BitcoinWorld

Layer-2 SocialFi Lens Network Based On zkSync Technology Launched
Investing Latest News News

Layer-2 SocialFi Lens Network Based On zkSync Technology Launched

  • Lens, the on-chain social network, is transitioning to its new home, the SocialFi Lens Network, built on zkSync’s ZK Stack hyperchains.
  • Developed by Lens Lab under Avara, Lens Protocol is moving to Layer-2 development, integrating Matter Labs’ ZK Stack for high throughput and cost-effective transactions.
  • Lens Network emphasizes data ownership and privacy, setting a new standard in social network construction while encouraging the migration of applications from Momoka to Lens Network.

Lens, the on-chain social network infrastructure, is undergoing a significant transition with the launch of its new home, the SocialFi Lens Network.

Lens Protocol Evolves: Introducing the SocialFi Lens Network

The move marks a pivotal moment for Lens, as it builds upon the foundation laid by the original Lens Protocol within zkSync’s ZK Stack hyperchains.

Originally developed by Lens Lab under the umbrella of Avara, the team behind the renowned DeFi giant Aave, Lens Protocol ventured into Layer-2 development with the vision of fostering a network of SocialFi applications. 

Currently operational on the Polygon Proof-of-Stake chain since May 2022, Lens is now poised to elevate its capabilities with the launch of Lens Network.

See Also: LayerZero Sybil Bounty Event Will Be Launched With 15% Allocation For Reported Fraudulent Addresses

Matter Labs Collaboration Sets New Standard for Social Network Construction

The new protocol, leveraging Matter Labs’ modular ZK Stack infrastructure, will integrate a hybrid validium and volition Layer-2 solution. 

This integration aims to seamlessly interface with both Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains, facilitating developers in building applications on Lens Network. 

Moreover, Lens Network will prioritize high transaction throughput for mainstream consumer applications while ensuring cost-effective transactions.

One of the notable features of SocialFi Lens Network is its utilization of account abstraction, enabling gas-free and no-login transactions for users. 

While Momoka, a Layer-3 Optimism solution launched by Lens in April 2023, will continue to operate, Lens encourages applications to migrate to Lens Network as it plans to discontinue Momoka.

Alex Gluchowski, co-founder and CEO of Matter Labs, commends Lens Network for setting a new standard in social network construction, addressing users’ concerns regarding data ownership, censorship resistance, and privacy seamlessly. 

Lens celebrated its permission-less launch in late February, witnessing a significant surge in daily activity and maintaining a steady active user count.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.