Topic: Is Web5 a "buzzword"? (Read 307 times)

There are many smart contract projects built on top of the Bitcoin blockchain. But they're separate solutions. The main Bitcoin blockchain has only one function and that is to serve as a currency anyone can use as payment for goods and/or services. It would be insane to use the main chain for the Web, as that would increase fees by a large margin. Only sidechains and/or off-chain scaling solutions will do the trick.

With the RGB Protocol, Taro, and even RSK, we don't need to look elsewhere. Jack Dorsey's dream might come true if Web 3.0 is perfected, but I think we're still too early to talk about the next iteration of the Web. Who knows what the future holds for this emerging industry? Just my opinion

Ethereum made its way as a pioneer to make smart contract works like a charm within cryptocurrency spaces, without a doubt it might be the leading one. But, that doesn't mean there is not any development or progress that being made within the Bitcoin ecosystem.

If we take a look at the RGB protocol or Taro, the project may be in its infancy, but still, progress is still being developed, so we could see the potential of smart contracts exists in the Bitcoin ecosystem.

Exactly. Bitcoin isn't Turing-complete, so the only way Web5 will work is through sidechains or off-chain scaling solutions. But I think we should leave all of this to ETH and its variants, as they're well-suited for this purpose. Bitcoin works better as a single-purpose tool (currency) than anything else. Web 3.0 is still in its infancy, so there's a long road ahead before we can even think about the next iteration of the Web. Even Web2 hasn't been phased out completely from existence.

First and foremost it depends on how exactly you define Turing-completeness. In simple words you can say that RGB is as Turing-complete as Ethereum.

Firstly, Bitcoin isn't Turing complete and hence any kind of computations to run on top of Bitcoin is almost impossible to be carried out. This was one among the primary  reason behind the creation of Ethereum. Only recently, An year back we were truly able to define the meaning of Web3 with the widespread usage of Defi and NFTs. However, "web5" as coined by Jack is less likely to become popular, as developers won't be in a position to utilize the Bitcoin blockchain to it's full potential without being Turing complete. With Ethereum migrating to POS, we will be able to witness the centralization slowly gaining momentum and as a result developers will be coming up with newer ways to mitigate the issues.

On the other hand, it will take some time for Web2 users to be migrated to Web3 as the terminologies and functionalities are completely different from general web development and requires extra efforts for the developers to be onboarded for building dapps. As you have stated, web5 is a maximalist perception and viewpoint to bring new investors but on the whole, Bitcoin will continue to exist as Digital Gold as it isn't Turning Complete and Ethereum would continue the way it functions as a platform for developers to build decentralized applications!

A while ago, Jack Dorsey proposed a new solution to truly decentralize the web. He calls it "Web5". Apparently, this will be Web 3.0's successor powered by the Bitcoin blockchain itself. From a maximalist point of view, this would mean Bitcoin will be used for everything you do around the web. It will act not only as a currency, but also as a platform for decentralized applications, ownership registry, decentralized identities, and more. Isn't this what Ethereum and other copycat smart contract platforms (BNB, Cardano, TRON...) are doing? If so, then "Web5" would be no different than "Web 3.0" itself. It could be a catch phrase to lure as much investors into Jack Dorsey's little project.

What do you think? Is Web5 really a catch phrase? Or is it completely different from Web 3.0? Do you think we may be too early to replace "Web 3.0" even when the world is stuck with Web 2.0? Your input will be greatly appreciated. Thank you.

We can't start thinking about the next iteration of the Web when previous versions aren't even mature for mainstream use. Web 3.0 is just starting to blossom, so the only way Web5 will come into fruition is if Web 3.0 is perfected. There are a lot of issues that need to be solved and a lot of things to be discovered for Web 3.0 to become a force to reckon with. Who knows what the future holds for the entire cyberspace?



Jack Dorsey is just improvising how the next version of the Web would be. There's nothing set in stone that would completely replace Web 3.0. I think we're still too early to think about designing a new version of the Web. Bitcoin may be the currency of the Internet, but it isn't an "All-in-one" solution. Making Web5 run within the BTC blockchain is a bad idea in my opinion. They could use the Lightning Network, but you'd still need to deal with on-chain fees at some point. Imagine how slow and expensive Bitcoin will be if everyone around the world used it on a daily basis. For this and many other reasons, I believe Web5 will ultimately fail. No one can predict the future so either Web5 will materialize or another version will take its place.
[Think so its a buzz. But lots of technicalities are evolving. many platforms are trying to create. Have you heard of mallconomy, web based and expanding its web version]

Just a buzzword for now.

I would like to know how Dorsey even thinks it should work. Just saying that something is decentralized or is powered by blockchain doesn't really say anything. You need to build it first as not even tech for something like that exist. Not one that would justify "powering" it by blockchain what ever that even means.

So say, Web 3.0 is way different from Web 5.0.  Web 3.0 is more focus on the read-write-execution and still at a development stage while Web 5.0 is way more complex that takes advantage of emotional intelligence.  I don't think that it is only a catchphrase but rather that person took advantage of technology in early development and forcibly attached himself to it by announcing a project called web5.

What do you think? Is Web5 really a catch phrase? Or is it completely different from Web 3.0?

Do you think we may be too early to replace "Web 3.0" even when the world is stuck with Web 2.0? Your input will be greatly appreciated. Thank you.

I don't fully understand what web3 is, and I even less understand what web5 is. I think this technology is still a long way off, because cryptocurrency is still in its infancy and is not much in demand in everyday life. A lot of people, probably even all people, are satisfied with the usual Internet. Blockchain is useful, but there are many cases where it is not necessary.

A while ago, Jack Dorsey proposed a new solution to truly decentralize the web. He calls it "Web5". Apparently, this will be Web 3.0's successor powered by the Bitcoin blockchain itself. From a maximalist point of view, this would mean Bitcoin will be used for everything you do around the web. It will act not only as a currency, but also as a platform for decentralized applications, ownership registry, decentralized identities, and more. Isn't this what Ethereum and other copycat smart contract platforms (BNB, Cardano, TRON...) are doing? If so, then "Web5" would be no different than "Web 3.0" itself. It could be a catch phrase to lure as much investors into Jack Dorsey's little project.

What do you think? Is Web5 really a catch phrase? Or is it completely different from Web 3.0? Do you think we may be too early to replace "Web 3.0" even when the world is stuck with Web 2.0? Your input will be greatly appreciated. Thank you.

I don’t care what they call it. I just hope they figure out a way to get new users to care about Bitcoin again. It’s starting to feel like nobody owns Bitcoin outside of fund managers these days. You can walk into a bar and nearly everyone will have some shitcoin with a crazy use case to pitch you but nobody owns Bitcoin. It’s viewed as a coin you need to buy shitcoins, but with the popularity of USDT & USDC, people don’t even need BTC for that anymore. Call it web69 if you want… If people can’t login to their Facebook accounts with a signed Bitcoin message before they can connect a metamask, you can kiss goodbye the next generation of Bitcoiner… Our toxic leaders are dragging us down the path of the Beta tape & 8-track. I hope the first mover crypto advantage and decentralized talking points can hold up long term because the toxic maximalism won’t.

ect.
What do you think? Is Web5 really a catch phrase? Or is it completely different from Web 3.0? Do you think we may be too early to replace "Web 3.0" even when the world is stuck with Web 2.0? Your input will be greatly appreciated. Thank you.