Jack Dorsey to Build Web5 on Bitcoin Blockchain
Jack Dorsey, the founder of Twitter and Square has launched Web5. As per the report, Web 5 will be a new approach to building Web 3 on the Bitcoin blockchain. The reason behind developing Web 5 on the BTC chain is that it is considered the most decentralized network. As this space is assured to be a decentralized system, the Twitter founder has mentioned that it is now acquired by venture capitalists.
Web 5 aims to resolve data privacy issues by building an “extra decentralized web”. It will try to give control to users of their data.
While Web 3 includes storage and identity protocols, Web 5 will serve the users with less centralization and a better experience. From Web 5’s perspective, Web 3 is working with the right intentions but with the wrong tools.
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