Review on Wrapped Bitcoin by Toprak Dere
About Wrapped Bitcoin
I meet Wrapped Bitcoin with revain site.i have searched and reviewed from forums. it is representing Bitcoin on the Ethereum network.
WBTC brings the liquidity of Bitcoin to the Ethereum ecosystem.
Wrapped Bitcoin increased 900 percent in locked-in value in just two months: exceeded $ 1 billion!
wrapped Bitcoin allows users to receive WBTC, an ERC-20-based token with bitcoin price, in exchange for locked Bitcoin. WBTC allows Bitcoin holders to access the Ethereum-based decentralized finance ( DeFi ) ecosystem using their savings as collateral .
The total value locked up in WBTC increased from $ 4 million to $ 36 million in the first half of 2020.
The DeFi bubble has also benefited other Bitcoin tokenization protocols. The value of Bitcoin locked in the Ren (REN) VM launched in May exceeded $ 300 million.
Pros
- convertible to btc,usdt
- monetary growth is impressive
Cons
- platform requires management and development.
- no mobile application
