Cryptocurrency and NFTs are becoming more popular by the day. For this reason, many tech giants are developing what is seen as the next version of the internet. to web3 make moves towards it. Web3, decentralized, decentralized based on blockchain means an internet version.

Twitter founder, now known for his interest in cryptocurrencies by Jack Dorsey There is a new move in this area. According to the news, Dorsey, while Web3 was just beginning to become widespread, a “web5′ started building the platform.

An internet environment with only Bitcoin

A Bitcoin startup owned by Dorsey’s financial services firm, Block. To be determinedannounced its plans to build a new decentralized internet environment around the leading cryptocurrency. The name of the project isweb5′ will be listed. In addition, the statements made state that Web3, which uses cryptocurrencies and blockchain, has the right goals; but it was reported that he was using the wrong tool.

Accordingly, unlike Web3, Web5 has only a single blockchain; ie it will base Bitcoin and based on identity It becomes a system. According to a Twitter user named Namcios, this new alternative is “A public DID network running on the Bitcoin blockchain” will use the ION described as: DID stands for Decentralized identifier.verifiable, decentralized digital identityLet’s add that it is defined as ‘.

Dorsey has been critical of Web3 in his previous statements and that this version of the Internet has never really been ‘decentralized’. can’t reach He had said he was thinking. For this reason, it can be said that the famous billionaire turned to the project “Web5”.

Finally, the new Web5 ecosystem will resist censorship and users will have their own control over their data and identity It was also one of the statements that it promised to provide a decentralized application to developers and that it would have a BTC-based money network. In addition, it was mentioned that Web5 will take advantage of DWN (Decentralized Web Node), the data collection transmission mechanism, so that users can use data associated with a particular DID.