Revamping Social Networking using Blockchain : Conceptual case-study of Lens Protocol

Our internet personalities and how we define ourselves are now intricately interwoven. Social networking has allowed us to find our communities and discover true self-expression. We spend considerable time building a unique self-brand across platforms, but we now know that they are centralized systems. Social media businesses are compelled by an antiquated ad-based business model to maintain a walled garden around the information produced on their platforms, leaving consumers with no choice but to continue using the applications that these private companies alone control. Today, however, we are seeing the rapid growth of decentralized organizations and blockchain business models due to the birth of Web 3.0 and the metaverse. Specifically, the advancement of technologies has further given birth to a revamped form of blockchain-enabled social networking. Web 3.0 brings forth renewed hope for what social networking can be. This insight paper is a systematic review of the case study conducted on Lens Protocol which is a decentralized social graph with features to serve the Web3 community. Lens Protocol provides easy plug-in solutions to create permissionless and non-custodial social media profiles where we own our content and data. Our research explains the applications of using Lens Protocol for building a decentralized social media web application. The paper also outlines the main drawbacks of adopting Lens Protocol and suggests substitute strategies for its deployment and further investigation