Web 5.0 Discussion Thread.

[Pusang Gala]

So, just saw this on twitter. Feel free to drop your opinions.

 

[Adriot]

So you think every sold domains is being reported on namebio. If ur stats is base on namebio data alone.. Then i understand your point. I have sold lots of names and for once i didnt submit on namebio likewise some domainers too. You are entitled to your opinion mate

 

[kalr]

1. This new decentralized web leverages Bitcoin to put users back in control of their data and identity - once and for all.

Here’s a thread with all you need to know

2. Web5 takes a different approach than Web3.

While Web3 aims to “blockchain” and “tokenize” all things, Web5 uses just one blockchain - Bitcoin - for one specific use case: identity.

Blockchains are not efficient and as such it might not make sense to use it for everything.


3. TBD’s Web5 is made up of software components.

These pieces let developers focus on building user experiences while enabling decentralized identity and data storage in apps.

It leverages existing decentralized tech with no blockchains other than Bitcoin

The components are…

4. Decentralized Identifiers (DIDs).

Web5 leverages ION - an open, public and permissionless DID network that runs atop the Bitcoin blockchain.

It’s based on the Sidetree protocol which doesn’t require tokens, trusted validators or additional consensus mechanisms to function.

5. Decentralized Web Node (DWN).

Web5’s DWN is a reference implementation of a draft specification.

It’s a mechanism for data storage and message transmission that participants can use to locate data linked to a given DID.

TBD wants to produce a v1.0 of this by July 1, 2022.

6. Self-Sovereign Identity Service (SSIS).

The SSIS interacts with Verifiable Credentials by creating, signing, issuing, curating, requesting, revoking, exchanging, validating and verifying them.

It wraps the next component on the list, the self-sovereign identity SDK…

7. Self-Sovereign Identity SDK

The ssi-sdk encapsulates self-sovereign identity standards.

It aims to provide flexible functionality based on such standards for building DID apps in a modular way - with limited dependencies between components.

- Jack Dorsey -

 

[karmaco]

Got 2 names but only because I like the number 5.

We need an AA for domainers guys bunch of enablers I tell you…lolz

 

[subjot]

Web5AI//com
Web5Bets//com
Web5Card//com
Web5Guru//com
Web5Atlas//com
Web5Home//com
Web5Homes//com
Web5Fashion//com
Web5Currency//com


Web55//xyz
Web5Bet//xyz
Web5Bets//xyz
Web5Dev//xyz
Web5NFTs//xyz
Web5Devs//xyz
Web5News//xyz
LearnWeb5//xyz
Web5Creator//xyz
Web5Fashion//xyz
Web5Creators//xyz

 

[Adriot]

Will quote ur statement wen d rain start falling

 

[Andreas B.]

Mad about good domains. Not mad about people throwing their money down the grid.

clearly you seem to have no idea about web5 and the tech behind it.

web5 does not mean, that web3 vanishes.

web5 is solely there for getting a real decentralized experience,
when using websites / platforms on the net
(> your data is not being stored on a webserver, but solely on the keys which you own yourself).

something, web3 (altcoin tokens) cannot achieve to this maximum.

Web5 will be used for sign up / login purposes on dec. websites (dapps, or dwa's).

This is the best explanation I could found of what web5 is:

 

[Andreas B.]

Lol. If you have to explain it then it ain't happening.

Don't understand your logic.

There is nothing you have to explain:

It's a buzz word for an important niche.

Making your data decentralized and not part of the ownership of a tech platform.

Something, you (most likely) won't be able to achieve with web3 as it is today.

All thanks to Proof of Stake (it must be: fast in transfer, green in production, cheap etc).

Sry, that way you sacrifice real decentralization.

Pros know that btc was made with the intention, to have deal with small blocks, that must be progressed via the blockchain; and which takes time + energy.

Even new cryptos like Monero couldn't achieve that;
hence btc will most likely stay the all time classic ; )

 

[Andreas B.]

