Just a buzzword for now.
I would like to know how Dorsey even thinks it should work. Just saying that something is decentralized or is powered by blockchain doesn't really say anything. You need to build it first as not even tech for something like that exist. Not one that would justify "powering" it by blockchain what ever that even means.
I would like to know how Dorsey even thinks it should work. Just saying that something is decentralized or is powered by blockchain doesn't really say anything. You need to build it first as not even tech for something like that exist. Not one that would justify "powering" it by blockchain what ever that even means.
We can't start thinking about the next iteration of the Web when previous versions aren't even mature for mainstream use. Web 3.0 is just starting to blossom, so the only way Web5 will come into fruition is if Web 3.0 is perfected. There are a lot of issues that need to be solved and a lot of things to be discovered for Web 3.0 to become a force to reckon with. Who knows what the future holds for the entire cyberspace?
So say, Web 3.0 is way different from Web 5.0. Web 3.0 is more focus on the read-write-execution and still at a development stage while Web 5.0 is way more complex that takes advantage of emotional intelligence. I don't think that it is only a catchphrase but rather that person took advantage of technology in early development and forcibly attached himself to it by announcing a project called web5.
Jack Dorsey is just improvising how the next version of the Web would be. There's nothing set in stone that would completely replace Web 3.0. I think we're still too early to think about designing a new version of the Web. Bitcoin may be the currency of the Internet, but it isn't an "All-in-one" solution. Making Web5 run within the BTC blockchain is a bad idea in my opinion. They could use the Lightning Network, but you'd still need to deal with on-chain fees at some point. Imagine how slow and expensive Bitcoin will be if everyone around the world used it on a daily basis. For this and many other reasons, I believe Web5 will ultimately fail. No one can predict the future so either Web5 will materialize or another version will take its place.
