Lens protocol — Is this the big opportunity to decentralize social media?
Lens protocol lately has made a huge improvements to be considered as a rival to standard Web2 social media platforms, as a representative…
Lens protocol lately has made a huge improvements to be considered as a rival to standard Web2 social media platforms, as a representative decentralized version.
Having a decentralized profile, which works on blockchain and can not be limited, censored, deleted or stolen without an access to the crypto wallet can be a huge advantage nowadays.
Is it a temporary hype, or totally worth efforts to jump into it?
Agenda:
- intro,
- what is it?
- how it works?
- pros & cons,
- conclusion.
What is it?
Lens Protocol is a web3 social network with a low carbon footprint. Users claim an ownership of their profiles and the content they create. Generally, it turns content to something you own through a wallet.
Lens protocol is called a social graph, because the network you create is scalable and easy to access like points on the math graph or tree root.
It is empowered on polygon proof of stake network, so that it can take over all advantages which mentioned blockchain gives.
Creating a profile is literally a minting composable NFT, this token allows to store all the content, comments and other social interaction, accessing it by crypto wallet.
How it works?
Creating a profile is literally a minting composable NFT, this token allows to store all the content, comments and other social interaction, accessing it by crypto wallet.
As a profile is linked to a wallet address, if there is a need to collect someone’s publication, there will be received a tradable token.
It gives a huge opportunity to have a total control over all owned publications. Moreover, monetizing an access to some extra content can be made extremely easy by smart contracts.
Pros & Cons
Advantages:
- decentralization,
- impossible censorship or removing an account by centralized authorities,
- ownership of the content,
- possibility to build web3 platforms on top of this protocol.
Disadvantages:
- limited on-chain storage causes problems on protocol side,
- some decentralized storages like IPFS and arwaeve have an access to original files what can make it vulnerable.
Conclusion
Lens protocol gives a huge opportunity to decentralize social medias and truly own the content which creators are making. Moreover, monetization can be proceeded smoothly by smart contracts on polygon network.
However, protocol is still on beta version, it can have some bugs which are constantly being fixed.
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