Web 5.0 the future ?
Will Web 5.0 will overcome or kill the existing Web 3.0?
Hey Fellas! It’s my pleasure to meet all of you after a long session, a little bit busy with my regular work. Today I am going to write a brief about the trending talkative matter, nothing but Web 5.0!
Recently the former CEO of Twitter Jack Dorsey tweeted about the newbie term Web 5.0, he stated it as a killer of Web 3 technology.
Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road. — Stewart Brand
Really what is Web 5.0? As you all guessed right, it’s another upgrade to the internet.
Web 5.0 — A new evolution of the internet:
Web 5.0 is a newly developed emerging platform with the amalgamation of Web2.0 and Web 3.0. It’s purely built on the Bitcoin blockchain ledger. The web 5.0 platform’s main significance is to store and maintain securing personal data. In this technological world, every firm is struggling to safeguard its client’s data from hackers and crackers around the internet. Just imagine sometimes we may struggle to remember our own Instagram credentials then how a platform will struggle to remind us all hundreds of passwords. In the present web policies, identity and personal data have been categorized under third-party properties.
The impeccable Web5 is backed up by The Block Head (TBH), one of the Bitcoin business sectors at Dorsey’s square Block. The platform solely operates on decentralization and its decentralized identity will store all personalized data to its applications. It enables the software developers to focus on developing attractive user interfaces and experiences while offering the proper ownership of data and identity to the respective individuals.
How Web 5.0 is more decentralized than the existing Web 3.0?
As we all know the term decentralization is the key mantra of the Web 3 platform but recently many web 3 enthusiasts have mentioned a single point of failure systems in their thesis where they have faced issues in integrating Ethereum, Solano in the decentralized blockchain ledger, and it eventually affects the real ownership of the owners. So the real owners can’t get access to control or modify their private data around the web 3 ecosystems.
Web 3 isn’t truly “decentralized” or owned by its users, but instead by various venture capitalists and limited partners — Former Twitter CEO, Jack Dorsey
Web 5.0 —The Main Agenda
The main motto of the Web 5.0 platform is to provide two core uses to its clients. The user will have full access control to modify his data and the full ownership of his data lies to the specific individual. These decentralized use cases will be endorsed by in-build wallets with integrated DWNS decentralized web nodes and DWAS decentralized web apps.
As previously mentioned the core agenda of Web5 is decentralized ownership. Every individual should have the ability to own his specific private data.
For example, Stella uses a digital wallet that securely manages her private data like her identity and permission for external applications and other personal connections. She may use her wallet to log in to any social media platform. Due to this data synchronization, Stella’s personalized data were at huge risk, it can be scraped by any hacker around the dark world. But it can’t be done with the impeccable web 5 platform. With the help of Web 5.0 technology, Stella’s connection to the application with her decentralized identity will verify his ownership and she does not need to create a new profile, and all her friend’s connections, personal relationships, and posts she posted via the app are stored in her decentralized web node.
RIP web3 VCs — Former Twitter CEO, Jack Dorsey’s Tweet
Jack Dorsey’s explanation about Web 5.0 :
The main reason behind this storm news is Jack Dorsey’s tweet. Many web enthusiasts were raised various questions to the former Twitter CEO Dorsey answered them with the presentation powered up from TBD, his own business unit within the Square Block. The presentation sounds positively like the standard approach that the World Wide Web Consortium W3C has been working behind this emerging evolution of the web for some time. Their thesis is somewhat similar to the explanation of the Avast (Evernym) team’s philosophy: the two fold pillars of Decentralized Identifiers aka DID being a requirement for a user-controlled, largely privacy-protecting, self-sovereign solution for digital identity.
How Web 5.0 is unique from others :
Web 5.0 ‘s uniqueness relies upon its personalized ownership characteristics. One of the novelty is that the Web 5.0 platform is it assures the guaranteed portability for individual identity. Among the various insights about digital identity, the concerned one is a re-amalgamation of identity ownership. It would eventually increase the user convenience, whereby the updated platform needs to use many attractive utilities for preserving every specific digital identity from their default wallets and other wallets. They predominantly help every individual to acquire ownership to access their personalized data whenever they want.
For any new technology there is always controversy ,there always some fear associated with it. I think that’s just the price of being first sometimes. — Hugh Grant
Web 5.0 gives full access to their users to own their privacy, that is the main reason why web 5.0 is standing out from its competitors, this increases the expectation of Web 5.0 in the digital realm! Let’s wait and see to witness the evolution of the internet!
