Decentralization as an ideal – the vintage 2022 of the famous crypto meeting Consensus Festival in Austin, in Texas, again this year brought its share of important announcements. Last Friday is Mike Brockthe project leader of TBD – a subsidiary of Block -, which fueled the discussions with the preparation of a web 5 entirely based on Bitcoin. Explanations to follow!
From web 1 to web 5 to give power back to users
In the early 90s, the web 1. At that time, few families had a connection. There was little content to view. It was the great beginnings of the internet. Only text was available with rare images. Moreover, the users contented themselves with consulting the pages and possibly clicking on a link to go to other pages. It can be considered that it existed between 1989 and 2005.
Then appeared sites of a new kind. Not only could you consult revolutionary content – such as videos or music – but above all you could upload it yourself. It was the advent of social networks and collaborative platforms, such as YouTube, Facebook, etc. The user has also become an actor, and sharing is becoming more democratic. So we were talking about web 2.
the problem ? The management of your datathe privacy of yours activities and the protection of your private life. Huge companies are formed. They monetize the data and make a fortune on this model. It is in opposition to this system and wanting “ horizontalize » the process by the blockchain that the famous web 3 will see the light of day with Bitcoin at the head of the bow. Unfortunately, criticism is pouring in from all sides, especially from Jack Dorseyslayer of a web 3 too centralized to his taste.
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Bitcoin and decentralization at the heart of the system
For Dorsey, the excessive presence of investment funds, giant platforms and the systematic recourse to the control ofIentity killed the original idea:
“You don’t have web 3. Investment funds do. He will never escape their grasp. It is ultimately a centralized entity with a different label. Know what you’re getting into. »
This is why, with his company Block and its subsidiary with the mysterious name “TBD”he will launch this idea of web 5. Here are the highlights.
This new network will work exclusively on the protocol Bitcoin to take advantage of its inherently decentralized construction. Web 5 will thus be a decentralized web platform (DWP) working with decentralized identifiers (DID) and decentralized web nodes (DWN). All this allows the creation of web applications that are also decentralized. Yes ! The term “decentralized” comes up every line, but that’s the ultimate goal of the project.
Of course, this new kind of network will have bitcoin as a means of payment. It should also allow each user to directly monetize their data and thus remain master of the treatment made of its activities online and sound identify. The details of this project have been published on a document open to all.
To date, all this is just a project in open source and no release date has been announced. Last thing: you may be wondering why web 5, and not 4? In fact, web 5 is equal to web 2 and web 3, or web 5. Logical! Let’s end with a final humbling quote from Jack Dorsey:
“This will probably be our most important contribution to the internet. Proud of the team. »
Far from a more than gloomy cryptocurrency market, the Block team therefore continues to imagine the future of internet and plans to rest only on bitcoin. Whatever one thinks of it, this has the merit of fueling the discussions and sparking debate between the maximalists and the others. And at the time when centralized platforms are sinking one after the other, it is difficult to prove them wrong.
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