Explore

Blockchain fundamentals

Blockchain functions

Consensus Protocol

Bitcoin

Bitcoin Mechanism

Bitcoin transaction Inputs and Outputs

Blockchain philosophy

Blockchain in practice

Bitcoin transaction

Stories of Web3 - by the people who build it

Blockchain governance

Blockchain transactions

Crypto regulation

Bitcoin keys and addresses

Bitcoin wallets

Bitcoin consensus and mining

Bitcoin network

Bitcoin blockchain

Bitcoin private keys

Bitcoin public key

Bitcoin address

On the importance of decentralization

Blockchain ideological basis

Blockhain ecosystem

Mining

Mining and ecology

What is money

History of the Gold Standard

Wallets

Exchanges

Oracles

Smart contract platforms

Ethereum

Cryptocurrencies

Stablecoins

Ethereum design

Blockchain use cases

Tokenization: easy creation and transfer of values

Blockchain in finance

How Bitcoin works

Austrian economic school

Bitcoin governance

Proof of Work

Proof of Stake

Bitcoin security and double spending

Bitcoin block structure

Bitcoin forks

Merkle Tree

Smart contracts

Tokens

DeFi

Bitcoin mining and ecology

Blockchain underlying technologies

Bitcoin Whitepaper by Satoshi Nakamoto

BUILD/ blockchain infrastructure

CREATE / NFTs, metaverse and gaming

INSTRUCT/ crypto knowledge

ADVOCATE / crypto regulation

Web3

Web3 Music

Web3 Fashion

Top 5 DeFi protocols to illustrate the space

Dynamic information source on all things blockchain: Bitcoin and other cryptocurrencies, Dapps, real life use cases, crypto ecosystem, technical details, crypto regulation and more.

D.Center – All things Blockchain

Start your crypto journey by hitting the Explore button!

Bitcoinnn

Blockchain in use

Philosophy behind blockchain

Underlying technologies

Blockchain trilemma

Blockchain and DLT types

Bitcoin mechanism

Bitcoin Transaction

Bitcoin transaction inputs and outputs

Bitcoin implementations

Script

UTXO

Mainchain functions

Transaction inputs

Sidechain solutions

Cryptography

Transaction Fees

Keys and addresses

Private key

Public key

Adress

Some blockchains were created to enable cryptocurrencies. Others serve primarily as smart contract platforms, allowing to decentralize digital economy: online platforms, financial flows, collaboration... and of course the nascent Web3 sector.



The number of blockchain use cases is constantly growing, as does its ecosystem.



This is a high level view on what blockchain in practice looks like today. 



<figure class="wp-block-image"><img src="https://web.d.center/wp-content/uploads/2020/10/blockchain-in-practice-l-1024x404.jpg" alt="" class="wp-image-1251"/></figure>



<h2 class="wp-block-heading">Cryptocurrencies </h2>



With <a href="https://d.center/explore/bitcoin" class="ek-link">Bitcoin</a>, the first practical application of the blockchain was currency, or more precisely “P2P electronic cash system”, as described by Satoshi Nakamoto himself. Invented in order to remedy the failing monetary system, the blockchain proved itself to be particularly well suited for such a role, providing an independent, immutable and transparent transaction ledger.&nbsp;



Following Bitcoin, new <a href="https://d.center/explore/cryptocurrencies" class="ek-link">cryptocurrencies</a>-focused blockchains have emerged, trying to ameliorate this or that aspect of the blockchain: transaction throughput like Litecoin, privacy like Monero… 



Some cryptocurrencies have appeared as an extension of a community, like the Doge memecoin.



Other cryptocurrencies, created as tokens (and not native coins), serve as representations of fiat currencies on the blockchain. They are called stablecoins, the biggest ones being USD-pegged Tether and Circle.



<h2 class="wp-block-heading">Smart contract blockchains</h2>



Currency is not the only thing that can profit from the blockchain's decentralization.



Virtually any digital system (hence most of organisation that use them) can benefit from eliminating central authority.



This is achieved through the use of <a href="https://d.center/en/explore/smart-contrats" class="ek-link">smart contracts</a> - autonomous and self-executing programs that run on the blockchain. Smart contracts allow the development of DApps, or decentralized applications, and power the emerging web3 sector.



