Bitcoin-based social network will break into Jack Dorsey’s web5

The social network and mobile application Zion announced its new version, with added features to introduce itself in what it calls “web5”. It promises more privacy, decentralization and even instant payments with Bitcoin.

The platform is a social network that provides interactions and messaging “without algorithms or ads”. Unlike the most popular social networks, This application proposes an operation without intermediariesas it does Bitcoinaccording to their technical documents official, and gives the option to reward the content creators of each community.

In its current version, Zion has a waiting list for users who want to join, due to the lack of available nodes. Although the functions detailed above are available to users who already use the platform, new with version v2 will be the use of a decentralized node system (Decentralized Web Platform, developed by Block, a company owned by Jack Dorsey, former CEO of Twitter) to further enhance these features.

With the new version that is being developed, the app plans to enhance the use of cryptography to enable direct payment and information exchanges between users, without the need to reveal their personal data as in the social networks that are most used today.

What will Zion offer to users of the «web5»

The new version of Zion, called Zion v2, will be “stronger and faster than ever,” details the company’s official statement. Basically, it will work like a Bitcoin wallet, but with added functions, as if it were a social network like the ones we already know.

Zion v2 will use decentralized web nodes as servers that will give users “full and irrevocable” custody of their data, secured by private keys. In addition, they will provide the possibility of sending and storing messages and data without a third party interceding between them.

This mechanism will also enable payments in bitcoin (BTC) using the network of micropayment channels Lightning Network. This will be “Zion’s native payment infrastructure” and all payments made on the platform will be “instant, immutable and untraceable.”

Upon entering Zion, each individual will have a DID (decentralized identifier) ​​and username. The DID will be secured by a 12-word seed phraselike those of the Bitcoin walletsto which Zion does not have access, and will allow to have “a verifiable and decentralized digital identity”.

Verifiable identity, encrypted messaging and native Bitcoin payments, the promises of Zion v2 for web5. Font: Zion-Blog.

Jack Dorsey and his ideas for Bitcoin, web5 and the internet

In CriptoNoticias it has been recently reported Jack Dorsey’s intention of create a new internet layer based on the Bitcoin protocol. The applications built there will allow users to log in without creating an account, save their preferences on any platform and interact with each other without having to give all this information to a specific company.

In the Zion statement, it is detailed that there are “three key elements that are currently broken in the centralized web”, and that Zion v2 improves.

As mentioned before, Dorsey and his team refer to identity, messaging and data storage and payment sending using the Bitcoin Lightning Network. The new application in which they work points to all these concepts, keys to web5.

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Bitcoin-based social network will break into Jack Dorsey’s web5