Lens Protocol - The Future of Social Media or Not? - Market247.io
Stani Kulechov and Aave have just launched a social networking project called Lens Protocol. Why does the lending and borrowing platform Aave join into a completely different field than what they are doing now? What problem does Lens Protocol aim to solve? Learn more about this project through today's article.
What is Lens Protocol?
The Lens Protocol is a Web 3 social network on the Polygon - a Proof-of-Stake blockchain. The project is intended to empower creators by allowing them to own the connections between themselves and their communities, resulting in a user-owned social network. The protocol was designed from the ground up to be modular, allowing for the addition of new features and fixes while preserving user-owned content and social relationships.
Lens Protocol is a protocol that enables the creation of social networks (social graphs) by connecting content creators (creators) to their communities, resulting in the creation of a complete social graph owned by the user himself. The Polygon blockchain platform is used to build and develop the project.
In web2, social media companies build their social graphs centralized. Nodes in a social graph represent individuals, organizations, and their relationships. All information is recorded in a centralized manner on typical social media platforms that use social graphs. In other words, the information used on the platform does not actually belong to the users. The use of blockchain technology can assist in restoring some control to regular users in web3.
Lens Protocol was created to address the shortcomings of Web2 social networks: all records, data, and connections are stored centralized, not owned by the user but belonging to the user. control of the operating company
How does Lens Protocol work?
Lens Protocol makes use of an open-source and extensible social graph. This is free to use for creators looking to launch their own social media platform on web3. NFTs are used to represent user profiles. All profiles are saved in the Polygon PoS layer 2 solution. Additionally, the platform works with wallets such as MetaMask, Gnosis Safe, and Argent. This promotes cross-platform interoperability.
What makes the Lens Protocol unique?
The Lens Protocol offers users many advantages as follow.
Powered by blockchain technology
Data will not be controlled by a third party because it is decentralized. Users can make their own decisions about the exploitation and sharing of their personal data, allowing them to earn money through social networks.
Allow users to earn money
Users may profit from the content, intellectual property, or relationships associated with them. When users' efforts must be rewarded, this ensures fairness.
They are also more motivated to create content and promote the social networking platform Lens Protocol in order to become wealthier.
Lens Protocol includes social graphs, allowing apps to connect to it.
Lens Protocol, in addition to the above outstanding features, can be combined with projects (the closest is the demo board of the Spotify music project I have pictured below). As a result, it fosters a mutually beneficial and expanding relationship between the provider of social graphs, such as Lens Protocol, and the applications that wish to build on or in conjunction with the Lens Protocol. Lens Protocol is designed in the module format, so when new features are added, the project can be easily expanded without affecting the user's data (including their social networks and content).
The Features of Lens Protocol
The design of Lens Protocol essentially replicates social media functions within the context of blockchain technology. Each of these concepts is enforced through the use of smart contracts.
All content created by creators, curators, and regular users is included in publications. Posts, comments, and mirrors are examples of this.
Users can add additional content to another profile's post by leaving comments. All comments are saved on a chain in that user's Profile NFT.
Mirrors, like reposts, allow content to be distributed further through the network. The mirrored content is subject to the terms imposed by the original profile that posted it.
Collect is a service that allows content creators to monetize their work. Other users can use this to create NFTs of the content published by the original profile under the conditions specified by the original publisher.
Follow allows users to keep track of other people's profiles. Following the establishment of such a connection, Follow NFTs are minted. The conditions for this type of connection can be set by each profile. In such a case, a profile may determine that a fee of X amount of MATIC must be paid.
The Team of Lens protocol
Stani Kulechov is the founder of the Lens Protocol. He is also the creator of the Aave Protocol project, which is the leading lending protocol on Ethereum in particular and the face of the entire decentralized finance platform in general.
He also contributes to projects such as Flamingo DAO, Metacartel Ventures, and PleasrDAO.
As can be seen, the Lens Protocol is heading in a completely different direction than centralized social networks like Facebook and Twitter. As a result, if successful, it has the potential to establish a new market trend. So, what are your thoughts on the Lens Protocol?
Learn more about Lens Protocol !
FQAs about Lens Protocol
Does Lens Protocol have a token?
Lens Protocol currently lacks a native token. However, the likelihood of such a token being introduced in the future is high.
How can I use the Lens protocol?
Users must create a Lens Protocol profile, which results in the creation of an NFT on the blockchain. This allows all users to interact with other users' profiles. All of the content they submit to the platform is kept on a chain.
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