The first and most popular smart contract platform is Ethereum blockchain, but it has many competitors: Solana, Cosmos, BNB Chain... etc



The difference between a Cryptocurrency blockchain and a Smart contract blockchain is now rather theoretical and can be understood only by questioning the blockchain’s purpose: whether it was conceived to support a currency or to host elaborate smart contracts. Both types of blockchains need a native coin to pay the network nodes for running the protocol, however in cryptocurrencies’ case the native coin is a goal in itself, whereas for smart contract blockchains it is a payment for running smart contracts. 



<h2 class="wp-block-heading">Blockchain use cases</h2>



Almost every traditional economic sector can use blockchain's qualities.



⛓️ Decentralized systems are intrinsically fairer than centralized ones: their transparency and self-executing nature are much better in redistributing value and allowing the users to be true and sole owners of their data. This quality is substantial when it comes to online platforms, be it social media, cloud computing or ride hailing.



⛓️ Blockchain being a transparent and immutable ledger, it is also particularly suitable for data certification purposes.



⛓️ Smart contracts can automate numerous processes, not only increasing the overall cost and time effectiveness, but also providing users with a guarantee that no one can unilaterally change the rules underlying the DApp.&nbsp;This notably enables the new type of trustless collaboration within DAOs, or Decentralized Autonomous Orgnizations.



⛓️ Finally, the blockchain structure allows fast and easy data and values transfer, without any borders or other limitations. This quality is highly appreciated in finance, and many traditional players have already incorporated crypto into their offer: exchange, custody, asset management, asset tokenization... Besides, a crypto-native version of finance, known as the DeFi, is developing very fast.







<h2 class="wp-block-heading">Web3</h2>



Blockchain and cryptoassets can be used both in centralized and decentralized way. 



The exact boundary between the two is not always clear, but usually when the core operations happen on-chain, the value is transparently distributed, and governance decisions are taken by the community, we can speak about <a href="https://d.center/en/explore/web3" class="ek-link">Web3</a>, a new era of the internet where users are in control. 



The most obvious example of web2 using blockchain vs web3 are exchanges: a centralized one like Binance is centrally managed and controls its users' cryptoassets, while a decentralized exchange like Uniswap never gets in the possession of its users' funds and evolves according to its DAO's decisions.



<h2 class="wp-block-heading">Blockchain ecosystem</h2>



Blockchain is a collective endeavor, and it needs an extensive ecosystem to function and to serve its purposes. 



Numerous products and services have therefore been developed: <a href="https://d.center/explore/crypto-wallets" class="ek-link">wallets </a>to interact with the blockchain, <a href="https://d.center/explore/crypto-exchanges" class="ek-link">exchanges</a><a href="https://d.center/explore/crypto-exchanges" class="ek-link"> </a>to buy and sell crypto, <a href="https://d.center/en/explore/oracles" class="ek-link">oracles</a> to interact with the real world and feed information to smart contracts, not to mention the miners who maintain the network, or interoperability protocols connecting different blockchains. 



<h2 class="wp-block-heading"> </h2>

Web3 has become a buzzword recently, often misunderstood, misplaced and misjudged. 



To understand this phenomenon - that we believe has an enormous potential - let’s start with some key definitions.



Blockchain&nbsp;is a shared distributed database run by independent nodes.



To motivate these nodes to maintain the blockchain, it issues a&nbsp;native coin&nbsp;– a&nbsp;cryptocurrency.



Many blockchains allow users to issue their own cryptocurrencies and more broadly – cryptoassets. These are known as&nbsp;tokens, either fungible (like a stablecoin), or non-fungible (an&nbsp;NFT).



For example, $ETH is a native coin of the Ethereum blockchain, while Tether, a company, can issue/burn fungible tokens that it engages to redeem for $1 – the stablecoins. A university can issue diplomas in form of NFT. Anyone can create tokens and assign them the value they wish, but the native coins and their value depend only on the blockchain.



Many traditional services use cryptoassets in one way or another, but a growing sector re-imagines its operations and products by putting the blockchain at their core. This sector is called&nbsp;web3.



