WEB5: An Extra Decentralized Web Platform: Web 5 gives users back control over their identities and data while allowing developers to concentrate on designing engaging user experiences to offer users a seamless experience with a sense of complete security.
Web 5.0 is meant to be a decentralized web platform that provides developers with the ability to create decentralized web applications. Web 5.0 would allow a developer to build an application on top of any blockchain. These applications would be used in government, enterprise, and everyday life.
Web5 was recently announced by the former CEO of Twitter, Jack Dorsey. Built on the bitcoin blockchain, Web5 is a combination of web2.0 and web3. Web5 pledges to address the issue of protecting personal information of the users across all digital platforms to ensure complete control of the personal data and information of the users. This will allow users to take control of their privacy, and share information online.
Getting to know Web5: What is Web 5?
Built on the bitcoin blockchain, developed by the “The Block Head” (TBH), Web5 enables developers to concentrate on producing seamless user experiences while giving people back control over their personal data, information, and identities. Web5 offers decentralized data storage and identification for your various applications.
To give users back ownership and control over their personal data and identity, Web5 enables programmers to create decentralized web apps by utilizing decentralized web nodes, verifiable credentials, and decentralized identifiers.
The Pillars and components of Web5
- Decentralized Identifiers: Self-owned identifiers for decentralized identity routing and authentication.
- Decentralized Web Nodes: Nodes for data storage and message transmission that provide the basis for decentralization.
- Verifiable Credential: Models and data formats for the presentation and validation of claims in cryptography.
- Self Sovereign Identity SDK
- Self Sovereign Identity Service
Key Feature of Web5 Platform
The Web5 platform is created to accommodate two key use cases: people will be able to "own their data & personal information" and "manage their identity online." Wallets, decentralized web nodes (DWNS), and decentralized web apps will enable these use cases (DWAS) under the present web framework; People or you can say users do not own their data or identities.
Companies give them accounts, and the data they provide is locked up in silos within apps. We need to give people authority over their identities and data to build a new class of decentralized apps and protocols (like tbDEX) that put people first.
Use Cases of the Web5 platform
People should be able to "own their data, information, and identity," according to a new Twitter platform called "Web5". For instance, Robert uses a digital wallet to safely manage his identity, data, and permissions for connected external apps. A new decentralized social networking the platform requires Robert to log in using his money.
Robert does not need to register a profile since he has already linked to the app using his decentralized identity, and all of the contacts, associations, and posts he makes through the application are saved on his decentralized web node.
Robert may simply move between applications whenever he wants by using Web5, carrying his social profile with him.
What are the three actors of the Web5 platform?
Decentralized Web Nodes, Wallets, and Decentralized Web Apps are the three actors of the Web5 platform.
Decentralized Web Nodes (DWNS)
Personal databases that include encrypted and public data. A decentralized version of Twitter is currently being developed known as Bluesky. Bluesky is a good example of decentralized web nodes. Your connections and tweets are not retained by BlueSky along with the program.
They are stored and accessible to you. Therefore, you are not limited to using BlueSky to display your content on decentralized social networking apps. Decentralized web nodes allow its users to host their web nodes from their computers, and phones, anywhere and can mirror them throughout your devices and online storage, synchronizing all data.
Although self-hosting your DWNs enables you to decentralize your data, we acknowledge that some people will find it more convenient for others to host their web nodes for them. We anticipate that companies will offer to host your web nodes on their servers for your convenience.
The good news is that with web5 and decentralized web nodes, you can now encrypt any sensitive data and your personal information, so you can still keep some privacy even if your web nodes are hosted by intermediates, unlike today when cloud hosts can scan everything that you host there.
Wallets
By allowing identification and data connections, wallets serve as agents for people or organizations. All of this is undoubtedly very complex, especially for people from non-technical backgrounds. Therefore, we want a straightforward, user-friendly interface that will let users access, maintain, and control their identities without compromising their data to any third-party application.
The management of data kept in decentralized IDs, decentralized web nodes, verified credentials, the context in which they should be used, and authorizations would all be possible with a well-designed identity wallet.
Decentralized Web Apps (DWAS)
With storage features and decentralized identification, web apps are improved to enhance users' experience and privacy concerns. Web5 lets developers and creators create decentralized web applications as a completely open source.
This allows users to freely utilize the opportunity for their base and concentrate on their app, which is what matters the most to them. You can obtain decentralization, identity management, and data management by creating your apps on top of Web 5.
Although there has been a significant shift in how we transmit information, the web as we know it has not undergone a complete makeover.
What distinguishes the modern Web5 ecology from the conventional Web2 ecosystem?
Traditional Web2 applications and the emerging Web5 ecosystem vary in that progressive web apps in Web2 send information directly to the centralized servers with just a minimum amount of cached information retained with the users. While Web5 operates through user-owned, decentralized web nodes rather than a centralized server.
Conclusions
The future of the internet is web 5.0, which will be a more personalized and interactive experience. This next generation of the internet will allow users to customize their online experiences and receive information that is tailored to their specific needs. In addition, web 5.0 will provide a more immersive and engaging experience for users through virtual reality and augmented reality technologies.
FAQ Related to WEB 5
What is web 5.0 called?
Web 4.0 5.0 is called “symbiotic” web. This Web will be very powerful and fully executing. Web 4.0 5.0 will be the read-write-execution-concurrency web. Web 5.0 will be about the (emotional) interaction between humans and computers.
Is there a web 5?
TBD – one of the Bitcoin business units at Jack Dorsey's Block – has launched an “extra decentralized web platform” called “Web 5”. The platform's goal is to decentralize data storage and put users back in control of their identity – by leveraging the Bitcoin blockchain
What is Web 5.0
Web 5.0 is meant to be a decentralized web platform that provides developers with the ability to create decentralized web applications. Web 5.0 would allow a developer to build an application on top of any blockchain. These applications would be used in government, enterprise, and everyday life.
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