Web2+Web3=Web5, Twitter Co-founder's Blockchain Company Block Launches Decentralized Web Platform

Twitter founder payment company Block (formerly known as Square)'s blockchain team TBD unveiled a new term, Web5, at the Texas Consensus conference. TBD's head, Mike Brock, stated that Web5 is not just two steps better than Web3, but will also aim to defeat existing models by abandoning blockchain centralization and achieving an uncensored, identity-centric online experience.

Web2+Web3=Web5?

Web5 is described on the web as: creating a more decentralized network that allows you to control your own data and identity. The internet has democratized the exchange of information, but lacks a crucial element: identity. We are troubled by the need to remember hundreds of accounts and passwords to consolidate personal data. However, current internet identities and personal data are assets of third parties. Web5 can bring decentralized identity and data storage to your applications, allowing developers to focus on a better user experience while returning ownership of identity and data storage to individuals.

Web5 has several key elements:

• Decentralized identifiers
• Decentralized network nodes
• Sovereign identity services
• Sovereign identity SDK

Perhaps due to speculation, Mike Brock, the person in charge, stated that Web5 will not have tokens.

Furthermore, in response to the statements about Web5 and anti-Web3 VC, Curve Finance replied to Jack Dorsey stating: "This is not a good idea. Web3 is the money of the internet, while Web5 is actually what decentralized Web2 needs. They are different use cases."