Bitcoin vs Wrapped Bitcoin in the World of Decentralized Finance
Wrapped Bitcoin (WBTC) is a tokenized form of Bitcoin that exists on a different blockchain, typically the Ethereum blockchain. The process of wrapping Bitcoin involves depositing Bitcoin into a smart contract on the native Bitcoin blockchain, and in return, an equivalent amount of WBTC is minted on the Ethereum blockchain. This allows Bitcoin to be represented and traded on other blockchain networks, bringing its liquidity and functionality to decentralized applications (DApps) and smart contracts beyond the Bitcoin network. This WBTC is giving hope for the future of decentralized trading.
To know more: www.coingabbar.com/en/crypto-currency-news/weighing-the-pros-and-cons-of-wrapped-bitcoin-adoption
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Key Differences Between Bitcoin and Wrapped Bitcoin
Bitcoin vs Wrapped Bitcoin in the World of Decentralized Finance
Wrapped Bitcoin (WBTC) is a tokenized form of Bitcoin that exists on a different blockchain, typically the Ethereum blockchain. The process of wrapping Bitcoin involves depositing Bitcoin into a smart contract on the native Bitcoin blockchain, and in return, an equivalent amount of WBTC is minted on the Ethereum blockchain. This allows Bitcoin to be represented and traded on other blockchain networks, bringing its liquidity and functionality to decentralized applications (DApps) and smart contracts beyond the Bitcoin network. This WBTC is giving hope for the future of decentralized trading.
To know more: www.coingabbar.com/en/crypto-currency-news/weighing-the-pros-and-cons-of-wrapped-bitcoin-adoption