TBD’s Web5 takes a different approach than Web3 on how to build a properly decentralized internet, with Bitcoin being the single blockchain used in the project.
Jack Dorsey’s Bitcoin-focused TBD business unit, a subsidiary of Block Inc., announced Friday that it is building a new decentralized web: Web5.
Web5 is based on the assumption that Web3, the idea of building a decentralized web with blockchain technology and cryptocurrencies, has the right intentions but is using the wrong tools.
TBD’s goal is to produce a first version of the current draft specification along with a reference implementation by July 1, 2022.
Contributions from the development community are welcome. Interested developers can submit proposals as pull requests to the GitHub repository. Likewise, issues can also be submitted on the same GitHub repository.
Self-Sovereign Identity Service
Web5’s SSIS is a web service that wraps the ssi-sdk.
The SSIS interacts with the standards around verifiable credentials, credential revocations, requesting credentials, exchanging credentials, data schemas for credentials and other verifiable data, messaging using DWN and usage of DIDs.
“Using these core standards, the SSIS enables robust functionality to facilitate all verifiable interactions such as creating, signing, issuing, curating, requesting, revoking, exchanging, validating, verifying credentials in varying degrees of complexity,” per its webpage.
Self-Sovereign Identity SDK
The ssi-sdk encapsulates standards related to self-sovereign identity.
“The ssi-sdk intends to provide flexible functionality based on a set of standards-based primitives for building decentralized identity applications in a modular manner: with limited dependencies between components,” per its webpage.