THELOGICALINDIAN - Bitcoin apostle Jack Dorsey affairs to claiming the Ethereumcentric Web3 concept
Jack Dorsey’s TBD affairs to abandon absolute Web3 concepts by architecture its decentralized web accepted accepted as “Web5” on top of Bitcoin.
Taking the Decentralized Web to Bitcoin
TBD has announced affairs to actualize a decentralized web belvedere alleged “Web5” on the Bitcoin network.
By contrast, best aggressive projects accept called to assignment with the Web3 concept, which provides an access to architecture blockchain-based web applications. Web3 abundantly relies on Ethereum and added chains that abutment acute contracts, which are able-bodied ill-fitted for programmability and tokenized payments.
As such, Dorsey’s Web5 activity is notable in that it seeks to body its apparatus on top of the Bitcoin network—a action that is not about apparent as ideal for blockchain-based applications.
More technically, Web5 will focus on character rather than tokenized payments. To do so, TBD affairs to body a Decentralized Web Platform (DWP) that will acquiesce developers to actualize Decentralized Web Apps (DWAs) with Decentralized Identifiers (DIDs) and Decentralized Web Nodes (DWNs), according to a web presentation from TBD.
The belvedere will conspicuously use ION, a Bitcoin character band developed by Microsoft and the Decentralized Character Foundation.
In a applied sense, Web5 aims to solve the botheration of accepting claimed abstracts online after affairs that abstracts to third parties. The activity aims to “bring decentralized character and abstracts storage” to web applications while abiding abstracts buying to users.
Web5 Will Be Developed by TBD
TBD is a business afresh created by Dorsey’s Block, Inc. in adjustment to focus on developing Bitcoin infrastructure.
Block itself—best accepted for its Square payments app—has additionally bidding affairs to barrage a Bitcoin hardware wallet and a decentralized exchange in the future.
However, Dorsey now stresses that Web5 could be a beyond accomplishment than those added plans. He said in a tweet that Web5 “will acceptable be [my team’s] best important addition to the Internet.”
Dorsey, who has continued been analytical of Web3, again took a jab at Web3 investors by autograph “RIP web3 VCs.” Dorsey himself has been accountable to blowback for his Bitcoin maximalism and criticism of Ethereum.
Dorsey was additionally active in allowance Twitter accept crypto afore he stepped bottomward as CEO of the amusing media aggregation last year.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
