Aave Launches Web3, Natty Contracts-Primarily based Social Media Platform Built on Polygon

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

The decentralized finance (defi) lending platform Aave has printed the open of a Web3 social media platform known as the Lens Protocol. Primarily based on the team, Lens is a “Web3, orderly contracts-basically basically based mostly social graph” that is built the exercise of the Polygon blockchain.

Defi Mission Aave Drops the Lens Protocol, Platform’s Intent Is to ‘Empower Creators to Comprise the Hyperlinks 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 miles obvious that social media platforms would per chance well additionally leverage crypto resources so contributors can exercise micro-funds, blockchain would per chance well additionally be utilized for a decentralized version of censorship-resistant social media possession. On February 8, the defi lending mission Aave printed the open of the Lens Protocol, a Web3 social media platform that uses the proof-of-stake (PoS) network Polygon.

By the dev team who brought you the Aave Protocol, introducing @Lensprotocol. Or now no longer it’s miles time to own your digital roots🌿Read the stout thread to be taught more 👇👇👇 https://t.co/5FR1nfj9Vv

— Aave (@AaveAave) February 7, 2022

Aave predominant aspects in a right this moment printed weblog put up about the discipline, that the Web3 Lens Protocol is “designed to empower creators to own the links between themselves and their neighborhood, forming a in point of fact composable, user-owned social graph.” The developers assert the protocol is “built from the bottom up with modularity in tips, permitting current aspects to be added whereas making sure immutable user-owned assert and social relationships.”

Aave’s Lens Protocol introductory put up adds:

Since users own their info, they would possibly be able to bring it to any utility built on high of Lens Protocol. Because the gorgeous owners of their assert, creators now now no longer must difficulty about shedding their assert, target market, and livelihood basically basically based totally on the whims of a particular person platform’s algorithms and insurance policies. Additionally, every utility the exercise of the Lens Protocol advantages the total ecosystem, turning the zero-sum sport into a collaborative one.

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

Over the closing few years, there gain been moderately a range of attempts to meld blockchain tech and micro-funds into the world of social media. Many platforms serene exist luxuriate in Memo.cash, Hive, Steemit, Mediachain, Fluz Fluz, Peepeth, Minds, Society2, and Civil. Aave’s Lens Protocol will exercise a form of completely different aspects including non-fungible token (NFT) skills. The most predominant dilapidated of the Lens Protocol will be Profile NFTs and NFT profiles would per chance well additionally be followed.

When it involves e-newsletter, Aave says the platform will succor the Inter-Planetary File Machine (IPFS) and diverse media kinds. Lens Protocol users will be in a space to procure the publications and re-fragment issues with a assume feature as smartly. “By amplifying assert, it’s seemingly you’ll well additionally make a reduce from anybody who collects the long-established assert through your fragment,” Aave’s weblog put up predominant aspects. Aave extra says Lens Protocol will deploy “gorgeous open tumble mechanics” and the Lens Protocol will feature social-basically basically based mostly verification.

On the time of writing, Aave’s Lens Protocol is running on Polygon’s Mumbai testnet and the platform has been audited by Peckshield. Lens Protocol is open provide and Aave is shopping for developers to contribute and it has also launched a malicious program bounty for the platform as smartly.

Tags on this yarn

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

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist residing in Florida. Redman has been an active member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-provide code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging nowadays.

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