Wednesday

Polygon

Lens Lab, a key component of the Web3 project Avara and a key developer of the social graph Lens Protocol, has announced plans to develop its own EVM-compatible Layer 2 network known as Lens Network.
<h2 id="lens-protocol-announces-zk-stack-powered-validium-chain-plan">Lens Protocol Announces ZK Stack-Powered Validium Chain Plan</h2>
Lens Network will be an EVM-compatible Validium chain developed using zkSync's Layer 2 development stack, ZK Stack.
The transition to Lens Network will be carried out in three stages:
Starting with a Validium chain on Ethereum, then introducing a data availability provider and finally integrating Volition to increase security and user control over transactions.
Validium and Volition are blockchain scaling solutions that use zero-knowledge (ZK) proofs, but they operate under different security assumptions.
“Lens Network is creating a hybrid architecture that combines Validium and Volition with the ZK Stack on Ethereum. This will not only scale, but also make the internet more open and fair.” said Stani Kulechov, founder of Avara.
The project has so far used the Polygon POS chain to process transactions and has previously developed its own scaling solution called Momoka.
Related News: <a href="https://en.bitcoinsistemi.com/the-big-day-has-arrived-crucial-bitcoin-related-data-to-be-released-on-wednesday/" target="_blank" rel="noopener noreferrer nofollow">The Big Day Has Arrived: Crucial Bitcoin-related Data to Be Released on Wednesday</a>
The lens is defined as a social graph that refers to a decentralized and user-owned map of the connections and relationships between individuals and entities.
Serving as user profiles, NFTs allow users to interact with decentralized applications within its ecosystem. The design of Lens-based dapps prevents any single entity from gaining control over the content.
The Lens Network will support a new version of the Lens Protocol, which will act as a central hub for Lens users.
This hub will seamlessly integrate with other EVM and non-EVM blockchains, further increasing the versatility and utility of the Lens ecosystem.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/lens-lab-developer-of-web3-project-lens-protocol-announced-an-important-update/" rel="noopener noreferrer nofollow">Lens Lab, Developer of Web3 Project Lens Protocol, Announced an Important Update!</a>

Lens Lab, Developer of Web3 Project Lens Protocol, Announced an Important Update!

Table of Contents

Bitcoin Sistemi EN

Other articles published on May 15, 2024

Fantasy Top Keeps On Receiving Massive Traction – Becomes The Most Traded NFT Series This Week

Is It Too Late To Buy PEPE? Pepe Price Surges 10% As The Crypto Fear And Greed Index Signals Gree...

Momentum Slows Down On BONK And FLOKI; Investors Opt For The Promising $RECQ Presale

Solana DEX Cypher Developer Admits to Stealing and Gambling Funds

Legal experts weigh-in on case against Roger Ver

Aura Finance Price Prediction: AURA Surges 12% As Traders Pivot To This AR/VR Crypto That’s Closi...

Join our free newsletter for daily crypto updates!