A new competitor of Web 3 has been announced. Have you still not heard of the latest Jack Dorsey’s Web 5 announcement? You are missing out on something huge. Jack Dorsey has announced Web 5 as the competitor of Web 3. Want to know all about this buzz? Well, worry not, as we have a post on the Jack Dorsey’s Web 5, that will help you in knowing everything about this.
Jack’s beef with Web 3 has never been a secret. He feels that Web 3 has become as problematic as Web 2 that proceeded it. He has now come up with a solution. Dorsey’s Block bitcoin-focused subsidiary, TBD announced its new vision for the decentralized internet layer, Web 5. This post will be discussing more regarding this Jack Dorsey’s Web 5 announcement. Keep reading to know more!
The Jack Dorsey’s Web 5 announcement was made on Twitter by the former Twitter CEO. It is claimed to be a combination of Web 3 and Web 2.0 that is built on the Bitcoin Blockchain. The platform promises for fixing personal data security issues. Web 5 has been developed by TBH, The Block Head, that is, one of the Bitcoin Business units at Dorsey’s Block.
In this post, we will be discussing the Jack Dorsey’s Web 5 announcement. It is the latest announcement made by the former CEO of Twitter. Are you looking for more details about the Jack Dorsey’s Web 5 announcement? Keep reading to get more information. So, without any further ado, let us dive straight into the post and disclose all the crucial details related to Jack Dorsey’s Web 5 platform.
What Is Jack Dorsey’s Web 5?
The former Twitter CEO has announced the Jack Dorsey’s Web 5 which is going to outshine Web 3. It is claimed to be the competitor of Web 3 and Web 2.0. The Bitcoin-focused Block subsidiary, The Block Head has announced a new vision for the decentralized internet layer and named it Web 5. It explained its pitch for Web 5. Personal data and identity have become third-party property. It is important to have a platform that works to fix such data security issues.
The new platform, Web 5, aims at bringing a decentralized identity along with data storage for individual applications. It lets devs focus on the creation of a delightful user experience along with returning ownership of data and identity to individuals. The Jack Dorsey’s Web 5 project has been announced this Friday, it is still under development. Let us read further to get more details.
How Will Jack Dorsey’s Web 5 Look?
TBD has explained that there will high focus on personal data and identity. It has become concentrated in the hands of the third parties for a decade. The latest Web 5 platform will bring decentralized identity for individual data storage and enhance user experience. Well, this means that now users can interact with each other online without any need for central government.
The major proper pointed out by TBD regarding the existing Web 3 is that it isn’t truly decentralized. Dorsey mentioned in his tweet that we don’t own Web 3 and LPs and VCs do. He said that it is a centralized entity having a different label. So, Web 5 is a combination of Web 3 and Web 2. It will be allowing complete decentralization along with ownership of user data by users themselves. Let us read further to collect more information on this!
Tokens In Web 5
The Web 5 platform will be built on top of Bitcoin. It will not need any other tokens to function. The main idea behind this Web 5 platform is to eliminate the need for any other crypto than Bitcoin. So, there are no other tokens to invest in with the latest Web 5 platform. Let us now move further and check out the release or launch date of the Jack Dorsey’s Web 5 project.
When Will Jack Dorsey’s Web 5 Release?
The Jack Dorsey’s Web 5 project was announced and made official on Twitter by Jack Dorsey. However, the project is still under open-source development. The project has no official release date. There isn’t any set launch date yet for the Jack Dorsey project. As soon as any announcement is made about the project, we will update you. However, until now it is anticipated that the project may be out by the end of 2022.
Here, we conclude the post on the Jack Dorsey’s Web 5 project. We have disclosed all the important details about the project here. We hope the post served to be a useful one for you. The release date has not been disclosed until now. When we get an update about this, we will be disclosing it on our website. What do you think about the Jack Dorsey’s Web 5 project? Don’t forget to share your views with us. Also, keep visiting our website to get more related posts.
Frequently Asked Questions
Q1. What Is The Launch Date Of Web 5 New Platform?
A. There isn’t any official release date specified until now. It is anticipated to launch by the end of 2022 or at the beginning of 2023.
Q2. What Is Web 5?
A. Web 5 is a new platform that will focus on the decentralized identity for individual data storage. It is a combination of Web 2 and Web 3.
Q3. Are There Any Tokens In Web 5?
A. No, there aren’t except Bitcoin. You will not have any other tokens to invest in with Web 5. It will be built on the top of Bitcoin and doesn’t need any other tokens than Bitcoin to function.