{"id":301939,"date":"2024-05-15T01:29:37","date_gmt":"2024-05-14T19:59:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=301939"},"modified":"2024-05-15T01:30:12","modified_gmt":"2024-05-14T20:00:12","slug":"aave-announces-lens-network-l2-leveraging-zk-stack-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-announces-lens-network-l2-leveraging-zk-stack-crypto-news\/","title":{"rendered":"Aave Announces Lens Network L2 Leveraging ZK Stack &#8211; Crypto News"},"content":{"rendered":"<p>Lens Network will host a new deployment of Lens Protocol.<\/p>\n<div>\n<p>Lens Lab, the team behind Aave\u2019s decentralized social media protocol, Lens, is launching a Layer 2 network\u00a0designed\u00a0to support web3 social applications.<\/p>\n<p>Announced on May 14, Lens Network leverages Matter Labs\u2019 modular ZK Stack infrastructure, with Lens planning to build a hybrid\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/news\/defi\/polygon-proposes-zero-knowledge-overhaul-for-pos-chain\">validium<\/a>\u00a0and\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/news\/defi\/starknet-to-roll-out-suite-of-fee-saving-measures-alongside-dencun\">volition<\/a> Layer 2. <\/p>\n<p>Lens said this design can support the high transaction throughput required by mainstream consumer applications while maintaining cheap fees. Lens Network will also leverage account abstraction to provide gasless and signless transactions to streamline user onboarding.<\/p>\n<p>\u201cLens Network overcomes the scaling limitations of blockchain and can support mass adoption,\u201d said Matter Labs, the team behind ZkSync. \u201cThis breakthrough in scalability delivers a user experience on par with traditional social networks while maintaining the benefits of web3: user ownership, portability, choice, and secure transactions.\u201d<\/p>\n<p>\u201cLens Network creates a hybrid architecture that combines validium and volition with the ZK Stack on Ethereum,\u201d said Stani Kulechov, founder of Avara \u2014 the parent company of Lens and Aave. \u201cThis\u00a0not only scales but\u00a0will make the internet more open and fair.\u201d<\/p>\n<p>Lens celebrated its permissionless launch in late February, allowing anybody to create a profile or develop applications on top of the protocol.<\/p>\n<p>Daily activity jumped\u00a0up\u00a0from less than 10,000 transactions per day to around 40,000 following its permissionless launch, while Lens\u2019 active user count has steadily trended between 800 and 1,500 since November, according to Dune Analytics.<\/p>\n<h3>Lens Network rollout<\/h3>\n<p>The Lens Network will also host a new version of the Lens Protocol intended to serve as a central hub for Lens users. The new protocol will facilitate integrations with\u00a0both\u00a0Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains, allowing developers to build Lens-based social applications across multiple networks.<\/p>\n<p>Avara will deploy Lens Network\u2019s permissionless rollout over three phases, beginning with the launch of a validium using ZK compression techniques to ensure data accessibility. Validiums differ from rollups, the most prevalent Layer 2 scaling mechanism, by publishing data off-chain to reduce transaction costs and bolster throughput.<\/p>\n<p>Later launch phases will introduce multiple synchronous validium chains enabling social use cases involving\u00a0both\u00a0public and private interactions to protect users\u2019 privacy, followed by adopting volition to combine\u00a0both\u00a0a zero-knowledge rollup and validium architecture for Lens Network.<\/p>\n<p>\u201cUsers will be able to decide what they wish to\u00a0share,\u00a0and how they interact with applications,\u201d Matter Labs said.<\/p>\n<p>Lens\u2019 previous deployment on\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/lens-layer-3-momoka\">Momoka<\/a>, a Polygon-based Layer 3, will continue to operate. Applications\u00a0will be able to\u00a0migrate over to Lens Network as Lens plans to deprecate Momoka.<\/p>\n<h2>Using web3 to decentralize social capital<\/h2>\n<p>Lens argued that web2 social media platforms \u201ctrap\u201d their users within walled gardens under the control of corporate giants. Users\u00a0are unable to\u00a0transfer their social capital between networks, creating siloed platforms facilitating the capture users\u2019 data for profit.<\/p>\n<p>Avara argues that on-chain networks enable social media to take a form that benefits users by making it hard for a single entity\u00a0to\u00a0monopolistically\u00a0control network and user data.<\/p>\n<p>\u201cThis empowers users with ownership of their social media identity and connections,\u201d Lens said. \u201cWith on-chain social networks, users can freely move their data and connections across social media applications.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lens Network will host a new deployment of Lens Protocol. Lens Lab, the team behind Aave\u2019s decentralized social media protocol, Lens, is launching a Layer 2 network\u00a0designed\u00a0to support web3 social applications. Announced on May 14, Lens Network leverages Matter Labs\u2019 modular ZK Stack infrastructure, with Lens planning to build a hybrid\u00a0validium\u00a0and\u00a0volition Layer 2. Lens said [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":301968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-301939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=301939"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301939\/revisions"}],"predecessor-version":[{"id":301974,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301939\/revisions\/301974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/301968"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=301939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=301939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=301939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}