Thanks... And coming back to domains (because this is a domain forum) given that web5 is the name of a project, wouldn't that mean that it's not the same as regging web3 domains? Is regging web5 domains the equivalent to regging the name of any other institution? Where's the money in that??

And even if web5 were a standard (it is not) instead of the name of a project, isn't it's use case a tiny bit too narrow to justify regging all these domains?

Decentralized ID is a tiny industry that isn't going to affect the way the web works in a profound way. It's probably not going to give rise to new industries like Web3. But regardless, it's the name of a project not a web standard like web3

Is it just me or does this thread look like another money toilet?

you wish it would be like that, right?!

No.
web5 is the elite version for a real decentralized internet, other than web3 (which , technically, cannot make it to this max).
Yes, web5 is a 'project' as you call it, but
a) it is open source - you can add or modify anything, you can grab and built upon it
b) it depends on btc, which is by nature (max.) decentralized and not ruled / governed by anyone other than all users together
c) it is a fantastic idea

Web3 as common term is just another word for metaverse, that's right.
web5 is about to become its own niche for security, anonymousy, ID verification upon user login and max. decentralization.

Maybe you or others don't like it, but that's how it evolves right now.

 

[Andreas B.]

And this is the main problem, next to Proof of Stake:
Ownership of most coins in web3 is by far in hands of VC's, or a few decision makers (as ex. Ethereum).
btc on the other hand, has no problems like this, plus uses Proof of Work for ever.

There used to be a conglomerate that wanted to change the way btc works (have higher blocks proceeded, so transactions happen faster), but they couldn't because the huge community didn't want to.
This is what you call immutable.
(smaller blocks are needed, so that anybody can store the btc blockchain and check the transactions.
with bigger blocks, this couldn't be possible and only big companies/exchanges could check the blockchain on its trustworthy).

https://twitter.com/x/status/1394298624906047491

 

[silentg]

Official announcement from W3C regarding DIDs

https://twitter.com/x/status/1549368259878723585

 

[Pusang Gala]

https:/twitter.com/TBD54566975/status/1535303403361824768

 

[kalr]

Welcome to Web5.

TLD Reg Count​

soon it will boom

 

[bmugford]

IMO , Web"4" might be refer to death ( chinese myth) or Jack avoid "4" to attract chinese attention, especially for big investors.

Or, it is just a load of hype and trendy buzz words.

Brad

 

[Sumeeth]

Web5 id com - seems under development

 

[Rhinnnn]

From one of the main guys working on Web5:

 

[bmugford]

From one of the main guys working on Web5:

Show attachment 217601

Well, I guess that is good but Bitcoin and all over crypto have really tanked. Many are down 80%-90% (or more) from the peak. Usable currencies simply can't be that unstable.

The Web 3, Web 5, Web 99 money is going to start drying up with less interest and higher interest rates.

You are probably going to see less of "celebrities" promoting every random shitcoin and stupid NFT rug pull.

All this stuff is largely irrelevant. The average person is not going to learn all this technical stuff.

It will be ready for prime time when the average person doesn't really have to do much different.

Brad

 

[Andreas B.]

Just like @bmugford has stated in this thread, if the average Joe will not understand what web5 is, it is doomed. You cannot simply build tech for 10 people who understand what you are saying or thinking.

Nope.
I just said, it is most likely to be successful within a (its) niche.
Means, id. management etc.

Regarding the average user:
It does not depend on him, but on which tech developers (!) are most comfortable to work with.

If the majority chooses solution a over b, gets skilled by working with it etc, the whole infrastructure will be built upon it/using it.

(Very hard to replace it once it is in common use).

 

[Samer]

Is Web5 so amazing it just skipped Web4?

Web3
2021 - 2022 RIP

Brad

Brad, why did Windows 10 skip 9?

