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2. Intermediate Course

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  1. 1. Ethereum 2.0 - What is it? 
  2. 2. What is cryptocurrency burning?
  3. 3. How to create your own cryptocurrency? 
  4. 4. Blockchain Oracle - what are oracles? 
  5. 5. How to make money with NFT?
  6. 6. What is an ERC20 token and how is it created?
  7. 7. The Metaverse – a new virtual world
  8. 8. Metaverse – TOP 15 virtual reality projects
  9. 9. Technical analysis – is it worth using?
  10. 10. What are DeFi liquidity pools?
  11. 11. Second layer (layer 2) - what is it? 
  12. 12. What are wrapped tokens 
  13. 13. What is the Lightning Network, and how does it work?
  14. 14. What are security tokens?
  15. 15. What is Play-to-Earn (P2E) and how does it work?
  16. 16. What are Social Tokens? 
  17. 17. Examples of the use of WEB3 on the blockchain
  18. 18. What is Web5? 
  19. 19. Ethereum London Hard Fork - what is it ? 
  20. 20. Segregated Witness - what is Segwit Bitcoin all about?
  21. 21. Polkadot - Decentralized blockchain and DOT cryptocurrency
  22. 22. Polkadot Parachain - Next-generation blockchain
  23. 23. Trading order types: stop loss, trailing stop loss, LIMIT
  24. 24. Set up of Stop Loss and Take Profit orders
  25. 25. What are Decentralized Cryptocurrency DEX Exchanges?
  26. 26. What is Curve Finance?
  27. 27. What is GameFi and how does it work?
  28. 28. Non-fungible tokens and NFT exchanges
  29. 29. Cryptocurrency steps - What is move to earn M2E?
  30. 30. What is Proof of Reserves (PoR)? How does it work?
  31. 31. Interoperability in the world of cryptocurrencies and blockchain
  32. 32. Blockchain and its layers - What is layer three in Blockchain (L3)?
  33. 33. What is Layer 0 in Blockchain technology?
  34. 34. What is layer 1 in Blockchain?
  35. 35. What is MakerDAO and DAI Stablecoin?
  36. 36. What is Blockchain sharding?
  37. 37. What is the NFT licence fee?
  38. 38. What is the SubDAO protocol, and how does it work?
  39. 39. The main differences between static NFT and dynamic NFT
  40. 40. What is minting an NFT?
  41. 41. Mainnet versus Testnet on the Blockchain. The complete guide!
  42. 42. What are NFT Ordinals? A guide to Bitcoin NFT.
  43. 43. Market Cap versus Fully Diluted Market Cap - the most important differences you should know!
  44. 44. MINA Protocol: the lightest blockchain in the world!
  45. 45. NFT Gas Fee - what is it? How can you reduce your gas fee?
  46. 46. Liquidity Provider Tokens (LPs). What are they, and why are they so important?
  47. 47. What is KnowOrigin NFT, and how does it work?
  48. 48. What is decentralized social media?
  49. 49. What is the Ethereum Name Service (ENS) and how does it work?
  50. 50. Arbitrum: Ethereum scaling solution - everything you need to know
  51. 51. Ethereum ERC-4337 - what is it and how does this standard work?
  52. 52. Sustainable Blockchain - Proof of Useful Work & Flux
  53. 53. Ethereum Proof-of-Stake (PoS) - what should you know?
  54. 54. Atomic Swap: What is an atomic swap, and how does it work with cryptocurrencies?
  55. 55. What Is Cryptocurrency Vesting? What Are Its Advantages?
  56. 56. What Is the Metaplex Candy Machine Protocol? How Does It Work?
  57. 57. What Is the BNB Greenfield Ecosystem?
  58. 58. Real Yield in DeFi - what is this trend? What does it consist of?
  59. 59. What Is Slashing in Cryptocurrencies?
  60. 60. How to Create Your Own Decentralized Autonomous Organization (DAO)?
  61. 61. The ERC-721X VS ERC-721 Standard – Key Differences!
  62. 62. Royalties – What Are They? How Does This Type of Licensing Fee Work?
  63. 63. Polygon 2.0 - the value layer for the Internet
  64. 64. ERC-6551 - the new NFT standard. What does it bring to the non-exchangeable token sector?
  65. 65. What is TradFi? The importance for cryptocurrencies!
  66. 66. What is the Real World Asset (RWA) trend in cryptocurrencies? Explanation and examples!
  67. 67. Pyth Network: a powerful oracle harnessing the power of Solana!
  68. 68. Vampire Attacks in Decentralized Finance (DeFi): Explanation and Examples
  69. 69. What are stables in the world of cryptocurrencies?
  70. 70. What Is Binance Oracle?
  71. 71. What is NFT Lending all about? An innovative solution in the world of cryptocurrencies!
  72. 72. Shibarium: A new era in the Shiba Inu ecosystem?
  73. 73. What is an ETF? How will an exchange-traded fund on bitcoin work?
  74. 74. Symmetric and asymmetric encryption - key cryptography techniques!
  75. 75. Cosmos SDK: Building the Blockchain Ecosystem
  76. 76. DAO Investment: A revolution in the world of finance and investment
  77. 77. What is cross-chain interoperability in Blockchain technology?
  78. 78. Blockchain trilemma - explanation of the problem. What is the impact on cryptocurrency payments?
Lesson 18 of 78
In Progress

