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With Wrapped BTC, users experience increased liquidity and participation. The Ethereum network processes transactions faster than the Bitcoin network, but Bitcoin holders don’t have to wait anymore. With WBTC, moving Bitcoin between exchanges is much faster. Wrapped Bitcoin ( WBTC ) delivers the power of an ERC20 token!
Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.. WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance applications.
- [Wrapped Bitcoin](https://coinmarketcap.com/alexandria/article/what-is-wrapped-bitcoin) is a tokenized version of [Bitcoin](https://coinmarketcap.c...
- The creation of Wrapped Bitcoin brings the world's leading cryptocurrency [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) into the world o...
- As Wrapped Bitcoin tokens adhere to the ERC-20 token standard, one can use them across the broader Ethereum ecosystem. That includes trading them o...
- The Wrapped Tokens project, of which WBTC is a part, wasn’t founded by individuals but is rather a joint project of three organizations: BitGo, Kyb...
- By virtue of being the oldest and largest cryptocurrency on the market, Bitcoin can boast a massive user base and a liquidity pool of several dozen...
- There is no predetermined schedule of WBTC issuance. Instead, WBTC is automatically minted or burned whenever users purchase or sell their tokens f...
- WBTC tokens are secured by the parent blockchain they run on — Ethereum. In turn, ETH is protected by the Ethash [proof-of-work](https://coinmarket...
- You can buy WBTC on several exchanges, both centralized and decentralized ones, which serve as merchants on the Wrapped Bitcoin network. Some of th...
Feb 4, 2022 · Wrapped tokens are tokens that represent cryptocurrencies from another blockchain or token standard and can be used on DeFi platforms. Learn how wrapped bitcoin (wBTC) works, its benefits and drawbacks, and how it compares to wrapped ethereum (wETH) and other bridges.
- What Is Wbtc?
- Who Invented Wbtc?
- What’s Makes It Special?
- What Else Is Different?
- How Are WBTC Tokens produced?
- How Do You Get Hold of WBTC Tokens?
- What Can You Do with Wbtc?
- The Future
WBTC stands for Wrapped Bitcoin, simply an ERC-20token that represents Bitcoin—one WBTC equals one BTC. A BTC can be converted into a WBTC and vice-versa. Being an ERC-20 token makes the transfer of WBTC faster than normal Bitcoin, but the key advantage of WBTC is its integration into the world of Ethereum wallets, decentralized apps (dapps), and s...
Wrapped Bitcoin launched on the Ethereum mainnet in January 2019. Wrapped Bitcoin was brought to the world as a collaborative project between major players in the DeFi ecosystem, such as BitGo, Ren, Dharma, Kyber, Compound, MakerDAO, and Set Protocol, in an effort to bring more liquidity into the Ethereum network by dipping into Bitcoin. The projec...
Many of the most popular DeFi dapps on Ethereumrequire the use of collateral. Products such as MakerDAO and Compound require users to lock up crypto assets in order to borrow other crypto assets. Because the overall value of Ethereum is significantly smaller than Bitcoin, this limits how much these protocols can grow. By bringing Bitcoin over, prot...
Since there is still a gap between Bitcoin and Ethereum—the chains can’t natively talk to each other—trust among people is required. Compared to BTC, Wrapped BTC will never have the same level of security or trustlessness as the original, because it relies on people and organizations to manage the system instead of pure code. To increase trust and ...
Governing members of the WBTC DAO decide on major upgrades and changes to the protocol as well as who can assume the roles of the merchants and custodians who manage the system. Users who have BTC and want to convert it into WBTC must interact with merchants. Merchants initiate the process of minting or burning WBTC tokens by performing verificatio...
Since WBTC is an ERC-20 token, it can be traded on decentralized exchanges (DEXs) such as Kyber or Uniswap. If you want to swap BTC for WBTC, there are a number of platforms available, including Atomic Wallet, Coinlist, and Poloniex.
WBTC can be used in DeFi for lending, borrowing, token-swapping, yield farming and in liquidity pools. Some DeFi platforms that support WBTC include Aave, Balancer, Compound, Kyber Network, MakerDAO and Uniswap.
The future is less about how individuals use WBTC and more about what developers build using it. As a permissionless ERC-20 token, WBTC becomes another building block for DeFi applications in the growing ecosystem of "money Lego." As DeFi itself grows, so too will the use cases and applications for WBTC.
Jul 15, 2023 · Wrapped Bitcoin (wBTC) is an ERC-20 token that allows Bitcoin to be used on Ethereum and other blockchains. Learn how wBTC works, its benefits, and other wrapped cryptocurrencies in this article.
17 hours ago · Back in 2019, the crypto custodian BitGo and two partner firms conceived of "wrapped bitcoin" – a way of locking up bitcoin and minting an equivalent token, WBTC, that could be used on Ethereum ...
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Wrapped Bitcoin is an ERC-20 token that's backed by Bitcoin and can be used on Ethereum-based DeFi platforms. Learn how WBTC works, its benefits, and how to buy it.
