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Cryptogambling / Web3 Social Media Protocol Launches ‘Layer 3’

Web3 Social Media Protocol Launches ‘Layer 3’

Publish Date: 27/04/2023

Lens, a social media protocol based on Web3, has introduced a new network called “layer 3” to expand blockchain-based social media applications. The team responsible for Lens made the announcement.

According to the team, the layer 3 application, benefits from enhanced scalability as the latest network handles the processing and storage of posts, comments, and shares, effectively removing this data from the Polygon network.

Lens Protocol
2023-04-26 17:03
Introducing Bonsai, an Optimistic L3 scaling solution, that will process transactions at hyperscale, and is designed to support the next generation of web3 social users. Available for Lens devs in closed beta today. https://t.co/AaqfikZWxT
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What is Lens?

A portable “social graph,” or digital network of relationships between users and others, can be created using the Lens blockchain technology. Users can move relationships they establish with others on one Lens app to any other app developed using the protocol.

Lens runs on the Polygon network, a layer 2 Ethereum.

What are the possible Setbacks?

The Lens team said in a technical document included in the release that the Polygon network cannot support the transaction volume or data storage requirements of large-scale social media apps, necessitating the introduction of a new “optimistic L3 hyperscaling data solution”

The document states that whereas the previous iteration of Lens could handle 40 to 50 TPS, shared blockchain networks can only support up to 200 TPS.

In contrast, it claimed that during peak times, Twitter frequently achieves 25,000 TPS.

What is the Solution?

Stani Kulechov, the founder of Lens Protocol, believes Bonzai will be an important step toward spurring mass adoption of the Web3 social app:

“Scalability is necessary for decentralized social to compete with web2. We’ll see ongoing web3 innovation, new, intriguing, and compelling features, and economic models that will encourage web3 use, as long as it can support widespread consumer acceptance.”

The group foresaw that this restriction might make it impossible for the protocol to scale as its user base increased.

In order to address this issue, Bonzai was introduced as layer 2 of Polygon or an “L3” of the Ethereum network. Bonzai stores huge files on Bundlr, a decentralized storage platform based on Arweave, along with verification information about them.

Key Takeaway

  • Lens Protocol is a social media protocol based on Web3 that runs on the Polygon network.
  • Layer 3, or Bonzai, was introduced to increase the scalability of Lens Protocol’s blockchain-based social media applications by handling the processing and storage of posts, comments, and shares.
  • The Lens team recognized that the previous iteration of Lens could not handle the transaction volume or data storage requirements of large-scale social media apps, and Bonzai was introduced to address this issue.

Conclusion

Decentralized social media may undergo a transformation with the addition of Bonzai as layer 3 of the Ethereum network. Scalability is a key component of Lens Protocol, which will help it compete with web2 social media apps’ high transaction volume and data storage needs. Bonzai may be the answer to Lens Protocol’s scaling problems, but only time will tell if more research and development will be needed. Uncertainty surrounds the future of Lens Protocol and decentralized social media, but one thing is certain: there is a ton of space for development and creativity in this fascinating and quickly developing industry.

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