Lens Protocol 2nd Edition Released! The Version Comes with Many New Features! - COINTURK NEWS
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Lens Protocol 2nd Edition Released! The Version Comes with Many New Features!

1:58 pm (78 days ago)
July 17, 2023

Decentralized social media layer Lens Protocol has released the second version of its protocol. The new version includes multiple important features such as the usage of ERC-6551 token standard and improved external smart contract functionality.

Key Features of Lens Protocol Version 2

Lens Protocol, a decentralized social media layer focused on solving significant issues in existing social media networks, has introduced the second version of its platform, which includes an advanced external smart contract feature called “Open Actions” and the ERC-6551 token standard.

The main change introduced with the second version of Lens Protocol is the “Open Actions” feature, which allows any external smart contract action to be executed directly from the protocol’s content posts. This feature enables users to mint NFTs on an OpenSea contract directly from Lens Protocol’s published content.

According to the Lens Protocol team, “By integrating with any Web3 social application and supporting bidirectional integrations, Lens Open Actions expands Lens’s interoperability and modularity.”.

The new version of Lens Protocol also integrates the platform with the ERC-6551 token standard, enabling the inclusion of NFT ownership in other assets and interaction with applications.

In this new framework, the ownership of NFTs can be assigned to profiles instead of wallet addresses, allowing for new avenues of advanced integrations. For example, a virtual land in the metaverse can now be owned by a Lens Protocol profile and programmed to interact with land users.

Launch of Lens Protocol

Lens Protocol, launched on the Polygon network in May 2022, is a decentralized social media layer used to create social media platforms. It facilitates the storage of social media activity through NFTs and on-chain data.

In June, Lens Protocol announced a $15 million investment round led by IDEO CoLab Ventures. The team is also working on scaling solutions for a Blockchain designed to store social media transaction data off-chain and verify it on-chain, called Momoka.

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