Have you ever wondered how fast time flies? A few months ago, Web3 was the buzzword, and all the crypto enthusiasts on Twitter, Instagram, and Reddit could never stop talking about it.
Well, now we are heading towards Web5, ignoring Web4, in the path of Apple and Microsoft. On June 10, Jack Drowsy, Former CEO of Twitter, announced the new platform called Web5 on his Twitter.
Web 5 is an extra decentralized web platform developed by The Block Head, formerly Square. The idea is to provide a decentralized internet layer based on the bitcoin lightning network. In this version of the decentralized network, there is only bitcoin, and you don’t have to worry about all other scam coins.
People don’t own their data on the Internet we use today, but companies like Facebook, Twitter, Google, and so on do it. But with the web3, the power of data is given back to the people.
In Web5, The Decentralized Web Platform (DWP) enables developers to write Decentralized Web Apps (DWAs) using Decentralized Identifiers (DIDs) and Decentralized Web Nodes (DWNs), returning ownership and control over identity and data to individuals.
In Web5, there are three pillars:
Decentralized Identifiers - Self Identification to enable Identity authentication and routing.
Verifiable credentials - Data formats and models for cryptographic presentation and verification of claims
Decentralized Web Nodes - Data formats and models for cryptographic presentation and verification of claims
Developers will create DWA (Decentralized web Application)instead of PWA(Progressive Web Application).
The Concept is exceptional, but there is a problem. This project was led by Jack Drowsy, not the person with the best track record for freedom of speech.
Same as Web3, Web5 might also be controlled by a big conglomerate. Yeah, Most of the Web3 is governed by the big multimillion-dollar companies and hedge funds.
I am not very much interested in Web5. Do you want to know What I am interested in - Web 6 by none other than Snoop Dogg.
That’s it for today. A newsletter about the New age of the Internet can be a good start for our newsletter. If you like this, please make sure you subscribe to the newsletter. This is my first newsletter, so please give your feedback; I am eager to read it all.
I am Muhammath; I write about various topics related to tech every week. Please subscribe. Until next time.