 

[Sumeeth]

I was a bit late to the registration but grabbed a few below ones and others. Hope will sell few -

Web5 id . io
Web5 Id . co
Web5 Id . org
Web5 Identity . io
Web5 Identity . co
Web5 Identity . net
Web5 Ids . com
Web5-ID . com
Web5-Identity . com
Web5 Identities . com
Web5 Identifier . com
Web5 Did . io
Web5 Did . co
Web5 Did . net
Build Web5 . com
The Web5 id . com
Web5-Did . com
My Web5 id . com
Web5 Vault . com
Decentralized Web5 . com
Web-5 . io
Web-5 . co
Web-5 . id
Web-5 . network
Web5 Login . io
Web5 Dapp . xyz
Web5 . co.com
Web5 .com.in

Thanks,

 

[sellian]

it's the fact that no normal person cares about it and never will

How can you be so sure of this? For instance, my mother already “understands“ crypto and the blockchain at her level and she's the least tech-minded person I know.

I honestly don't see what could prevent people like my mom to understand concepts like webs 2, 3, 5, etc

Think that your average user cares what protocol or paradigm is being used?

Have you seen the number of “average people“ that entered the crypto space during the last bull markets? In which case, don't you think that the company crypto.com made a good decision by acquiring that domain and branding their company as such?

 

[TCK]

Web 3/5 do sound like hyped up terms indeed. Web 2.0 was very different. It was coined by Tim O'Reilly as a result of many emerging tech on many fronts and not one or two specific tech. It was not a prelude to what was about to occur but what was already occurring in the world of Web tech. Primarily due to Web standards and mobile Web. Everyone wants to see decentralization of data and self-sovereignty of identity become mainstream. But there needs to be a similar progression of standards and tech developers integrating those concepts, blockchain and crypto wallets, as a layer to the existing Web. It's all about the experience. The Web should not be disrupted by this tech but enhanced.

It is very clear that people in general are not too concerned that FB or Google or Amazon own their personal data. But if given the option that their data is owned and controlled by them as users yet not have the services they enjoy using disrupted would be very attractive and high on their list of importance.

 

[Sumeeth]

https://twitter.com/x/status/1535999323732815872

 

[Andreas B.]

Strange that some people, who don't like web5 and hold no domains in it,
filled this thread up with trash & pollution,
are still very interested in commenting here....

Whatever ;

 

[Andreas B.]

Is it a project by Jack Dorsey or a new standard or vision for the web? It looks to me like it's only a project by Jack Dorsey. Please correct me if I'm wrong, because this looks as STUPID as regging Twitter domains to me. I am just trying to understand here. All I'm reading is about a project named Web5 that is advancing decentralized identity, which is extremely limited compared to what Web3 is supposed to be about, if I understand correctly.

yeah,
web3 is quite limited when it comes to decentralization, compared to web5.

TBD, I think a company where Dorsey is CEO, is developing it, that is correct.

However, it is fully open source - so it is not a VC project or anything a like; it is a community project, where other developers can participate with fully.

Initially, it was developed by a team over at microsoft.
Some of the lead developers switched over to TBD.

There is not much to explain about the idea of web5:
It is solely based on btc, which is the most decentralized chain out there
(as it uses Proof of Work, other than most other coins which use Proof of Stake, and which tends to become more centralized over time).

With web5 you'll be able to fully anonymously login into websites like facebook, youtube etc.
Your data will not be stored on centralized servers any more,
hence no one collects it, there is no personalized advertisement, aso.
You keep your password completely for yourself.

It will take some time until some projects will emerge using web5, as they just started now.

But, as far as I know, big companies, which already use onion links (for ex. facebook or google),
will for sure think about giving users the ability to sign up via web5.

As: The main question is, what will be the first web5 style facebook, youtube, google etc.

 

[Adriot]

I had 1 offer on web5. Web5mag.xyz compared to web3 where I have 26 sales this year. Web3 is obviously the better network effect play.

Web5 is still much new.. So dont expect anything soon.. And also some keywords wont fly because they are not just relate to the trend. You cant reg Web5shoe, Web5cloth and be expecting offer.