The world is rapidly evolving, and technology is no exception. Web5 promises to bring revolution to the existing internet and comes as an alternative solution to Web3, which is, according to the creator of Web5, not genuinely decentralized since different corporations control the users’ identifiers. It is expected that Web5 will be able to sensor, record, and communicate the entire range of human emotions, thus providing each user with a personalized experience.
However, Web5 is in its conceptual phase, and we still don’t know what to expect from the project. Will it provide the level of customization it promises? Will it have the same level of privacy and security that Web3 does? In this article, we offer a general introduction to this breakthrough technology; we’ll explore what Web5 is, how it works in practice, and the reality of its potential.
What is Web5?
Web5 is the next evolution of the Internet, developed by Twitter co-founder Jack Dorsey. It is an ambitious and groundbreaking project that has been in the works for the past two years. Web5 aims to create an absolutely decentralized and user-centered Internet. This means that users will have more control over their data and its use, as well as a more secure way to access and interact with the online world.
Additionally, Web5 provides a platform for developers to build more innovative and user-friendly products by utilizing distributed ledger technology. With Web5, users can also benefit from enhanced privacy, security, scalability, and resilience. Web5 technology is a revolutionary development that has the potential to revolutionize the way people interact with the online world, much as the fiat vs. crypto battle changed the world of finance.
How is Web3 Different from Web5?
Web3 and Web5 are both projects that focus on achieving decentralized Internet and operate on open-source, peer-to-peer systems. However, the main difference between them is that Web3 technology relies on accounts provided by companies that hold customer data captive in app silos. These companies act as intermediaries, creating a barrier between users and their personal data.
In contrast, Web5 seeks to revolutionize this landscape by pushing for a new class of decentralized apps and protocols. These apps allow individual users to retain total control of their personal data, providing a secure and transparent way for users to access services, exchange information, and make payments without having to give control of their identifiers to third-party intermediaries. Web5 enables self-sovereign digital identity, where users can easily manage and keep track of their personal data without any external validation. Furthermore, Web5 also provides a decentralized system of governance, giving users more power over how their data is used and shared.
The Expectations Placed on Web5
Web5 promises to revolutionize the web experience by giving users complete control over their digital identities and credentials, decentralized web nodes for data storage, and relaying messages. This is a significant shift from the current centralized system in which people’s personal identifiers, like names and emails, are owned and controlled by companies.
In addition to decentralization, Web5 aims to be “The Emotional Web”, running on (emotional) interaction between humans and computers to provide a personalized experience with the network. Web5 holds the promise of offering an utterly user-centered experience based on sensing, recording, and reacting to the whole range of human emotions guaranteeing that no two interactions will be the same.
Even though all these concepts sound promising on paper, the truth is that Web5 is truly in diapers. Its future is in the hands of developers who have the challenging task of ensuring that these expectations are met and that Web5 is implemented in a way that meets the needs of users.
