What Is Wrapped Bitcoin? – The Defiant

Incompatibility is inevitable when you have dozens of blockchain networks with their own smart contract formatting. This is why Bitcoin cannot simply be transferred to Ethereum in its original state. Bitcoins can be wrapped as Ethereum-compatible ERC-20 tokens, making that into Wrapped Bitcoin (WBTC).

Wrapped Bitcoins are to Bitcoin what the USDT stablecoin is to the dollar. Both circumvent incompatibility via a new, compatible digital asset anchored into the original one. But, is there more…


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