Why “web3”? The name reflects the evolution of the Internet:



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/web123.png" alt="" class="wp-image-5484"/></figure>



The term was coined in 2014 by Gavin Wood, Ethereum co-founder, who described web3 as a “decentralized online system based on blockchain”.



Crypto investor Packy McCormick has given a more romantic definition, calling web3 “the internet owned by the builders and users, orchestrated with tokens.”



This is how we see these notions related:



<figure class="wp-block-image size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/use-of-crypto-web2-and-web3.jpg" alt="" class="wp-image-5481"/></figure>



The notion of web3 is still very young, and it is often difficult to draw a line between web2 using crypto and web3. What degree of decentralization does a service need to be considered a web3? There’s no clear answer yet.



The understanding evolves together with the industry and its use cases. Let’s look at a couple of examples to get a better idea.



💰 Web2 finance: Kraken, a centralized exchange that keeps users’ crypto and is managed by its board of directors.



💰 Web3 finance: Uniswap, a decentralized exchange that does not keep users’ crypto and is managed by its DAO – a decentralized autonomous organization with tokens that carry voting rights.



👯 Web2 social media: Twitter that has a special avatar shape for verified NFTs.



👯 Web3 social media: Lens protocol that allows users to own their data and connections and to carry them across social platforms.



🎮 Web2 gaming: Ubisoft releasing additional gear for its Tom Clancy game as NFTs.



🎮 Web3 gaming: Axie Infinity, where all characters are upgradeable and tradeable NFTs, a community governance system is underway.



Here’s the above graph with examples, to give you more perspective:



<figure class="wp-block-image size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/use-of-crypto-web2-and-web3-with-examples.jpg" alt="" class="wp-image-5482"/></figure>

<figure class="wp-block-image size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/RTFKT.jpg" alt="" class="wp-image-5499"/></figure>



This article was first featured in our Newsletter. Subscribe <a href="https://d.center/newsletter">here </a>to receive it directly in your mailbox every Monday



Fashion is one of the industries that stands to benefit greatly from the blockchain and web3, and in so many different ways! From product authentication to the new types of product - phygitals, AR and VR garments - passing by the new retail and customer engagement practices, crypto tools are being increasingly used on various stages of a fashion business cycle.



Here are some of the most interesting use cases. Let’s go!



<h1>Blockchain for product certification</h1>



One of the most discussed blockchain qualities in its early days of fame (around 2017) was immutability, which made it so well-suited for all types of certification purposes. Some of you can remember newspaper headlines mentioning this or that retail/manufacturing/logistic group turning to blockchain for authenticating their products or better tracking the supply chains.



Over time, we learned to distinguish public blockchains (now simply “blockchains”) from&nbsp;private/consortium blockchains, which are not decentralized and do not make part of the crypto space, and it turned out that the majority of the abovementioned companies were used the latter. The initial excitement has vanished, but opened the doors for new initiatives to start trying out certification projects on (public) blockchains.



Luxury and fashion followed this process. In 2017, a group of companies founded&nbsp;Arianee, a consortium blockchain aimed at providing proof of authenticity, with some famous clients like Vacheron Constantin and Breitling ⌚using its services. In 2021, the&nbsp;Aura Blockchain Consortium&nbsp;was created by the three luxury giants: LVMH, Prada Group, Cartier, later joined by the OTB Group and Mercedes-Benz. Aura too aims at tackling the traceability and authenticity tasks, but like Arianee, it is not public, and both their functionalities are limited (as Vitalik Buterin has put it, a non-public blockchain is a little more than a “glorified database”).



Meanwhile,&nbsp;new types of web3 product certification appear. In 2020, a licensed Nike manufacturer Chase Shiel partnered with a retailer The Kickz Stand to produce a limited edition of Nike sneakers 👟 with a tracking chip powered by VeChain. This was not an official partnership with Nike, but the idea has taken root.



In the end of 2022, famous NFT project Azuki sold 9 NFTs coupled with physical skateboards 🛹 (golden no less 😅 ) certified by embedded chips. These “physically backed tokens” allow NFT owners to not only verify the product’s authenticity, but also record and transfer their ownership when needed.



