What is Lens Protocol?
Lens Protocol is an open-source web3 decentralized social network built on the Polygon blockchain, with the desire to overcome the disadvantages of web2 social networks such as Twitter, Facebook, etc. The protocol gives content creators complete control over links and data and helps them maintain ownership of their content. From there, form a complete social graph (social graph), which can be synthesized.
Since its launch in early 2022, the project has received much attention in the community. The rapid popularity of the protocol can be attributed to the revolutionary direction of social networking. It is known that Lens Protocol is a fork of Aave – the lending platform on Ethereum and the brainchild of Aave founder Stani Kulechov.
The Issues With Web2
Lens Protocol is intended to address problems with Web2 social media interaction. One of the problems with Web2 is the strict autonomy imposed by centralized corporations. These firms have the right to terminate accounts at anytime, which means you could lose all your followers and information.
Web2 social media networks control comments and postings, and specific accounts and material are censored; many are even removed as inappropriate. Unfortunately, innocent posts are frequently dismissed as part of the process.
The servers for Web2 social media sites are centralized. As a result, the corporation that established the site has authority over your data, account, and followers. Your involvement is limited to the platform; the corporation uses and monetizes your content without your knowledge.
After we’ve discussed some of the challenges with Web2 social media sites, we’ll look at how Lens Protocol works to see how it attempts to tackle the problem.
Structure of the Lens Protocol ecosystem
- Tend The Soil: Since the protocol is an open social graph (web3) owned by the user, any application can connect to the ecosystem.
- Explore The Roots: The primary function will include creating (mint) profiles, following other accounts, and creating and collecting any posts. It all happens on-chain.
- Native Soil: Since Lens Protocol’s core is a Web3 social network, everything in the ecosystem is built with the Web3 community in mind.
- Soak Up The Sun: With the core components of the protocol, users will have full ownership and control of the content they create.
How Lens Protocol Works
Lens Protocol’s social graph is established through a graph database (GDB). These databases use a graph structure containing individual nodes and edges to connect information and other properties to store data.
However, Lens Protocol’s brilliant contract-based social graph is entirely decentralized, while a centralized network operator controls access to data, records, and content of Web 2 platforms.
Moreover, it can be seen that any centralized service has a huge weakness: the whole system will crash if the server fails. Lens Protocol’s open social graph architecture is focused on building decentralized social networks and allows any blockchain-based DApp or social networking platform to connect to the protocol.
Furthermore, unlike the non-customizable structure of centralized services, the flexible design of the Lens protocol is based on the concepts of modularity, enabling the implementation of the latest features and fixes.
Lens is built on the eco-friendly Polygon (PoS) blockchain platform. They are also compatible with crypto wallets such as MetaMask, Gnosis Safe, and Argent, encouraging cross-platform interaction.
Lens Protocol compares to other social networks.
The social network on Lens Protocol is not too different from platforms like Facebook, Youtube, Twitter, etc. still has short videos, images, content, etc. The difference lies in the decentralization of the protocol:
- Each user can manage their social accounts and freely control data sharing.
- Creators contain their content and freely monetize without being tied down by a third party.
- Any intermediaries do not control the data.
Featured products in the Lens Protocol ecosystem
Risks associated with Lens Protocol
4 most prominent products include:
Lensfrens: Where you find and track other users’ Lens profiles.
Leinster: A web3 social network similar to Facebook. This is the main product of Lens.
Lens tube: A social network for short videos, similar to TikTok.
Phaver: A portal to the web3 social network for phones. Available on App Store and CH Play.
While the Lens Protocol has obvious advantages, the limitations that come with it should not be overlooked. Blockchain systems are often limited in terms of on-chain storage capacity. As a result, not all content and NFTs are stored at this level, requiring a different storage solution.
Lens Protocol publications have a special ContentURI that points to their content, whether text, images, video, etc. All original files are stored on distributed systems like IPFS, Arweave, or even providers like AWS S3. As a result, any user’s content can be altered.
Storage issues are directly related to security issues. The original files can be lost or damaged if they are not recorded on the blockchain. There are also some potential risks associated with smart contracts and NFTs, as in some situations, hackers can attack decentralized financial (DeFi) networks.
Instructions for registering handles on Lens Protocol
Step 1: Go to https://www.lens.xyz/ => Click “Claim Handle.”
Step 2: Click “Connect Wallet” => Then select “Browser” to connect MetaMask wallet.
Step 3: You will receive a congratulatory message if the handle is successfully created. You can then change your username and profile picture.
Others about Lens Protocol
Token
As of May 2023, the protocol has no plans to launch its token.
Team
The project’s development team is not fully public, apart from founder Stani Kulechov and project development director Christina Beltramini.
Both of these characters hold similar positions in the Aave project. That shows that the other core characters of Lens Protocol may be all members of the Aave team.
Social Media of Lens Protocol
Summary
Through the article, BTA introduced you to the Lens protocol. Hopefully, the above information will help you have an overview and better understand the project, especially those interested in web3, a decentralized social network. However, please read the article for reference; this is not investment advice.
