- Blockchain Council
- September 16, 2022
With each technological disruption, we, as a society, are transforming the way we work, interact, and earn. The more we shift toward the digital economy, the more we expand our potential to create usable and accessible products. The internet is undeniably one of the most significant examples of human ingenuity in the modern era. Thriving as a major disruption in and of itself, the Internet has evolved through developmental changes to reach its present version.
Interestingly, while we are still in the early stages of Web3 development, former Twitter CEO Jack Dorsey coined the word Web 5.0. He proposed developing an “ultra decentralized” internet version. Though it will walk the same path as Web3, Web 5.0 will still be different from its predecessors.
So, by now, you must be curious to know what Web 5.0 is and how it would be different from Web 3.0. Well, we have got you covered. Those who have acquired web3 education will quickly understand the concept of Web5. For those who don’t know about Web 3.0, we have tried to explain it here for a better understanding of Web5 concepts. So let’s start
How did the Internet evolve?
The World Wide Web we see today did not evolve overnight. It took decades of tireless efforts to transform it into a gigantic loop that covers anything and everything. So, before moving to Web 5.0, let’s understand how this evolution took place.
Web 1.0 was the most basic structure of the Internet. It involved a small number of individuals producing web pages filled with information. The earliest version of the Internet is recognized as ‘read-only’ because the readers could only read the data fed to them. There was no room for modifications, additions, or exchange of information amongst individuals.
This version of the Internet was the ‘read-and-write’ version. It allows users to create digital content and securely share it across geographical realms. Web 2.0 focuses on user-generated content, socialization, and interoperability between resources. We are presently using this Internet version.
Web 2.0 is often addressed as the social web because it unlocks the power of social media and interactivity. It helped creators to come out of their shells and spill their creative juices on the web.
Interestingly, Web 2.0 came with its own share of complications that eventually hinted at the need for an upgrade. In Web2, the entire power to control data lies in the hands of a few tech magnates. The business giants play with the web data flow as per their choice, making user privacy a big issue for the socially-active society.
With the evolution of cryptocurrencies and blockchain technology, the importance of decentralization was realized by experts. This ignited the curiosity to manifest a fully decentralized, user-centric, and independent Internet. Through constant efforts, we managed to lay the foundation of Web 3.0, the decentralized web.
The Web3 expert community states that the technology revolves around three pivotal resources:
A semantic web is one in which search and analysis-based content creation, sharing, and connections are made possible by web technology. Instead of using numbers and keywords, it allows machines to emphasize word understanding. Web3 encourages machines to be receptive to commands in a human-like fashion.
Decentralized Ledger Technology forms an inevitable part of the Web3 cluster. It offers security, transparency, and immutability to the decentralized web structure. Blockchain eliminates third-party interferences in the validation of transactions. Network nodes validate transactions on a blockchain, making it free from outside intrusions.
Web3 uses machine learning and AI to develop a smarter and more receptive web version meeting user demands. Artificial Intelligence, Web 3.0, and Natural Language Processing, when combined together, can lay out a web cluster that enhances the responsiveness of machines towards human commands.
Internet of Things
Web3 enhances the interconnectedness existing between the millions of devices linked to the IoT network. Semantic metadata makes this procedure possible, allowing for efficiently exploiting all available data. In addition, anyone can access the Internet from anywhere at any time without a computer or other smart device.
Web 4.0 is still a bubble looming over our heads but has no fixed form or structure. It is evident that we are drifting towards this version of the Internet; however, we cannot say that out loud confidently. No name or standard is announced for it, only hints and speculations. Interestingly, Web 4.0 discusses the ‘active web,’ which emphasizes human-robot interactions. Humans will similarly interact with machines as humans communicate with each other. Decentralization will make the Internet more transparent. All the transactions and activities will be traceable.
With Web 4.0, humans and robots will have a unique symbiotic relationship. These virtual assistants will be able to comprehend spoken and written natural language easily. We will be able to communicate with them like real assistants. Web4 will facilitate advanced versions of voice assistance and flexible communication between humans and machines/robots. Data accuracy, reliability, and speedy processing will support Web 4.0 expansion.
Now, let’s move to our main topic, Web 5.0!!!
What is Web 5.0?
Jack Dorsey, the former CEO of Twitter, brought the tech space to a standstill when he coined the term Web 5.0. Also recognized as the founder of payment firm Block Inc., Jack shared his plans of working on the next version of the decentralized web called Web 5.0. The new decentralized web platform intends to give users the freedom to “control data and their digital identities.” Early in June 2022, it was revealed that TBD would be creating Web 5.0. TBD is the subsidiary unit of Block, Inc. that focuses on Bitcoin evolution.
