Dogecoin has once again caught the attention of Tesla CEO Elon Musk. Musk supported Dogecoin’s “web69”. “If Jack and Bitcoin can create web5, Dogecoin can create web69,” one Dogecoin user, “Wandrinstar,” wrote in a recent tweet. The tweet caught the attention of former Twitter CEO and Block founder Jack Dorsey. Responded to Elon Musk. Here are the details…
The effort to create “web69” in Dogecoin (DOGE)
Tesla CEO who expressed his views on the decentralized web or “web69” concept on Dogecoin, replied with a “fire” emoji. Dogecoin creator Billy Markus, also known as “Shibetoshi Nakamoto”, also commented on this issue. Markus joked about “web69” in his tweet, “I just want to hang out on web69.” Head of “WallStreetBets” used the following statements in response:
Are you still on web69? Villager. I’m on web420.
web420 and web69 are bros
all the other webs blow
— Shibetoshi Nakamoto (@BillyM2k) June 10, 2022
Markus, while “web420 and web69 are brothers, all other networks are lies ” he replied. Former Twitter CEO Jack Dorsey and Tesla CEO Elon Musk have always been in the same boat regarding their dislike for web 3.0. In fact, Elon Musk never misses an opportunity to crush web3 technology.
Jack Dorsey suggested web5, probably the most important contributor
Kriptokoin.com as we’ve already reported Twitter CEO Jack Dorsey offers an alternative to web3. He claims that web3 has proven to be just as cumbersome as web2 before it. Considered to be a fusion of web2 and web3, Web5 is backed by Block’s creator. The monetary layer of Web5 will be built on Bitcoin. Similar to previous efforts to create a decentralized overlay on the web, web5 will seek to give users a “decentralized identity” that will allow them to move seamlessly from app to app without having to sign in explicitly.
User data will be controlled by users rather than stored in third party products and services and will not be disclosed without their consent. Speaking about the development on Twitter, Block creator Jack Dorsey said, “This will probably be our most important contribution to the internet. I am proud of our team,” he said. In this sense, Dorsey announced the demise of decentralized finance (DeFi), Blockchain-based platforms, and Web3 powered by venture capitalists (VC). VCs were accused of using Web3 to create a narrative and reap financial benefits.
Block’s web5 product will consist of decentralized identities (DID), decentralized web nodes, self-sovereign identity service and self-sovereign identity SDK. The DID link to support the Web5 platform points to ION. Developed by Daniel Buchner, who is currently part of Block’s Decentralized Identity team, ION is a second-layer solution for DIDs powered by the Bitcoin network. This solution works with the same vision behind Web5: without permission, open, third-party validators.
