Avara, the parent company of Decentralized Finance (Defi) Platform Aave, has announced the arrival of Lens Chain MAINNET, a fast and cheap Ethereum -Overlay -Blockchain for the development of decentralized social media applications.
There are now various blockchain-oriented, or “web3”, startups that uses users an alternative to the gigantic, centralized social media companies such as Facebook and Elon Musk’s X (formerly Twitter).
To offer better alternatives to existing social media giants requires a fruitful protocol level, according to Avara CEO Stani Kulechov. This means offering a developer-friendly Layer 2 environment, propelled by composite functions that have been designed to unleash the economic potential of decentralized ‘socialfi’.
“The direction we have set with Lens in the last 12 months is to bring the best developer tools to build on the social experiences of chains,” Kulechov said in an interview. “We have chosen the optimum pile to run the lens chain where we get the lowest possible transaction in costs, but a sufficient amount of security for these social transactions.”
Lens chain, a system that uses mathematical evidence to check the truthfulness of batched off-chain transactions, has its own special stablecoin, Aave’s Gho, to handle gas costs and its own decentralized data storage. A series of building blocks of applications is offered to make things, such as composite social graphs, adapted feeds, token-gatted communities etc.
The blockchain has partnerships with various defici and infrastructure projects, including Uniswap, Balancer, Layerzero, Circle, Consensys and Chainlink.
