Review on WETH by Christian Patrick
WETH is the newly built in choice with upcoming ERC-223 standards.
WETH is a compactment of a wrapped Ethereum based platform. The ETH here connotes a native currency that is built on the Ethereum blockchain with a DApp(that is to say a decentralized application) which is often implemented to form it own tokens.
WETH is one unique token that allows ETH trade for other ERC-20 tokens on a decentralized platform such as Radar relay. However, Being a decentralized platform running on the Ethereum smart contract it has been able to progressively facilitate trade directly between multiple users without disruption of any kind. In other to ensure that this initiative works Evey user needs to obtain a standardized format for every token they want to trade and with this it ensures that these token's are kept safely in translation.
In addition to this, All WETH users are able to trade freely with any other user holding an ERC-20 token. The WETH holds an official position when it comes to dealing with a secured ecosystem coupled with a cooperate team service providers always updating the ETH codebase to ensure that it compliant within it own ERC-20 standards is met as set into objective for this project. However, more are yet to be implemented with an ERC-223 on the run to be brought into the blockchain by it experts.
Pros
- It is implementing a new ERC-223 better than the previous one.
- It is further built on the Ethereum blockchain.
- It is safely secured and reliable as such.
- It has obtainable standardized formats.
Cons
- It proves no negative side.
