Aave Announces Lens Protocol Decentralized Social Media Is Live

Also known as Lens Protocol. (Illustrations: Lens Protocol)

JAKARTA – This week Aave (AAVE) as a blockchain company stated that the Lens Protocol social media platform can be accessed. The company revealed that there are 50 applications using the Lens Protocol platform, reported by Bitcoin.com News.

Aave first announced the Lens Protocol during the first week of February 2022 and the first app to be built on top of the Polygon network. Aave claims the platform brings a different social media experience.

Stani Kulechov, CEO and founder of Aave Companies, said Twitter's ordeal with Elon Musk showed that people were looking for something different from existing social media platforms.

“The social media experience has remained relatively unchanged over the last decade, and in large part because your content is solely owned by the company, which locks your social network into a single platform,” Kulechov said in a statement to Bitcoin.com News.

“But at the end of the day, as seen by Elon Musk's bid to buy Twitter, people are ready for a better-than-usual experience. Ownership of not only the content you create online, but also your profiles and social networks is long overdue, and empowering users is what Lens is aiming for,” added Kulechov.

The 50 apps built into Lens range from social apps to creator monetization tools, announcement notes. Lens users who have printed their NFT profile can access any of the apps like Peerstream, Lenster, Swapify, Spamdao, and many more.

What is the Lens Protocol?

Reporting from The Block Crypto, Lens is a collection of software that allows developers to create decentralized social media and compete with social media giants like Twitter and Facebook. The idea of the Lens Protocol is to facilitate a platform that helps decentralize content ownership and user accounts using a blockchain network.

Instead of traditional social media accounts that rely on unique identities, emails, and usernames, Lens Protocol uses crypto addresses and NFTs for authentication and monetization purposes. This setting allows the user to have complete control over the content and personal data in his account.