Decentralized finance (DeFi) protocol Aave (AAVE) has launched an open-source, decentralized social media ecosystem dubbed Lens Protocol. Concurrently, the Twitter-backed Bluesky undertaking has fashioned an unbiased group to implement its imaginative and prescient of making “an open and decentralized customary for social media.”

Aave introduced its Lens undertaking on Monday, describing it as “a permissionless, composable, and decentralized social graph that makes constructing a Web3 social platform simple.” 

The protocol’s identify comes from Lens Culinaris, a “tall, branched plant” that has “a symbiotic relationship with sure soil micro organism. If the roots are left within the floor, they’ll present a supply of nitrogen for its neighbor,” in keeping with the Lens website.

This probably displays the undertaking’s open-source nature, which might enable the neighborhood to construct on it.

Detailing in regards to the social platform, the undertaking stated that it will be geared up with “acquainted social media features like having a profile, commenting, resharing a put up, and extra.” Nonetheless, Lens Protocol is powered by non-fungible tokens (NFTs), with customers proudly owning all their content material.

Stani Kulechov, founder and CEO of Aave, first revealed the undertaking in mid-July. The transfer got here after Twitter’s founder Jack Dorsey unveiled their Bitcoin (BTC) decentralized alternate (DEX) undertaking TBD.

“Since jack goes to construct Aave on Bitcoin, Aave ought to construct Twitter on Ethereum,” Kulechov tweeted on the time.

In the meantime, talking of Twitter, Bluesky has announced the formation of the Bluesky PBLLC, a Public Profit LLC that seeks to create a framework for what an open protocol for social media ought to embrace.

“Our mission is to develop and drive large-scale adoption of applied sciences for open and decentralized public dialog,” the undertaking stated. 

The group added that Jack Dorsey might be a board member, alongside Bluesky CEO Jay Graber and Jabber/XMPP (messaging service and open communication protocol) inventor Jeremie Miller.

The strikes spotlight a brand new pattern in the direction of the decentralization of social media. On October 4, Fb and its household of apps went down for a number of hours. The outage affected tens of millions of customers across the globe and additional emphasised the necessity for decentralized social platforms. 

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