A Deep Dive on the Lens Network with Stani Kulechov and Alex Gluchowski
May 16, 2024
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Stani Kulechov, CEO of Avara, and Alex Gluchowski, Co-Founder & CEO of Matter Labs, discuss the Lens Network on zkSync. Topics include user data control, new monetization opportunities for creators, censorship, real-world use cases, and future developments impacting the onchain creator economy.
Lens Network enables user data control and ownership in social media.
Lens Network offers new monetization opportunities for creators through blockchain technology.
Deep dives
Lens Network: Evolution of Privacy Controls
With the evolution of social networks' privacy controls, people have started using options like limiting data visibility to friends. The lens network, a shared social network, aims to offer data control to users, allowing ownership and monetization of social primitives and content. The network intends to provide identity portability across applications and enable developers to build new user experiences. Through features like ZKSync and validium setups, lens addresses data privacy and scalability concerns in Web3 social media.
Monetization and Content Ownership on Lens
Lens network introduces new monetization tools for creators and users, emphasizing the redistribution of value in social networks. By utilizing blockchain technology, users can own and monetize their data, creating programmable revenue streams. The upcoming lens protocol version 3 focuses on enhancing data control and monetization, positioning users as active participants in the monetization supply chain. Lens aims to enable content creators to monetize based on interactions, providing innovative opportunities for revenue generation beyond traditional subscription models.
Phased Rollout and Technological Advancements
The lens network rollout will progress through three phases, starting with a validium setup for decentralized transactions. Subsequent phases involve integrating external data providers for enhanced privacy and scaling solutions like ZK rollups for high-value transactions. These advancements enable efficient scaling, microtransactions, and diverse monetization options, transforming user experiences and enabling broader adoption of the lens network.
Empowering Users through Decentralized Social Graphs
By leveraging decentralized social graphs on the ZK network, lens not only ensures user data privacy but also opens avenues for secure and private social interactions. Users can selectively share data without compromising privacy, fostering a new paradigm of trust and control in social networking. The technology facilitates user ownership and control over data sharing, as well as potential monetization, fundamentally reshaping the dynamics of social networking towards user empowerment and data privacy.
The episode welcomes Stani Kulechov, founder and CEO of Avara, and Alex Gluchowski, Co-Founder & CEO of Matter Labs, the team behind the zkSync network.
The key focus of this conversation covers the newly announced Lens Network built on zkSync.
Throughout the hour we explore:
The key benefits of the Lens Network for creators.
How zkSync ensures user data control and ownership.
New monetization opportunities compared to traditional social media.
Addressing censorship and freedom of expression.
Real-world use cases and cross-chain interoperability.
Future developments and the impact on the onchain creator economy.
I hope you enjoy our conversation!
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