Lens V2: A New Era of Open Socialization and Value Sharing

The latest V2 version of Lens Protocol has recently completed its migration. This highly anticipated update is centered around the core concepts of "openness and composability, shared benefits, trust, and security," bringing a series of exciting new features to users. Users can not only interact with smart contracts within social media but also execute external smart contract operations in Lens publications.

As a pioneer in the Web3 social networking space, Lens is committed to overcoming the limitations of traditional Web2 platforms. The CEO of Lens Protocol stated that the goal of V1 is to launch a Web3 social network, promote innovation, and test tools that are beneficial to the Lens ecosystem. V2, on the other hand, pursues a more flexible modular design, aiming to further enhance user autonomy in the social networking experience. Lens V2 is expected to bring revolutionary changes to social capital and user experience in Web3 social networking.

Challenges and Breakthroughs: The Web3 Social Revolution of Lens Protocol

Currently, the development of Web3 social platforms faces some challenges. Traditional social networks find it difficult to establish themselves in a Web3 environment because social activities are more complex than simple financial transactions. Web3 social networks require more features and characteristics to meet user needs.

One of the main challenges is that social networks built solely on specific content or business models often lack vitality. Users may flock in just to earn rewards, rather than being genuinely interested in Web3 social interactions, resulting in brief user engagement and a lack of deep interactions.

In addition, traditional social media platforms control user data and social relationships, making it difficult for users to focus on building their own Web3 social networks. They are accustomed to maintaining social relationships on traditional platforms, so there are barriers to transitioning to decentralized platforms to create new social networks.

Past Web3 social platforms attempted to establish social value through the issuance of social tokens, community passes, NFT artworks, and other means. However, these platforms still rely on traditional Web2 platforms to connect users and disseminate value, which presents vulnerabilities.

To overcome these challenges, Lens Protocol emerged as a decentralized social network underlying protocol. Unlike traditional social media, Lens Protocol itself is a social network. It enables third-party developers to easily build their own social media applications based on the protocol by sharing users and user data. The goal of Lens Protocol is to create a shareable social network in the form of a foundational protocol, promoting the development of Web3 social networks by driving the growth of the entire ecosystem.

Lens: The underlying protocol for creating a shareable social network

Lens is an innovative social network based on foundational protocols, standing out with its shareable features. By transforming personal profiles, followers, collectors, and content into NFTs, Lens empowers users with more rights and opportunities. Additionally, the introduction of programmable modules enhances the composability and openness of the social platform.

Personal Homepage NFT: Transform the user's personal homepage into a non-fungible token, including the user's personal information, followers, and content-related data. Users can manage their personal identity autonomously and trade on the NFT market, realizing the sharing of social capital and economic value.

Follower NFT: Associated with specific individual homepage NFTs, granting followers a unique serial number that represents their order and importance within the social network. This design promotes interaction and sharing among users, establishing more balanced and fair social relationships.

Collector NFT: Users can convert their favorite content into Collector NFTs, which are linked to their personal homepage NFTs. This enriches the content ecosystem of social networks, creating more opportunities for social interaction and sharing.

Content NFT: Users can convert their creative works into NFTs, which are linked to their personal homepage NFTs. This provides creators with a broader platform for display and trading, promoting the appreciation and protection of their creative outputs.

Programmable Module: Lens offers programmable modules that allow developers to customize various social interaction features according to their needs. This provides users with flexibility and a personalized experience, opening up innovative application scenarios.

Through these designs and features, Lens has created a shareable social network. Various NFTs collectively build the user's social capital, allowing them to manage and share it independently. Programmable modules provide developers with innovative application scenarios, expanding the functionality and possibilities of the social network.

Lens V2 New Features: Open Operations and Shared Value

Lens V2 was launched in July 2023 during the Ethereum Community Conference in Paris, showcasing a range of new features including "open operations, shared value, personal profile updates, and personal profile management", marking a further improvement in modular design.

Open Operations - Composable Social Network

Lens V2 introduces open operation capabilities, enhancing the composability of social networks. Open operations provide an open framework that allows developers to integrate external smart contract operations directly into Lens, creating innovative experiences.

Users and developers can choose different functions and combine them on Lens according to their interests and needs, creating a unique social experience. The composability of open operations also enables cross-chain operations, allowing users to interact with other blockchain networks and participate in different ecosystems.

Shared Value Creation

Lens V2 provides an innovative solution to the issues of content搬运 and plagiarism by building a value chain of contributions. It allows everyone involved in linking content publication to share in the revenue generated by that content.

Content creators, promoters (curators), and platforms can all participate in content revenue. Original users can enjoy revenue from multiple platforms without having to promote themselves or repost on other platforms. Curators are responsible for promoting users' original content to a wider audience or publishing it on other platforms, while sharing in the revenue.

Lens V2 also provides intelligent algorithm support, helping users and curators promote content more efficiently, allowing more people to see and share in the profits. This ensures that every participant in the chain can earn profits, incentivizing the continuous creation of original content and attracting more attention.

Profile Update

Lens V2 introduces the ERC-6551 standard, expanding the personal profile functionality. Each Lens personal profile can create a smart contract wallet account, possessing all the features of an Ethereum account, including holding NFT and token assets, as well as interacting with Dapps.

The attention architecture has also been improved, with attention relationships shifting from wallet addresses to personal profiles. Personal profiles can opt for NFT tokenization, and all attention relationships are linked to personal profiles. When a personal profile moves, its social network moves along with it, providing users with greater flexibility and convenience.

Lens V2 has also changed the paradigm of the social asset system. Personal profiles have become independent entities, possessing their own social graphs and following systems. The value of the relationships within the social graph is directly attached to the personal profile, making the profile itself a valuable social asset.

Personal Profile Management

Lens V2 introduces a new layer of personal profile security, allowing users to delegate social operations to different wallets. Users can switch between multiple wallets as needed, without having to bind all social functions to a single wallet address.

Lens V2 also supports multiple association modes, allowing users to bind a personal profile to multiple wallet addresses or manage multiple personal profiles with a single wallet address. Users can choose to host their personal profiles in a secure cold wallet while delegating social functions to other wallet addresses. This decoupling enhances security while providing users with more options and convenience.

Summary

Lens Protocol is committed to becoming a truly decentralized and sustainably social value-driven Web3 social platform through continuous version iterations. Users have more control and data sovereignty on Lens Protocol, and they are encouraged to actively participate, contribute, and interoperate with other applications and protocols. Currently, the Lens Protocol ecosystem has developed over 100 applications covering areas such as social entertainment, incentive mechanisms, and professional communication, meeting the diverse needs of users.

This diverse collection of applications demonstrates the advantages of an open social graph, going beyond the limitations of traditional single social media applications. Users gain more power, and their profiles and relationships become personal assets. Lens Protocol, as a protocol-based shared social network, has opened up new possibilities for Web3 social by empowering users and allowing them to choose how to develop and monetize the social network.