18. What is Web5? 

Web2, Web3, Web4 and now Web5 – technology is changing very fast. If you’re a fan of blockchain, you’ve certainly kept up with it all. If not – that’s what you have us for. 

The Web3 internet concept has been around for seven years. Is it fully fleshed out? It’s not for us to judge. However – there goes a new one. Jack Dorsey has shared his new idea – the Web5 Internet. What is it, and how does it differ from Web3? We invite you to read on! 

The evolution of the ‘Web’

To begin with, a bit of history. Or rather, the history of the evolution of the Internet. Most of us remember very well the first steps taken by Google and the World Wide Web. “The Internet of those days” was characterised by simplicity. Over time, it began to enter the world of more complex technologies and laid the foundations of the web as we have it today. 

After the era of the simple Internet came Web2, a term first used in 1999. It was invented by Darcy DiNucci. The main features of Web2 include: 

Web user-generated content

Ease of use

Connecting people through social networks (remember our classroom days). 

Real-time sharing of information

A specific culture of online participation

After this period, we went one step further – Web3. That is to say, a decentralised network in which its participants have full control over their data. People discover new content, communicate, without fear that the platform they use will reveal their data. Web3 provides complete privacy. The term emerged in 2014 and was used by none other than Ethereum co-founder Gavin Wood

Later we have the turn-off Web4, which is also known as the ‘Mobile Web‘. It has the necessary infrastructure and adapts it to the mobile environment. It allows users the necessary mobility and voice interactions. In the Web4 era, the system user can access and disseminate publicly available information. Regardless of the location they are in. In addition, an interesting aspect of this era of the Internet is the introduction of robots and machines on which everyday life will depend. 

Web5 – the concept 

Web5 will be the next version of the www. Dorsey’s concept is to focus on regaining ownership of data and control of the web. Furthermore, web5 is directed largely at developers. The concept is to make it easier for them to create DWA (decentralised web applications). They use credentials and web nodes that are decentralised and independent. Furthermore, web5 ensures that users will be given full ownership over their personal information and data. We will manage our identities and our data with ease. 

How does the new network work? 

Its main structure is the DWN (Decentralised Web Nodes). It is this that creates the distributed network for the web nodes. These in turn build a Peer-to-Peer network for all users of the next-generation network, Web5. 

Interestingly, it is the user who is responsible for running the DWN on their device. As a result, there is no possibility of a central server or authority being set up to control the databases. Everything works fully decentralised. This approach is followed by another plus of the new concept – users will be forced to interact with each other. 

Privacy. Another concept of the new Internet dimension. As you know, Google or even Facebook have their programmes that take care of the privacy issue of a given user. On Web5 it is a little different. Since it is the users themselves who control their DWN, they are the ones who decide whether to make their data public.

Web5 is supposed to work through Decentralised Identifiers (DIDs). These are unique identifiers that are generated and controlled by users. As a result, web consumers retain full control over their property. And the data they share. However – that’s not all. DIDs are perfect for creating so-called self-sovereign- fully decentralised identities. 

Web3 vs Web5 

In our opinion, the two concepts cannot be compared to each other. Web3 is mainly smart contracts that are implemented on public blockchains (e.g. Ethereum). In the crypto world, this branch of the internet is often compared to dApps. 

Web5 focuses mainly on decentralised web applications (DWAs). These are not blockchain-based. As a result, here we have a Peer-to-Peer network that exists independently. 

What is another difference? Web5 ensures that the user will have full control over their data, which they store in the DWN. Web3 stores this data in a decentralised network or distributed file system with IPFS. 

Summary 

Well, this is the next version of the Internet. It is certain to come with new browsers, web services and the growing adoption of cryptocurrencies. Currently, web5 is a pipe dream and ideas. An open-source project that is still a work in progress. The creators and originators are still fine-tuning it. 

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