Internet 5.0 or Web 5.0 is intended to be a web ecosystem that will be a notch higher than its predecessors in terms of working paradigms. It will incubate decentralization, blockchain, AI, IoT, and cryptocurrencies in the rawest form. Web5 strives to enable developers to build DApps with empirical credentials and decentralized nodes. The ultimate aim of creating Web 5.0 is to take back ownership from the few industrial magnates and rest it in the hands of the users.
Combining Web 2.0 and Web 3.0, Web 5.0 will put an emphasis on building a network of linked websites that is not just smart but also emotional. This initiative aims to create an emotional understanding between humans and machines. The concept revolves around the idea of independence and control. With its interactive working,
Web5 will provide users with complete ownership of data and the freedom to use, exchange, and earn from it. It will also emphasize data privacy so that business entities cannot rob users of their personal information. The present Internet version lacks emotional intelligence. Web 4.0 aims to focus on building connections between computers and machines. With Web 5.0, you can expect a revolutionary shift in this paradigm.
How will Web 5.0 Work?
Virtual assistants can anticipate user demands by observing their behaviour, emotions, and other human aspects. They can accurately identify what users need even when they do not get full commands in the form of keywords. Web 5.0 is essentially a more comprehensive version of a predictive virtual assistant. This upgraded version of the web will be able to read various bits of data on far more intricate levels, resulting in conclusions involving human logic and emotions.
Notably, Dorsey’s Web 5.0 will place a far greater emphasis on the needs of the users. They will be the main characters in the cluster. It is ought to offer each user a wholly unique and distinctive experience. The interactions would differ from person to person if it can recognise a person’s emotions and produce the appropriate reaction.
Web 5.0 will nurture a symbiotic relationship between technological resources, web, and humans. Emphasis will be to incorporate a system that will cater to the users’ everyday requirements through active reception from machines. This will happen when the web will be inextricably linked to the users’ everyday life hustle. Computers are now able to speak in ways that are akin to human speech via artificial intelligence (AI). This innovation makes it possible for computers to reason, consider options, and then reply with user input. So, when Web5 will infuse the goodness of AI, blockchain, and IoT we can only speculate the revolution it will accelerate across the globe.
Salient Features of Web 5.0
Ownership of Data
As mentioned above, Web 5.0 fosters to offer complete ownership to users. Similar to Web3, Web5 focuses efforts on taking power from the hands of the few people who controlled data flow in the earlier versions of the web. In the decentralized web, the power to own, exchange, and use data to earn will entirely vest with users. Let’s take an example to understand this:
Suppose, Reev is a music lover who loves online streaming. The youngster likes exploring multiple music portals but hesitates to provide his personal information with one particular streaming platform. This particular personal storage system will compel Reev to create the same playlist of songs for each streaming app he uses.
Now, in Web5, Reev will be able to store his information on a decentralized web node. This will help him to offer each streaming app with access to his choices and settings. On each music platform, Reev will now enjoy an automatic updation of his personalized songs.
Freedom to control Identity
Allowing users to control their digital identities is one of the key use cases for Web 5.0. For instance, let’s consider the case of Steeve. Steeve has a digital wallet that securely handles his data, permissions, and identity for building connections with the third-party portals.
Steeve enters his sign-in information into a decentralized social media application using this wallet. He won’t have to bother with creating a profile as this application has been linked to his identity. The decentralized web node stores all of the postings, connections, and relationships that are made using the app. Steeve has the option to shuffle between applications at her will, in which case his social profile would always follow him.
Perks of using Web 5.0
Web5 is likely to offer the following benefits to its users:
- With this web version, there will be more emphasis on building emotionally responsive web resources. This will help to increase interaction between humans and machines. It will make the Internet more user-centered.
- The online retail sector will be able to adjust to the emotive nature of the internet and engage users in real-time conversations.
- Web 5.0 is planned to be a fully decentralized platform that runs on the Bitcoin architecture and is powered by the blockchain. Thus, it will come packed with architectural brilliance similar to the BTC blockchain network.
- Web5 will foster higher levels of decentralization in its ecosystem. The platform will help users to keep intact the privacy of their data and identities.
Web 5.0 is a revolutionary force that Jack Dorsey is willing to gift the world. The platform promises to provide people the power to own and control their data and identity. Despite the fact that its technology is still under development, Web5 is creating undercurrents in the world of technology. Web 5.0 will give users seamless access to a wallet that will store all their data securely within a decentralized environment. The visionary platform is likely to unlock the next-generation Internet that will be more receptive and interactive to human needs and commands.
You can visit Blockchain Council’s official website to look for web3 certification courses. Each Web3 course program focuses on developing the conceptual and practical knowledge of the participants. The courses explain each concept related to the industry in a simple yet effective way so as to create a strong foundation for the learners.