Aave Launches Web3, Smart Contracts-Based Social Media Platform Built on Polygon

The decentralized finance (defi) lending platform Aave has revealed the originate of a Web3 social media platform known as the Lens Protocol. Per the crew, Lens is a “Web3, dapper contracts-essentially based social graph” that’s built the employ of the Polygon blockchain.

Defi Project Aave Drops the Lens Protocol, Platform’s Intent Is to ‘Empower Creators to Enjoy the Links Between Themselves and Their Neighborhood’

For moderately a whereas now, decentralized social media has been a Holy Grail to many cryptocurrency advocates. While it’s obvious that social media platforms might well per chance per chance additionally leverage crypto sources so contributors can arrangement the most of micro-funds, blockchain might well even be utilized for a decentralized version of censorship-resistant social media possession. On February 8, the defi lending mission Aave revealed the originate of the Lens Protocol, a Web3 social media platform that makes employ of the proof-of-stake (PoS) community Polygon.

By the dev crew who introduced you the Aave Protocol, introducing @Lensprotocol. It be time to occupy your digital roots🌿Read the fat thread to learn extra 👇👇👇 https://t.co/5FR1nfj9Vv

— Aave (@AaveAave) February 7, 2022

Aave small print in a now not too long ago printed blog put up about the subject, that the Web3 Lens Protocol is “designed to empower creators to occupy the hyperlinks between themselves and their community, forming a truly composable, individual-owned social graph.” The developers recount the protocol is “built from the bottom up with modularity in mind, allowing new functions to be added whereas guaranteeing immutable individual-owned narrate material and social relationships.”

Aave’s Lens Protocol introductory put up adds:

Since customers occupy their files, they’ll narrate it to any utility built on top of Lens Protocol. Because the true owners of their narrate material, creators now not contain to apprehension about shedding their narrate material, viewers, and livelihood essentially based on the whims of a individual platform’s algorithms and insurance policies. Additionally, every utility the employ of the Lens Protocol advantages the total ecosystem, turning the zero-sum sport into a collaborative one.

Lens Protocol to Feature Profile NFTs, IPFS Reinforce, Social-Based mostly Verification

Over the previous couple of years, there were tons of makes an are trying to meld blockchain tech and micro-funds into the sphere of social media. Many platforms aloof exist treasure Memo.money, Hive, Steemit, Mediachain, Fluz Fluz, Peepeth, Minds, Society2, and Civil. Aave’s Lens Protocol will employ a chain of a form of functions collectively with non-fungible token (NFT) technology. The foremost passe of the Lens Protocol will be Profile NFTs and NFT profiles might well per chance per chance additionally additionally be followed.

In phrases of newsletter, Aave says the platform will give a prefer to the Inter-Planetary File Machine (IPFS) and a form of media kinds. Lens Protocol customers will be ready to gather the publications and re-portion things with a replicate feature as properly. “By amplifying narrate material, that you just might well per chance per chance additionally build a minimize from someone who collects the true narrate material by plot of your portion,” Aave’s blog put up small print. Aave extra says Lens Protocol will deploy “honest originate tumble mechanics” and the Lens Protocol will feature social-essentially based verification.

On the time of writing, Aave’s Lens Protocol is working on Polygon’s Mumbai testnet and the platform has been audited by Peckshield. Lens Protocol is originate supply and Aave is having a detect for developers to make a contribution and it has also launched a pc virus bounty for the platform as properly.

Tags in this legend

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

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Jamie Redman

Jamie Redman is the Files Lead at Bitcoin.com Files and a financial tech journalist living in Florida. Redman has been an keen member of the cryptocurrency community since 2011. He has a ardour for Bitcoin, originate-supply code, and decentralized purposes. Since September 2015, Redman has written bigger than 5,000 articles for Bitcoin.com Facts about the disruptive protocols emerging this day.

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