Lens Network L2 Leveraging ZK Stack Announced by Aave

  • A fresh Lens Protocol deployment will be hosted by Lens Network.
  • A Layer 2 network intended to facilitate web3 social applications is being introduced by Lens Lab, the group behind Aave’s decentralized social media protocol, Lens.

Using Matter Labs’ modular ZK Stack technology, Lens Network—which was announced on May 14—plans to construct a hybrid validium and volition Layer 2.

According to Lens, this approach can retain low costs while supporting the massive transaction throughput needed by common consumer applications. In order to expedite user onboarding, Lens Network will also make advantage of account abstraction to offer gasless and signless transactions.

Matter Labs, the group behind ZkSync, said that Lens Network can facilitate widespread adoption and gets over blockchain’s scalability issues. With the advantages of web3, such as user ownership, mobility, choice, and safe transactions, this scalability breakthrough offers a user experience comparable to that of traditional social networks.

“Lens Network builds a hybrid architecture that integrates the ZK Stack on Ethereum with validium and volition,” stated Stani Kulechov, the founder of Avara, the firm that owns Lens and Aave. This will not only scale but also improve the fairness and openness of the internet.

Late in February, Lens celebrated its permissionless debut, enabling anyone to build apps on top of the protocol or create a profile.

Following its permissionless launch, daily activity increased from less than 10,000 transactions to almost 40,000, and according to Dune Analytics, the number of active users on Lens has been consistently trending between 800 and 1,500 since November.

Additionally, a new version of the Lens Protocol designed to act as a hub for Lens users will be hosted on the Lens Network. The new protocol will make it easier to integrate Lens-based social applications across numerous networks, supporting both Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains.

In order to guarantee data accessibility, Avara will implement Lens Network’s permissionless rollout in three stages, starting with the introduction of a validium that employs ZK compression techniques. Validiums publish data off-chain to lower transaction costs and increase throughput, which sets them apart from rollups, the most common Layer 2 scaling technique.

Subsequent launch phases will include the introduction of several synchronous validium chains to provide social use cases involving private and public interactions to safeguard users’ privacy. This will be followed by the adoption of volition to integrate a validium architecture for Lens Network together with a zero-knowledge rollup.

According to Matter Labs, users will be free to choose how they interact with apps and what information they choose to provide.

The prior Lens deployment on Momoka, a Layer 3 based on Polygon, will remain operational. Applications can switch to Lens Network since Lens intends to replace Momoka.

Lens contended that web2 social networking networks “trap” their users in corporate giants’ walled gardens. Because users cannot move their social capital between networks, platforms become isolated and make it easier to benefit from the exploitation of user data.

According to Avara, on-chain networks make it more difficult for a single party to monopolistically control the network and user data, allowing social media to take on a shape that favors users.

According to Lens, this gives individuals control over their social media persona and networks. Users of on-chain social networks have unrestricted access to move their contacts and data between social media platforms.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Puskar Pande

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