3 - 5 minute read
The Lens Protocol team has recently launched a new layer 3 network called “Bonzai,” which aims to scale blockchain social media applications by processing and storing posts, comments, and shares. The new network takes this data off the Polygon network, thus increasing scalability for Lens, according to an announcement viewed by Cointelegraph on April 26, 2023. Lens is a blockchain protocol that allows users to form a portable “social graph” between themselves and others. The protocol has 17 different Lens-based social media apps, including Buttrfly, DumplingTV, Lenster, Lenstube, and others.
The technical document linked to the announcement stated that the Polygon network could not handle the transaction volume or data-storage needs of large-scale social media apps. It asserted that shared blockchain networks can only handle up to 200 transactions per second (TPS), while the previous incarnation of Lens could only handle 40 to 50 TPS. To solve this problem, Bonzai launched as a layer 2 of Polygon itself or an “L3” of the Ethereum network. Bonzai uses Bundlr, a decentralized storage platform built on Arweave, to store large files while storing verification data about them.
According to the technical paper, the Bonzai network has three types of nodes: submitters, verifiers, and timestamps. Submitters validate transactions, build metadata, and submit them to Bundlr. Verifiers monitor the data submitted by submitters and confirm that it is valid. Timestamps determine the proper block number and timestamp for a particular piece of data.
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.— Lens Protocol (@LensProtocol) April 26, 2023
Available for Lens devs in closed beta today. pic.twitter.com/AaqfikZWxT
Stani Kulechov, the founder of Lens Protocol, believes that Bonzai will be an important step towards spurring mass adoption of Web3 social apps. He stated, “To be competitive with web2, decentralized social must scale. With the ability to support mass consumer adoption, we’ll see continued web3 innovation – new, exciting, and compelling features and business models that will spur web3 adoption.”
Several companies in recent years have created decentralized social media protocols, including Lens, Subsocial, DeSo, and others. Developers hope these apps will help broaden the appeal of blockchain networks beyond the financial world. While none of them have attained the success of Facebook, Twitter, YouTube, and other Web2 social apps, some blockchain experts believe decentralized social media will be the next big thing in crypto.
The Bottom Line
The launch of Bonzai by Lens Protocol is a significant development in the blockchain social media space. The new network’s scalability and ability to handle large-scale social media apps will likely spur mass adoption of Web3 social apps. This development also highlights the potential opportunities for traders and investors looking to capitalize on the growth of blockchain technology. It is essential to keep an eye on the development of decentralized social media protocols and their impact on the market.