People are still figuring out Web3. That means Jack Dorsey is jumping the gun by talking about Web5.
The concept of Web5 first emerged earlier this year with Jack Dorsey’sabout plans to build a decentralized web on Bitcoin's blockchain through Block subsidiary TBD. According to Dorsey's TBD white paper, Web5 will be “a trustless, decentralized internet platform where users own their data” as opposed to Web3, which is mostly centered around Ethereum and a select few centralized blockchain networks.
While this clearly shows that it would take a lot for Web3 to catch up, it also indicates that Web3 and the metaverse have a huge potential yet to be realized.One of the biggest bottlenecks that Web3 is facing is the lack of developer talent. The industry is still in its nascent stages, and the number of experienced developers is still very low.
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