• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Aave

Operated By Aave, Lens Protocol Finally Goes Live On Polygon Blockchain

anushsamal
by anushsamal
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Operated by DeFi lender Aave, its decentralised social media platform, Lens Protocol has gone live on the Polygon blockchain mainnet.

Lens Protocol was first introduced in February 2022. Aave decided to introduce Lens Protocol as a decentralized competitor to Twitter and Facebook. Lens Protocol is a network which is used to build decentralized social media and has gone live on the Polygon blockchain.

The social media platform is similar to Twitter however, Lens profiles are linked to Non-Fungible Tokens which can then be ported to decentralised applications.

According to reports, close to 50 applications were brought to the fore on the Lens Protocol platform.  Apps include Lenster, Lens Booster, SpamDAO, GoldenCircle, PeerStream, Swapify, Social Link to name a few.

Stani Kulechov, CEO And Founder Of Aave Wants A Better Social Media Experience

The thought behind creating the platform was to facilitate a social media platform that will allow decentralisation of the content ownership and user accounts with a help of a blockchain network.

Traditional social media accounts function through the help of email-ids and the system of unique usernames.

Lens Protocol is different because the latter uses crypto addresses and Non-Fungible Tokens (NFTs) for authentication and monetisation.

Due to this particular feature, the users rather than centralised company is in control of the content and personal data which are associated with the user accounts.

Often centralised social media have the right to suspend and terminate accounts permanently without an explanation.

Recently, the CEO of Aave faced a similar issue with Twitter after his account was suspended owing to a particular tweet.

Right after this suspension, he took the issue into consideration and had decided to come up with the decentralised social media platform.

He stated,

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

Related Reading | Aave To Introduce A Decentralized Social Media Platform Built On Polygon

Polygon In Alignment With Aave’s Vision

Aave CEO also noted that the ownership over content created has been missing and is in fact, “long overdue”. In accordance with the aforementioned idea, co-founder of Polygon, Sandeep Nailwal, agreed with the importance of ownership of content.

Polygon also is of the similar notion that there has to be “secure content ownership”. Aave had also additionally launched a $250,000 grants program which will fund the projects that will build decentralized applications (dapps) on Lens.

Barring the social media DApps, the liquidity market protocol creators have also targeted to use nonfungible token (NFT) technology alongside the Lens’ open-source blockchain technology which will allow developers to create marketplaces, with algorithm suggestions and recommendations along with other applications.

Aave had begun developing a decentralized social media platform, but had finally decided to build on Polygon mainnet rather than Ethereum’s mainnet.

Related Reading | How Polygon Studios Captures Web2 Talent, Hires Staff From Amazon, EA And Others

Aave
Bitcoin was priced at $30,000 on the one day chart | Source: BTCUSD on TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
anushsamal

anushsamal

Follow

Full Profile

Related Posts

Best Altcoins to Watch as Altcoin Season Prepares for a Q4 Explosion

Best Altcoins to Watch as Altcoin Season Prepares for a Q4 Explosion

1 minute ago
DeepSeek's Best Crypto Presales to Buy for Uptober: AI Has Spoken

DeepSeek’s Best Crypto Presales to Buy for Uptober: AI Has Spoken

53 minutes ago
Bitchat

Messaging App Bitchat Sees Unprecedented Boom Amid Madagascar Turmoil

3 hours ago
Pump.Fun Doubles in Price, Sets the Stage for PepeNode’s Mine-to-Earn Model

Pump.Fun Doubles in Price, Sets the Stage for PEPENODE’s Mine-to-Earn Model

3 hours ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 29)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 29)

58 minutes ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 29)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 29)

58 minutes ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    3 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    5 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    6 days ago
  • Snorter надхвърли $4 милиона след...

    1 week ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.