 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 if truth be told, “lengthy late”. In line with the aforementioned concept, co-founder of Polygon, Sandeep Nailwal, agreed with the significance of possession of content material.

Polygon is also of the an identical perception that there needs to be “safe content material possession”. Aave had additionally moreover introduced a $250,000 grants program which can fund the initiatives that may construct decentralized packages (dapps) on Lens.

Barring the social media DApps, the liquidity marketplace protocol creators have additionally centered to make use of nonfungible token (NFT) era along the Lens’ open-source blockchain era which can permit builders to create marketplaces, with set of rules tips and suggestions in conjunction with different packages.

Aave had begun creating a decentralized social media platform, however had in the end determined to construct on Polygon mainnet reasonably than Ethereum’s mainnet.

Similar Studying | How Polygon Studios Captures Web2 Talent, Hires Staff From Amazon, EA And Others

Bitcoin used to be priced at $30,000 at the sooner or later chart | Source: BTCUSD on TradingView

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