Review on Wrapped Bitcoin by Özgün A
Wrapped 1.1
Wrapped Bitcoin is a fake cryptocurrency representing Bitcoin created on the Ethereum network at a ratio of 1: 1. Each WBTC is 1: 1 powered by the same amount of Bitcoin. One of WBTC's main selling points is that it combines tradable Bitcoin with Ethereum decentralized exchanges such as IDEX. The recent DeFi bull cycle has allowed the total value locked up in the popular Bitcoin (BTC) tokenization protocol Wrapped Bitcoin (WBTC) to surpass $ 1 billion, up 900 percent. Wrapped Bitcoin rose to the fifth largest DeFi protocol in terms of locked-down value; the protocol holds about 10 percent of the locked capital in the industry.
Pros
- reliable
- Easy interface
Cons
- low recognition
