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Bitcoin-based social network will enter Jack Dorsey’s web5

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The social network and cell phone application Zion announced their new version, adding new features to bring it into what they call “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 most popular social networks, this application offers a transaction without intermediariesas well as Bitcoinbased on its technical papers official and offers to reward content creators in 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 described above are available to users already using the platform, New in v2 will be the use of a decentralized node system. (Decentralized Web Platform, developed by former Twitter CEO Jack Dorsey’s company Block) to further enhance these features.

With the new version being launched, the app will be plan to improve the use of encryption to enable information exchanges and direct payments. between users, without the need to disclose personal information as is the case in today’s most popular social networks.

What will Zion offer users of “web5”?

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

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Zion v2 will use decentralized web nodes as servers that. It will give users “full and irrevocable” custody of their data.secured by private keys. They will also provide the ability to send and store messages and data without a third party coming between them.

This mechanism will also enable bitcoin (BTC) payments. Using the micropayment channel network Lightning network. This will be “Zion’s native payment infrastructure” and all payments made on the platform will be “instantaneous, immutable and untraceable.”

Upon logging into Zion, each individual will have a DID (decentralized identifier) and username. The DID will be secured by an initial 12-word phrase.as in the Bitcoin Walletsto which Zion does not have access, and will enable “a verifiable, decentralized digital identity.”

Zion v2 on the web5.
Verifiable identity, encrypted messaging and native Bitcoin payments, the promises of Zion v2 for web5. Source: Zion blog.

Jack Dorsey and his ideas on Bitcoin, Web5 and the Internet.

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

Zion’s release explains that there are “three key elements that currently do not work in the centralized web” and that Zion v2 improves.

As noted above, Dorsey and his team. refer to identity, messaging, data storage, and sending payments. using Bitcoin’s Lightning network. All of these key concepts for Web5 are at the heart of the new application they are working on.

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