News

Polygon Launches Aave’s Decentralized Social Media Platform

Blockchain platform Aave has launched Lens Protocol, an NFT-based decentralized social media protocol that runs on Polygon.

Polygon Launches Aave’s Decentralized Social Media Platform

Lens Protocol Now Live on Polygon

On Wednesday, Aave announced that the Lens protocol is now live on Polygon. Aave first revealed Lens Protocol during the first week of February 2022 with the first applications built on the Polygon network.

Over 50 applications have already debuted on the social media protocol which include Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Link, and others.

“The social media experience has remained relatively unchanged for the last decade, and much of that is due to your content being solely owned by a company, which locks your social network within one platform,” Stani Kulechov, CEO and founder of Aave Companies commented at the launch.

Providing Full Ownership to Users

Polygon Launches Aave’s Decentralized Social Media Platform

Lens Protocol provides users with the foundations to leverage full ownership over their “profile, content, and relationships” while plugging into any decentralized application.

Instead of traditional social media accounts that rely on email ids and a unique username, Lens Protocol makes use of crypto addresses and NFTs for authentication and monetization purposes. This essentially puts users, rather than a centralized company, in control of the content and personal data associated with accounts.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

7 minutes ago

Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments

Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…

2 hours ago

Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts

The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…

3 hours ago

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

3 hours ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

4 hours ago

This website uses cookies.