Aave Launches Web3, Sensible Contracts-Primarily based Social Media Platform Constructed on Polygon – Blockchain Bitcoin Information


The decentralized finance (defi) lending platform Aave has revealed the launch of a Web3 social media platform referred to as the Lens Protocol. In keeping with the workforce, Lens is a “Web3, good contracts-based social graph” that’s constructed utilizing the Polygon blockchain.

Defi Challenge Aave Drops the Lens Protocol, Platform’s Intent Is to ‘Empower Creators to Personal the Hyperlinks Between Themselves and Their Group’

For fairly a while now, decentralized social media has been a Holy Grail to many cryptocurrency advocates. Whereas it’s apparent that social media platforms might leverage crypto belongings so contributors can make the most of micro-payments, blockchain can be utilized for a decentralized model of censorship-resistant social media possession. On February 8, the defi lending challenge Aave revealed the launch of the Lens Protocol, a Web3 social media platform that makes use of the proof-of-stake (PoS) community Polygon.

Aave particulars in a lately revealed weblog submit concerning the topic, that the Web3 Lens Protocol is “designed to empower creators to personal the hyperlinks between themselves and their neighborhood, forming a totally composable, user-owned social graph.” The builders say the protocol is “constructed from the bottom up with modularity in thoughts, permitting new options to be added whereas making certain immutable user-owned content material and social relationships.”

Aave’s Lens Protocol introductory submit provides:

Since customers personal their knowledge, they’ll deliver it to any utility constructed on high of Lens Protocol. Because the true house owners of their content material, creators now not want to fret about dropping their content material, viewers, and livelihood primarily based on the whims of a person platform’s algorithms and insurance policies. Moreover, every utility utilizing the Lens Protocol advantages the entire ecosystem, turning the zero-sum recreation right into a collaborative one.

Lens Protocol to Characteristic Profile NFTs, IPFS Help, Social-Primarily based Verification

Over the previous few years, there have been quite a few makes an attempt to meld blockchain tech and micro-payments into the world of social media. Many platforms nonetheless exist like Memo.money, Hive, Steemit, Mediachain, Fluz Fluz, Peepeth, Minds, Society2, and Civil. Aave’s Lens Protocol will use plenty of totally different options together with non-fungible token (NFT) expertise. The principle primitive of the Lens Protocol will likely be Profile NFTs and NFT profiles could be adopted.

When it comes to publication, Aave says the platform will assist the Inter-Planetary File System (IPFS) and numerous media varieties. Lens Protocol customers will have the ability to accumulate the publications and re-share issues with a mirror function as properly. “By amplifying content material, you’ll be able to earn a lower from anybody who collects the unique content material by your share,” Aave’s weblog submit particulars. Aave additional says Lens Protocol will deploy “honest launch drop mechanics” and the Lens Protocol will function social-based verification.

On the time of writing, Aave’s Lens Protocol is operating on Polygon’s Mumbai testnet and the platform has been audited by Peckshield. Lens Protocol is open supply and Aave is in search of builders to contribute and it has additionally launched a bug bounty for the platform as properly.

Tags on this story

Aave, Aave Platform, bug bounty, Crypto, decentralized finance, DeFi, empower creators, Fluz Fluz, hive, lending platform, Lens Protocol, Mediachain, Memo.money, minds, Mumbai testnet, nft, NFT Tech, NFTs, Open Supply, Peckshield audit, Peepeth, Polygon, Profile NFTs, Social Media, Social Media Blockchain, Steemit, Web3

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Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information concerning the disruptive protocols rising right now.

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