Wrapped Bitcoin

Wrapped Bitcoin:

Wrapped BITCOIN is a converted version of BTC that can be used on Ethereum’s network of  decentralized applications.

It brings increased liquidity to  the decentralized finance ecosystem,granting Bitcoin holders access to  a variety of financial services.

The initial developers of the  Wrapped BTC protocol wereBitGo, Kyber Network, and Ren, known  as Republic Protocol at the time.

Bitcoin-to-WBTC conversions.A stan facilitatingdard use for WBTC is as collateral,or a pledge for loan repayments,  when taking out a cryptocurrency  loan on DeFi platforms.

How Wrapped bitcoin work?

WBitcoin Works WBTC is genrated whenever users demand

Ethereum-based ERC-20 tokens from a  merchant in exchange for their Bitcoin.

Upon receipt of the request, the merchant  carries out KYC and AML procedures.The merchant then initiates a transaction  with a custodian such as BitGo.

Finally, the custodian mints WBTC and transfers it to the merchant’s Ethereum address.

The merchant can then deliver BTC to  the custodian and issue WBTC to users.

The reverse occurs with a burn transaction  when WBTC transforms back into Bitcoin.

Wrapped Bitcoin DAOW BTC is govern by a

Decentralized  Autonomous Organization called the WBTC DAO.

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 that manage the system.

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WBTC explainer. We get right to the point in this short WBTC video. Check out this WBTC overview on MarketSquare, the new homepage for the decentralized Web.

INFORMATIONA ABOUT ALL KIND OF CRYPTOCURRENCY IS AVALIABLE ON THIS WEBSITE LIKE, BITCOIN, ETHEREUM, LITECOIN, DOGECOIN, PICOIN,

AND MANY MORE CRYPTOCURRENCY LIKE THESE JUST GO TO SERCH AND FIND PUT THE NAME OF THAT crypto YOU WANT TO LAERN.

What is Wrapped Bitcoin?

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