Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Jack Dorsey’s company TBD on Friday unveiled the decentralized Bitcoin-based Web5 platform, a super-revolution of Web3.
- The development refers to an improved version of Web3.
- Web5 aprovecha ION, red capa 2 de Bitcoin, entre otras tecnologías.
- Dorsey has been skeptical of Web3 developments.
TBD, a subsidiary of Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. owned by Jack Dorsey, announced Friday that it is building a new version of the decentralized web-based Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. .
In a statement shared on Twitter, the company focused on Bitcoin announced that he is working on a very ambitious project called “ Web5: the decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. web platform a place to buy, sell and store cryptocurrency “. Dorsey, CEO of Block and co-founder of Twitter, also took to the social network a network refers to all nodes in the operation of a blockchain at any given moment in time. to unveil the development, which he described as his biggest contribution to the Internet to date.
this will likely be our most important contribution to the internet. proud of the team. #web5
— jack (@jack) June 10, 2022
The initiative seems to refer to a highly evolved version of the now very popular Web3 concept, which refers to a decentralized web based on technology Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and cryptocurrencies. According to Bitcoin Magazine Web5 is based on the assumption that Web3 has the right intentions, but is using the wrong tools.
According to the sitio web de la iniciativa, si bien la web ha democratizado el intercambio de información, carece de una “ key layer “identity. The aim of Web5 will be to take advantage of Bitcoin and a range of computing technologies, to create a new ecosystem of decentralized identities, data storage and applications where users are in control of their personal information.
Web5 provides decentralized identity and data storage for your applications. It allows developers to focus on creating enjoyable user experiences, while returning ownership of data and identity back to the people.
Web5: a more decentralized evolution, based on Bitcoin
A presentation published along with the announcement, details several of the technical elements of the proposal. As reported by Bitcoin Magazine Web5 will be composed of software components and services such as decentralized identifiers (DID), decentralized web nodes (DWN), standalone identity service (SSIS) and a standalone identity software development kit (ssi-sdk).
It can also be glimpsed that Web5, and in particular its DID component, will take advantage of ION a second-layer network built on the blockchain of Bitcoin. As the media outlet explains, DID is essentially a globally unique persistent identifier that does not require a centralized a centralized organizational structure is one in which a single node or a small number of them are in control of an entire network. authority and is often generated and recorded cryptographically. It should be noted thatMicrosoft has also explored the platform ION for your decentralized identity developments .
Together, the Web5 group of components are intended to allow developers to focus on creating user experiences while more easily enabling decentralized identity and data warehousing.
According to the report, the goal of TBD, which is an open source Bitcoin-focused developer business, is to produce a first version of the current draft specification along with a reference implementation by July 1, 2022.
Contributions from the development community are welcome. Interested developers can submit proposals as requests for changes to be added to the GitHub gitHub is one of the most popular code hosting platforms, allowing developers to collaborate on various projects. repository . Issues can also be submitted in the same GitHub repository.
Dorsey says goodbye to Web3
In the past, Dorsey has expressed skepticism about Web3 developments. , que considera no son tan descentralizada como se promete debido a que están siendo conducidos por venture capitalists (VCs). The entrepreneur, who is a strong advocate for Bitcoin reiterated this belief in his tweet today when he wrote ” RIP to VCs Web3 “.
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen by Nicole León