Lens Protocol Floats New Network For Decentralized Social Media Apps

Lens Protocol has officially launched its blockchain network, Lens Chain. This new network supports social media apps where users own their data and control their online experience. It was revealed that about 125 gigabytes of data logs were moved to the new network. This marks one of the biggest data transfers ever in blockchain history. This data includes all the social activities, posts, and records from the old version of Lens on the Polygon network. Why Did Lens Protocol Create Its Blockchain? Lens Protocol is a well-known Web3 social platform. The platform lets people create social media apps that do not rely on big tech companies. Instead, users have full control of their profiles, posts, followers, and how they profit from their content. Lens originally ran on Polygon, a Layer 2 solution built on the Ethereum network . However, as more users and apps joined, the data became too big to handle easily. The Web3 project wanted a network built specifically for social media on the blockchain, also known as social finance (SocialFi). This led to the creation of Lens Chain, which helps improve speed, reduce costs, and handle larger amounts of information. What Is Special About Lens Chain? Lens Chain is designed to support many different types of Web3 social apps. This initiative makes it easy for developers to create and launch apps without much blockchain knowledge. The new network is fast and cheap because it uses a special Validium blockchain. This model helps Lens Chain keep the main data off the Ethereum network. It stores data using Avail, keeping costs low and performance high. Avail’s Data Availability Sampling (DAS) ensures data stays secure and accessible without overloading nodes. Lens Chain also uses zkSync ’s roll-up technology. This technology helps keep user data private by verifying information without showing the details. Additionally, Lens Chain uses GHO, a stablecoin created by Aave, for network transactions instead of Ethereum (ETH) for transaction fees. Notably, GHO is pegged to the US dollar, which makes gas fees predictable and stable. Lens Chain Sees Massive Adoption And Financial Support Several well-known Web3 social apps, including Bonsai, Fountain, and Orb, have already moved to Lens Chain. These apps are early adopters of Lens Chain and part of the growing SocialFi movement. Lens has also gained strong support from the Web3 community. Last December, Lens Protocol raised $31 million in a funding round led by Lightspeed Faction. Other investors included Avail, Circle , Consensys, Wintermute Ventures , and several individual investors. The Web3 project has raised about $46 million and has over 650,000 users, showing that many people are interested in owning their social media data. The post Lens Protocol Floats New Network For Decentralized Social Media Apps appeared first on TheCoinrise.com .