What exactly is Web 5? Jack Dorsey has announced the launch of a new platform based on the Bitcoin Blockchain.

Safalta Expert Published by: Aryan Rana Updated Wed, 15 Jun 2022 01:25 AM IST

Highlights

Jack Dorsey introduced a new platform called Web5 on Twitter. Web5 is a hybrid of Web3 and Web2.0 that's based on the bitcoin blockchain. The platform will allow users to take control of their own data instead of handing it over to third parties.

Former Twitter CEO Jack Dorsey introduced a new platform called 'Web5' on Twitter. It's a hybrid of Web3 and Web2.0 that's based on the bitcoin blockchain. Web5 promises to solve the problem of personal data security. "We struggle to secure the personal data of hundreds of accounts and passwords we can't recall," according to Twitter. Identity and personal data have become the property of third parties on the internet nowadays." Web5, a potentially revolutionary technology, will allow consumers to take control of their data instead of handing it over to other parties. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.

Source: Safalta.com

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What exactly is Web5?

Web5 was created by The Block Head (TBH), which is one of Jack Dorsey's Bitcoin Business Units (formerly square).

Web5 provides applications with decentralized identity and data storage. According to Twitter, Web 5 allows developers to focus on creating enjoyable user experiences while reclaiming data and identity control for users.

Important information about the Web5 platform

Individuals will be able to 'own their data,' and they will be able to 'manage their identity,' thanks to the Web5 platform. Wallets, decentralized web nodes (DWNS), and decentralized web apps will all enable these use cases (DWAS).

Web5 explains how they want people to be able to "own their data."

Individuals should be able to "own their data," according to a new Twitter platform called "Web5". Alice, for example, has a digital wallet that protects her identity, data, and permissions for external apps and connections. Alice logs onto a new decentralized social media platform with her wallet.

Alice, on the other hand, does not need to establish a profile because she has connected to the app with her decentralized identity, and all of the connections, relationships, and postings she makes through the app are saved in her decentralized web node.

Alice may switch apps whenever she wants thanks to Web5, and her social profile follows her.

What's the difference between the old Web2 ecology and the new Web5 ecosystem?

The distinction between classic Web2 applications and the new Web5 ecosystem is that progressive web apps convey information directly to centralized servers using minimal cached details. Instead of a centralized server, Web5 relies on decentralized web nodes that are controlled by the users.

Facts to remember

Former Twitter CEO Jack Dorsey introduced a new platform called 'Web5' on Twitter.

The hybrid of Web3 and Web2.0 is Web5 which is based on the bitcoin blockchain.

Web5 provides applications with decentralized identity and data storage.

Web 5 allows developers to focus on creating enjoyable user experiences while reclaiming data and identity control for users.

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