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Layer-2 SocialFi Lens Network Based On zkSync Technology Launched

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  • Lens, the on-chain social network, is transitioning to its new home, the SocialFi Lens Network, built on zkSync’s ZK Stack hyperchains.
  • Developed by Lens Lab under Avara, Lens Protocol is moving to Layer-2 development, integrating Matter Labs’ ZK Stack for high throughput and cost-effective transactions.
  • Lens Network emphasizes data ownership and privacy, setting a new standard in social network construction while encouraging the migration of applications from Momoka to Lens Network.

Lens, the on-chain social network infrastructure, is undergoing a significant transition with the launch of its new home, the SocialFi Lens Network.

Lens Protocol Evolves: Introducing the SocialFi Lens Network

The move marks a pivotal moment for Lens, as it builds upon the foundation laid by the original Lens Protocol within zkSync’s ZK Stack hyperchains.

Originally developed by Lens Lab under the umbrella of Avara, the team behind the renowned DeFi giant Aave, Lens Protocol ventured into Layer-2 development with the vision of fostering a network of SocialFi applications. 

Currently operational on the Polygon Proof-of-Stake chain since May 2022, Lens is now poised to elevate its capabilities with the launch of Lens Network.

See Also: LayerZero Sybil Bounty Event Will Be Launched With 15% Allocation For Reported Fraudulent Addresses

Matter Labs Collaboration Sets New Standard for Social Network Construction

The new protocol, leveraging Matter Labs’ modular ZK Stack infrastructure, will integrate a hybrid validium and volition Layer-2 solution. 

This integration aims to seamlessly interface with both Ethereum Virtual Machine (EVM) and non-EVM compatible blockchains, facilitating developers in building applications on Lens Network. 

Moreover, Lens Network will prioritize high transaction throughput for mainstream consumer applications while ensuring cost-effective transactions.

One of the notable features of SocialFi Lens Network is its utilization of account abstraction, enabling gas-free and no-login transactions for users. 

While Momoka, a Layer-3 Optimism solution launched by Lens in April 2023, will continue to operate, Lens encourages applications to migrate to Lens Network as it plans to discontinue Momoka.

Alex Gluchowski, co-founder and CEO of Matter Labs, commends Lens Network for setting a new standard in social network construction, addressing users’ concerns regarding data ownership, censorship resistance, and privacy seamlessly. 

Lens celebrated its permission-less launch in late February, witnessing a significant surge in daily activity and maintaining a steady active user count.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Press Release

iYield Launches Crypto’s 1st Financial Planning Tool

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Mahe, Seychelles, December 9th, 2024, Chainwire

iYield provides users with a free and secure platform for tracking cryptocurrency cryptocurrency, DeFi, and traditional finances.

iYield was founded by Gentleman James, a crypto native and experienced DeFi investor. Driven by his need for a better way to manage and track his crypto, including DeFi yields, and frustrated by juggling spreadsheets and multiple dashboards, James built iYield for investors like himself.

Unlike portfolio trackers that only display asset values, iYield reveals a full financial picture by also supporting debts, incomes, and expenses – in both crypto and fiat. iYield’s dashboard lets users compare returns from their DeFi positions side by side, eliminating uncertainty and offering them the clarity needed to make smarter, more informed decisions.

Simplified Financial Management

iYield has integrated over 16,000 tokens across 17 blockchains, 40 top DeFi, and staking protocols, along with all fiat currencies, into one unified platform. This gives users real-time insights into their finances empowering them to manage everything from one secure dashboard.

iYield enables users to track a broad range of assets, from Bitcoin and Eigenlayer restaking to Solana-based tokens, traditional savings accounts, and daily expenses. The platform includes tools for budgeting, financial forecasting, and cash flow monitoring, helping users enhance their financial management and plan for long-term growth.

YouTube video

https://youtu.be/hO1HMzON1AY 

Real-Time DeFi Yield Tracking 

iYield distinguishes itself among other crypto portfolio trackers by integrating with a growing list of the top DeFi and StakeFi protocols, including Aave, Ethena, Ether.fi, Eigenlayer, Pendle, Rocket Pool, Thorchain, Uniswap, and Zircuit. The platform also provides real-time tracking of investments, staking rewards, and income streams.

New Feature: Historical Value Tracking

iYield’s latest feature enhances financial tracking by introducing the ability to view historical values. Users can now access detailed records of their items’ value and balance from the moment they were added to the platform. This feature enables a deeper analysis of financial decisions, helping users understand their impact and refine strategies for long-term success.

Built on Privacy and Security

iYield is built on a privacy-first foundation, ensuring that users can plan and manage their finances without ever compromising their personal data.

This starts with anonymity. Unlike many other platforms, iYield does not collect user IDs or sell user data, and it never asks for access to funds or personal information. The platform operates without ads, data mining, or fees, ensuring a private and secure experience for all users.

About iYield

iYield’s mission is to empower individuals to take full control of their financial future. With a clear, holistic view of both crypto and fiat finances, users can confidently make informed decisions about their long-term financial growth. From budgeting and cash flow to comparing DeFi yields side by side, iYield equips users with the tools they need to make better decisions and gain financial independence, all for free.

For more information, users can visit iYield’s Website | Twitter | Discord

Contact

Marketing Director
Josh
iYield
josh@iyield.com

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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Sui’s Path Forward: Bybit Web3 and Sui Foundation to Host Exclusive Debate Live at Taipei Blockchain Week

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Sui’s Path Forward: Bybit Web3 and Sui Foundation to Host Exclusive Debate Live at Taipei Blockchain Week – BitcoinWorld
































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TON-Based Tap-to-Earn Games Struggle with Retention Due to Repetitive Gameplay

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TON-Based Tap-to-Earn Games Struggle with Retention Due to Repetitive Gameplay – BitcoinWorld

































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