Lens Protocol launched by Aave Companies powers decentralized social networks

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Aave is launching a new protocol named Lens. It’s a decentralized social media platform that allows users to share pictures, videos, and texts with friends in a private way as well as discover and follow interesting people on the network. Aave is a blockchain company based in Singapore and Istanbul focusing on building consumer-friendly products to enable mass adoption of blockchain technology. The company has already launched two successful products – OENDO and KENDO. The latest venture, the Lens protocol will be the basis for a new social media network called Aave Network (pronounced “arc”). This article explains everything you need to know about the upcoming launch of the Aave Network.

What is Aave?

Aave is a blockchain company based in Singapore and Istanbul focusing on building consumer-friendly products to enable mass adoption of blockchain technology. The company has already launched two successful products – OENDO and KENDO. The latest venture, the Lens protocol will be the basis for a new social media network called Aave Network (pronounced “arc”).

This article explains everything you need to know about the upcoming launch of the Aave Network. Aave has a team of 40+ engineers and product managers that have spent the last 2 years building a social network on the Ethereum blockchain. They have now reached a point where the only way forward is to create a new protocol, completely distinct from Ethereum, which can scale and support millions of users.

Why Create a New Protocol?

The new protocol will be built from the ground up with a few core ideas in mind. It needs to be: The first version of the Aave protocol will be a hybrid, combining some features of both the centralized and decentralized systems. The team is building the new protocol based on the Ethereum Virtual Machine (EVM) and the underlying smart contract architecture.

The protocol will be a fork of Ethereum that is completely independent and could later be integrated with Ethereum. It will also be built with a different consensus mechanism, which the team has yet to disclose. The new protocol will be able to handle about a million transactions per second. This is much more than Ethereum can handle today, and the average social media platform needs only about 10–20 transactions per second.

Summary of Features

– Private Messaging – The protocol will have built-in support for private messaging, which is a common feature on all social media networks. – Verified Profiles – Blockchain technology allows for tamper-proof user profiles as well as automated KYC for all users. – Privacy-preserving Post Sharing – The protocol will support a privacy-preserving post sharing model. Aave will use a secure computation protocol to process the post sharing details locally on the user’s device, which means that the data never reaches the server.

The protocol will automatically attribute the source of content to avoid copyright issues and false claims. – User Reputation – The protocol will include a reputation system to incentivize users to contribute positively to the network. The reputation system would also allow users to rate and comment on other contributors.

How Will Lens be different from other social media platforms?

Lens will be different from other social media platforms in the following ways: – Lens is decentralized. Most social media platforms today are centralized – which means that all user data is stored on the servers of the platform owners. Users’ privacy is not protected and the service can be shut down or modified at any time. – There will be no advertisements on Lens. The content on Lens won’t be influenced by advertising or business interests.

It will be similar to the content on other social media platforms like Facebook before it started to be monetized by advertisements. – Lens will be ad-free and decentralized. This means that the platform won’t be controlled by a single entity. There will be no single authority to regulate the content, censor information, or shut down the platform.

Token Usage and Economics

Lens Tokens will be used to send and receive payments on the network, to compensate content creators and to support the network with computing power. The token usage is described in the diagram below. The Lens protocol will be powered by a native token called Lens Tokens. The total supply of Lens Tokens is 1 billion and will be distributed through a token sale. The token sale will be held in two phases – the presale and the main sale. The presale will be held from May 22 to June 22, 2019 and the main sale from July 7 to August 18, 2019.

The token sale will be open to both private and public investors. The team expects to raise about $45 million in the token sale. The token will be used in the network as the network currency. Users will be able to earn Lens Tokens by participating in the network. They will earn tokens by creating content, by sharing content, and by helping to maintain the network. Lens Tokens will also be used to reward users who help the network to grow by providing computing power.

Key Takeaway

The Lens protocol is a decentralized social media platform that aims to be ad-free and decentralized. The Aave team has already created successful products, and now they are ready to launch their most ambitious project yet. If you are interested in investing or participating in the network, you can learn about the details of the upcoming token sale.