Lens: A Decentralized Social Graph Platform
Social graph Lens has transitioned to a “permissionless” stage, allowing all users to participate in the network by creating an on-chain NFT for their profile. This change enables anyone to create their profiles for a fee of 10 matic tokens or a similar amount with a credit card, facilitating their entry into the platform. Lens debuted on the Polygon blockchain in May 2022.
Lens is described as a social graph, which refers to a decentralized and user-owned map of connections and relationships between individuals and entities. NFTs that serve as user profiles allow users to interact with decentralized applications (dapps) within its ecosystem.
Opening Up Profile Creation
Previously, profile creation on Lens was restricted to selected users. However, now any user can mint a Lens profile and access the protocol. This move comes amid increasing competition in the decentralized social media landscape, where multiple platforms are vying for user engagement. One of Lens’s main competitors is Farcaster, another key player in the decentralized social media space.
In October 2023, Farcaster shifted to a permissionless model after its introduction on Optimism. On the other hand, Lens’s move towards a similar approach has been more gradual due to its initial launch in 2022.
The platform has taken a cautious approach to development over the years. According to Lens founder Stani Kulechov, they chose to remain in beta during the early stages to enhance security and scalability while nurturing a vibrant developer ecosystem.
Lens Version 2: Open Actions and Momoka
Lens is currently in version 2, which focuses on Open Actions, a feature that allows users to execute external smart contract actions directly from Lens’ content posts. This feature enables developers to build custom operations that can be executed via posts. For example, users can mint non-fungible tokens (NFTs) on an OpenSea contract directly from Lens’ published content.
Additionally, Lens operates a data scaling solution called Momoka. It stores social media transaction data off-chain for efficiency while ensuring on-chain verification for security. The project secured a $15 million funding round led by IDEO CoLab Ventures last year.
Hot Take: Lens Embraces Permissionless Model
Lens’s transition to a permissionless model is a significant step towards greater inclusivity and accessibility in the decentralized social media space. By allowing all users to create profiles and participate in the network, Lens opens up new opportunities for engagement and interaction within its ecosystem.
This move also reflects the competitive nature of the decentralized social media landscape, where platforms like Farcaster are already embracing permissionless models. It demonstrates Lens’s commitment to evolving with the industry and providing users with innovative features such as Open Actions and the Momoka data scaling solution.
As a crypto enthusiast, you now have the opportunity to join Lens and create your own on-chain NFT profile. Explore the platform, interact with decentralized applications, and experience the benefits of a user-owned social graph.
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