The Web 5 Is Here
Dinesh Ravishankar
Blockchain dev @Donatuz | Solidity | Ethereum | solutionist | AU student | SKCET'24
Currently we are working on web2 and we are excited about web3 and Jack Dorsey says, hey we are coming up with web 5. But why do we need web 3 and web 5 when we have web 2?
Web2 World
If we think about what is happening in web 2 world, it provides us multiple services like websites, applications and many more awesome services. The only problem is for different services we need to provide our information. We share our information, post, photos, and location, and all these data will be stored on that?particular website.
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Data Security
We are exactly not sure how the websites use our data. They may use the data for marketing or they may use it for sales or they may use it for influencing and if you think all this data is owned by you, then you are wrong. The website owns all your personal data.
If you want to use any application, for example like apple music; you want to share information about your email ID, phone number and then you are enjoying the particular service. But what if you want to move to some other service, again you go to that particular website or an app and again you share your information, only then you can access that particular service. So basically, if you want to switch, again you want to share the information.
What if we reverse it? Let you hold your information and if the service what your information, it has to request for data. It shares only the identity and may some particular key. All these will be stored in wallet, which has your identity. That’s the reason we are switching to web3 and that’s where Jack Dorsey the founder of Twitter says, we have a better solution and that is web 5. Web 5 is a combination of web 2 services and web3 technology and it is built on Bitcoin Blockchain.
Web 5
Web 5 provides Decentralized identity and storage for your application. It doesn’t have any token, so no need to worry about the pricing and inflation of the token. It is a decentralized web node and they are combining everything to give web5. The main goal of web 5.0 would be to provide users more control and ownership over their data. Web 5.0 would add emotional intelligence to the online in addition to developing a decentralized web platform with semantic capabilities. The idea behind Web 5.0 is to enable emotional connections between people and machines. Some of the important properties are ‘Control over your identity and ‘Data Ownership.