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Latest cryptocurrency news > BLOCKCHAIN > Lens Lab Launches Decentralized Social Media Network
BLOCKCHAIN

Lens Lab Launches Decentralized Social Media Network

BH NEWS
Last updated: 15 May 2024 13:36
BH NEWS 2 years ago
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Lens Lab, a key developer behind the decentralized social media app Lens Protocol, is proposing the creation of Lens Network, an Ethereum-compatible Layer-2 solution. Utilizing zkSync’s ZK Stack, Lens Network aims to provide a scalable and secure platform for decentralized social interactions.

Contents
What is the Roadmap for Lens Network?Key Insights for UsersImplications for Lens Users

What is the Roadmap for Lens Network?

The transition to Lens Network will unfold in three distinct phases. Initially, it will operate as a Validium network on Ethereum. The second stage involves introducing a data availability provider, culminating in the integration of Volition to enhance both security and user control over transactions.

Validium and Volition are both zero-knowledge proof-based scaling solutions with differing security guarantees. According to Stani Kulechov, Avara’s founder, the Lens Network will combine these technologies to create a hybrid architecture. This approach aims to scale while promoting a more open and equitable internet.

Key Insights for Users

Lens represents a decentralized social graph, facilitating connections between users and entities through NFTs serving as user profiles. These profiles enable seamless interaction with decentralized applications within the Lens ecosystem. The design ensures no single entity can control the content.

The Lens Network will underpin a new version of the Lens Protocol, acting as a central hub for users. This hub will be compatible with various blockchain networks, both EVM and non-EVM.

Implications for Lens Users

– Lens Network’s hybrid architecture aims to boost scalability and security.
– User profiles as NFTs ensure decentralized control and interaction within the ecosystem.
– Transition phases focus on enhancing data availability and user transaction control.
– Integration with multiple blockchain networks could broaden user reach.
– Community criticism has impacted user numbers, indicating areas for improvement.

Despite notable advancements, Lens Protocol has faced criticism, particularly from airdrop-focused users, leading to a decline in user numbers. The project’s handling by the team continues to be a point of contention within the community.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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