Jul 15, 2023 · Wrapped Bitcoin (wBTC) is an ERC-20 token that's backed by Bitcoin (BTC) on a 1:1 basis. Jointly launched by Kyber, Ren and BitGo in January 2019, wBTC is the first token that makes Bitcoin compatible on the Ethereum network.

Wrapped Bitcoin is an ERC-20 token on the Ethereum blockchain that represents Bitcoin. Each WBTC is backed 1:1 with Bitcoin. Wrapped Bitcoin allows for Bitcoin transfers to be conducted quicker on the Ethereum blockchain and opens up the possibility for BTC to be used in the Ethereum ecosystem.

Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. Completely transparent. 100% verifiable. Community led. Why Do We Need WBTC? WBTC brings greater liquidity to the Ethereum ecosystem including decentralized …

Jan 19, 2022 · Wrapped bitcoin (wBTC) allows ethereum applications to integrate a cryptocurrency backed by real bitcoin reserves. In this way, wBTC operates as a bridge between bitcoin and ethereum, allowing Bitcoin users to access decentralized finance (DeFi) applications and for ethereum applications to gain additional liquidity.

Find the latest Wrapped Bitcoin USD (WBTC-USD) stock quote, history, news and other vital information to help you with your stock trading and investing.

In essence, wrapped (or tokenized) cryptocurrencies are digital assets that represent those cryptocurrencies on other blockchains. The purpose of these tokens is to be usable in a wider blockchain ecosystem and enable cross-chain interoperability.

Wrapped Bitcoin is a fairly new innovation that effectively brings BTC to the Ethereum blockchain. One of the main use cases for WBTC lies in decentralized finance. How Do WBTC Tokens Work? Imagine you're already familiar with Bitcoin and really keen to start using DeFi applications. But there's a problem!