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/azuki-skate.jpg" alt="" class="wp-image-5494"/></figure>



<h1>Web3 for a new type of product</h1>



The development of digital and web3 fashion allowed the creation of 3 new product types: phygitals, AR and VR garments.



<h2>Phygitals</h2>



Physical goods coupled with NFTs (like Azuki’s skateboards) or other digital assets are known as&nbsp;phygitals. The reason for creating a phygital is not always related to authentication: some brands, like&nbsp;Prada, use it for enhancing client experience.



Since December 2019, the legendary Italian House releases every month a limited edition (physical) shirt 👕 coupled with an NFT that gives access to an exclusive Discord community and other member-only events (some holders are even invited to the fashion shows).



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/prada-timecapsule38.jpg" alt="" class="wp-image-5495"/></figure>



<h2>AR fashion</h2>



Looking at the world through the lens of you phone can sometimes surprise you, especially when the AR (augmented reality) magic kicks in.



AR fashion develops quickly, with most outstanding examples being developed by the Institute of Digital Fashion in London, RTFKT (digital fashion company bought by Nike) and crypto-native The Fabricant, who sell NFT garments that can be seen through a Snapchat filter 🦋



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/kehlani-iodf.jpg" alt="" class="wp-image-5496"/></figure>



<h2>VR fashion</h2>



The ultimate stage of digital fashion – which at the moment still seems far – will be happening in the&nbsp;metaverse. As the virtual realities like Decentraland (decentralized) or Fortnite (centralized) are developing, more people will spend time there and of course would like to stand out from the crowd.



While companies like Balenciaga, Prada and Thom Brown bet on both metaverse types and launch their digital clothes on Meta (not web3), others, like&nbsp;Gucci&nbsp;and&nbsp;Dolce&Gabbana, create NFT garments 🥻 that can be worn in Decentraland or The Sandbox (web3).



In March 2022, Decentraland even hosted its very first Fashion Week.



Of course, VR fashion is still in its very early stages, notably because the metaverses are still unattractive and lacking interesting activities. But the potential is believed in by many, and fashion companies are actively developing their web3 departments to be ready when the mass adoption kicks in.



<figure class="wp-block-image size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/DG-for-decentraland.jpg" alt="" class="wp-image-5497"/></figure>



Both AR and VR clothes are extremely interesting for fashion companies: high margins, no need for physical production and storage, low ecological impact 🌱, and finally – endless creativity not limited by the laws of physics.



<h1>Web3 for a new retail</h1>



New products often open&nbsp;new sales channels, and web3 fashion is no exception.



NFT marketplaces, metaverses, digital games and basically any website can act as retailers, and using cryptocurrencies opens them for the whole world. As an additional bonus, companies can set a royalty percentage, which they will receive each time their NFT is sold on the secondary market.



Fashion Houses can also tap into a&nbsp;new clientele: from web3 degens (self-assigned term for die-hard crypto enthusiasts) to the House fans who cannot afford a physical item.



A prominent example of a luxury house tapping into the degen culture was Tiffany with its CryptoPunk collection issued in summer 2022. Available only to CryptoPunk NFT holders, Tiffany NFTs allowed to order a physical pendant incrusted with precious stones 💎 featuring their CryptoPunk for a modest amount of $50’000 (in ETH equivalent, of course).



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/tiffany-cryptopunk-1.jpg" alt="" class="wp-image-5498"/></figure>



Finally, web3 fashion offers a myriad of&nbsp;new ways of engaging with clients. Exclusive experiences, like Prada’s, artpieces like Gucci’s, or even the possibility to create your own NFT fashion collection, like on Nike’s soon-to-be-released&nbsp;SWOOSH&nbsp;platform. With crypto tools, a fashion brand can make their client’s journey unique – the Holy grail for which many Houses fight.



As the crypto space develops, the use cases in the fashion industry multiply and become more interesting, which in turn attracts more people… Is that a virtuous circle in the making? 😎



<figure class="wp-block-image aligncenter size-full"><img src="https://web.d.center/wp-content/uploads/2023/02/gucci-x-superplastic.jpg" alt="" class="wp-image-5493"/></figure>