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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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  • Guides
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
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    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

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    Volume Plunges While Transactions Soar

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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

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    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

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    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

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    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

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    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

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    Elon Musk’s xAI Launches Waifu Companions for Grok

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    Web3 Meets the Stadium: The Rise of Competitive Ownership

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    Can Snoop Dogg’s Telegram Drop Revive a Slumping NFT Market?

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    Qitmeer Network Forges Partnership with Onmi to Bolster Web3 GameFi Space

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Home Web 3

Avara to launch Lens Network on zkSync to expand on success of Lens Protocol

May 15, 2024
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Avara to launch Lens Network on zkSync to expand on success of Lens Protocol
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Building on the success of Lens Protocol, Lens Lab, an entity under Avara, has announced the Lens Network, a blockchain-based network aimed at transforming the future of social media interactions. Developed on the ZK Stack utilizing zkSync technology on Ethereum, the Lens Network is poised to address and overcome the prevalent scalability challenges faced by blockchain technologies. It aims to match conventional social networks’ user experience while retaining web3’s distinctive features, such as user ownership and secure transactions.

Per the announcement, the primary goal of the Lens Network is to enable the broad adoption of web3 social functionalities by providing a robust infrastructure that can support new user experiences and monetization models. Stani Kulechov, the founder of Avara, emphasized that the Lens Network would introduce a hybrid architecture combining Validium and Volition with the ZK Stack on Ethereum, thereby scaling effectively and contributing to a more open and fair internet.

Alex Gluchowski, co-founder and CEO of Matter Labs, highlighted the crucial balance that the Lens Network aims to maintain between user-friendly interfaces and essential elements like data ownership, freedom of speech, and transaction security. The new network promises to empower developers with the flexibility to build diverse social applications and support seamless integration with EVM and non-EVM blockchains.

The rollout of the Lens Network will occur in three phases, starting with a Validium that uses ZK compression techniques on Ethereum to ensure robust data accessibility. Subsequent phases will introduce separate Validium chains designed to cater to different social network use cases and levels of privacy, eventually culminating in a Volition network that blends rollups and Validium for enhanced security and flexibility.

See also  Ethereum fees spike - How NFT sales drove network activity

Lens Labs also highlighted enhanced user empowerment, with features allowing users more control over their online presence and interaction modalities. The network supports existing Lens Profiles and offers new minting options on the Lens website, ensuring users can effortlessly maintain or expand their digital identities.

Christina Beltramini, a long-standing member of the Lens team, expressed her enthusiasm about the launch of the Lens Network. Reflecting on her journey, she stated,

“Joining the Lens team over 2.5 years ago, we set out to radically transform social media. Our goal was to advance the possibilities of social, but not by compromising on the fundamentals of the blockchain and its potential. This has always been core to our vision.”

Beltramini emphasized that the development of the Lens Network marks a significant milestone in realizing its vision of a scalable, secure, and cost-effective blockchain-based social media solution that does not sacrifice user experience.

For more detailed information on technical specifications and the phased rollout plan, interested parties can refer to the official blog post on t2, a blog platform built on Lens Protocol.

The launch of the Lens Network by Lens Lab under Avara marks a significant step towards creating decentralized, user-centric social media platforms that offer scalability, security, and user ownership. This aligns with the broader vision of a more accessible and equitable digital future.

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