Web5 is a combination of Web3, and Web 2.0 built on the Bitcoin blockchain, former Twitter CEO Jack Dorsey announced through Twitter.
Published on his Twitter recently, Dorsey said that the new platform will aim at fixing the issue of securing personal data. “We struggle to secure personal data with hundreds of accounts and passwords we can’t remember. On the web today, identity and personal data have become the property of third parties,” the company said on its website.
Web5 is developed by one of the Bitcoin business units at Dorsey’s Block (formerly Square) called The Block Head (TBH). The company added that the platform’s core identity is decentralization and data storage to applications. It said developers will “focus on creating delightful user experiences while returning ownership of data and identity to individuals.”
While venture capitalists and their limited partners widely own Web3, the Web5 platform will be controlled independently by individuals.
Dorsey tweeted, “You...
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