Thread by @dilcapital

Jack Dorsey (@jack) just launched #web5 with @TBD54566975. So what is Web5?

Here's what little we know about why and what @jack is building 👇🏼🧵

@jack @TBD54566975 If you've been spending any time in #web3. You know that @jack has been a hardcore Web3 skeptic and #Bitcoin maxi

https://twitter.com/jack/status/1473139010197508098

@jack @TBD54566975 So what is he doing with Web5?

Basically in short, its supposed to solve what web3 purpotes to solve but actually do it.

Trying to be a so called open-source public good instead of a VC-backed pseudo-centralized solution.

@jack @TBD54566975 Web5 aims to give users back control of their Identity and Personal Data. It also wants to make that data portable.

It aims to do so by building identity and storage right into the foundation and Jack being Jack, that foundation is of course #Bitcoin

@jack @TBD54566975 If this sounds super familiar, you're not wrong as it's smth that #web3 has been promising for sometime as well.

On the $ETH side, teams like @discoxyz , @poapxyz , @lensprotocol and even Vitalik's soulbound NFTs are attempting different approaches to this problem

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol But back to Web5, an example:

As a user, you can think of it as the ability to join a social network without having to "sign up". Just by giving permission to the app to access your "identity",

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol all the connections, posts and relationships you make will be stored as datapoints that you can bring with you to another social platform if you get tired of this on or if this platform misbehaves.

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol So how does Web5 do this?

Through a combination of 3 things:
1. Decentralized Identifiers (DIDs)
2. Decentralized Web Nodes (DWNs)
3. Decentralized Web Apps (DWAs)

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol 1. DIDs refers a self-owned, self-generated, censorship resistant "identity". Web5 leverages ION, an open, permissionless DID network that runs atop #Bitcoin.

It relies on public / private key cryptography and does not require tokens, validators.

blog.ipfs.io/ion-a-path-to-…

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol 2. Decentralized Web Nodes (DWNs) - Refers to datastores tied to your identity that can be used to hold, transmit and locate public and encrypted data. You can also use it to to locate data alinked to a given DID

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol 3. Decentralized Web Apps (DWAs) are a modified type of PWA. They are built on top of this Web5 identity / data layer.

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol Seems like these apps can be built similar to web2 PWAs with the slight diff of calling for identity / personal data from the decentralized nodes with permission frm user

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol With provided SDKs, devs can build apps tapping into these digital identities and decentralized storage of personal data right out of the box.

It seems like it's promising to be a better user / dev experience compared to existing solutions.

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol One key thing to note for all you degens is that there are not gonna be any tokens associated with web5. Which is pretty on brand for @jack who's been against much of the financialization we've seen in web3.

https://twitter.com/brockm/status/1535328599200477184?s=20&t=RKfAGGJFO8C5sHPO09GeIg

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol Seems like #web6 is also launching soon from @SnoopDogg

https://twitter.com/SnoopDogg/status/1535386263041155106?s=20&t=RKfAGGJFO8C5sHPO09GeIg

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol @SnoopDogg While I'm personally an $ETH boi, anytime someone tells me they are building something to make it easier for regular users to enter and participate in this new decentralized paradigm, I'm inclined to listen and learn more.

@jack @TBD54566975 @discoxyz @poapxyz @LensProtocol @SnoopDogg Hats off to @jack and team as well for putting the resources and time into backing his own view of the world.

Looking forward to see what @jack and @TBD54566975 has in store for us in the next couple months.

If you liked this thread, please consider retweeting the first post 🙏

https://twitter.com/dilcapital/status/1535985291596546049?s=20&t=9pUNVOnZUyc4UKc4oo7-8g

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