Social media platforms have witnessed a huge surge in popularity over the last few decades. The platform allows users to share data among network users, creating seamless enjoyment. However, being a centralized platform, there are authorities to control and manage the happenings of the network, preventing users from complete control over their data.
Lens protocol is a platform that overcomes the limitation of centralization, giving the user sole control over their account. This article explores lens protocol, its importance, working, and more.
What is Lens Protocol?
Lens protocol is a social networking platform that operates on a blockchain network encompassing features of decentralization to give users full control over their data and social interactions. Unlike Twitter and Facebook, which use Web2 for creating interconnections among users in a centralized manner, the Lens protocol utilizes Web3 to provide permissionless interactions.
Apart from controlling their information and links, users are also allowed to monetize their content. The 2022 launched innovation gained huge traction as it fixes major shortcomings of centralized social media platforms.
Major Features of Lens Protocol
Lens protocol is a social networking platform introduced to overcome the existing centralization challenges of social media platforms. The key features of lens protocols include,
1. Ownership Rights
The main feature of the lens protocol is decentralization, providing users complete control over their information, interaction, connection, etc. There is no central authority to control the platform, all interactions are stored in blockchain and thus are transparent.
2. Interoperability
Lens protocols can function with other decentralized apps. The content created, interactions made, etc. can be carried to other apps that run on the same protocol. This eliminates the need to stay on a single platform creating an opportunity to share information and content among a large group of people.
3. Revenue generation
Users can monetize their art, music, video, or any content without involving an intermediary. By utilizing NFTs, these contents can be traded across platforms providing an opportunity to generate passive income.
4. Free from censorship
Being a decentralized platform, the contents of the Lens protocol are free from censorship. No authority has the right to remove or trim a particular content, creating an open platform to share and spread one’s thoughts without any restrictions.
5. Customisation
Users can choose the decentralized applications they wish to link with Lens account. They can link to any platform if they want or opt-out if they don’t wish to link.
How does Lens Protocol Work?
Lens protocol operates on a blockchain network, which is decentralized in nature. It utilizes a graph database to store data and show network members and their relationships. The open graph architecture of the platform allows all blockchain-based decentralized apps to connect to it. Featuring modularity concepts, the Lens protocol allows seamless integration of the latest technologies without compromising the security of user content.
The platform utilizes Proof of Stake consensus which reduces the consumption of energy, making Lens an eco-friendly platform. By supporting different cryptocurrencies, the platform ensures compatibility features.
How to use Lens Protocol?
1. Create a profile
Users can create a profile in Lens protocol by filling in the necessary information required. The profile is considered an NFT. All the interactions and information are stored in it.
2. Post contents
Users can post their content and share it with other users. As the contents are stored in a blockchain, they can’t be changed.
3. Interact with decentralized applications
Users can interact with decentralized applications built on the blockchain, enabling access to different services without compromising data control.
4. Sell contents
The contents are considered NFTs, users can trade these NFTs across the platform to earn profit.
Limitations of Lens Protocol
Despite numerous advantages, Lens protocol contains some limitations.
1. Scalability
The major challenge encountered in Lens protocol is scalability. Handling a large number of transactions and users seamlessly requires large storage space. The limited on-chain storage capacity of blockchains necessitates the requirement of another storage space.
2. Manipulation of content
All original contents are stored in distributed file storage systems such as IPFS and Arwave, leading to the sharing of content and increasing the chances of manipulations.
3. Maintenance of smart contracts and NFTs
NFTs and smart contracts need regular updations, which requires a large maintenance cost.
4. Regulatory concerns
In some countries, the government strictly regulates and monitors online content and data. In such places, the implementation of a decentralized social network like Lens protocol can be quite challenging.
Final Thoughts
Social media platforms are gaining huge popularity despite the fact that the data are monitored and accessed by a central authority. The decentralized approach of the Lens protocol overcomes the limitations of centralized social media platforms, offering sole control over individual information and content. However, existing challenges like additional storage and regulatory implications can hinder the benefits of the Lens protocol.