Twitter and Block co-founder Jack Dorsey is back at taking shots at Web3 again as TBD, a Bitcoin (BTC)-focused subsidiary of Block, announced that it is building Web5 - a Decentralized Web Platform (DWP) that is meant to enable ‘truly’ decentralized apps and protocols.
According to the description on the project’s site, Web5 will return data ownership back to people by utilizing decentralized data and identity tools.
“Web5 brings decentralized identity and data storage to your applications. It lets [developers] focus on creating delightful user experiences, while returning ownership of data and identity to individuals,” they claimed.
The key components of Web5, or DWP, include Decentralized Web Apps (DWAs) that will utilize Decentralized Identifiers (DIDs) and Decentralized Web Nodes (DWNs), the presentation of the initiative shows.
DIDs will include self-owned identifiers that should be capable of decentralized identity authentication and routing and cryptographic verifiable...
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