Jack Dorsey Announces Bitcoin Blockchain Based Web-5
News Synopsis
Former Twitter CEO Jack Dorsey has announced on Twitter a new platform called "Web 5", a combination of Web 3 and Web 2.0 built on the Bitcoin blockchain. The platform aims at fixing personal data backup issues.
Web5 was developed by the Block Head (TBH), one of the Bitcoin business units of Dorsey's Block (formerly Square). This platform brings distributed identity and data storage to applications. “This allows developers to focus on creating a fun user experience while regaining ownership of their data and identities,” the company said.
A Twitter user asked Dorsey, “what makes Web3, out of your perspective, now no longer decentralized sufficient which you believed there had to be this subsequent level thru what you're calling Web5?”
As mentioned earlier, this web platform is built to provide two main use cases, individuals have the ability to "own data" and "control identity". These use cases are supported by wallets, decentralized web nodes (DWNS), and distributed web apps (DWAS).
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