Review on Wrapped Bitcoin by Amos joseph
WBTC
The idea behind Wrapped Bitcoin is to make bitcoin more stable in essence it was created to control liquidity in bitcoin, just the way stable coins are initiated to bag the value of normal USD Wrapped Bitcoin has an equivalent ratio of 1:1 with virtual btc.
Hosted as an ERC20 token on ethereum network support fast transaction with integration of advance security protocol interestingly WBTC is listed and traded on multiple exchange platform with multiple trading pairs available to trade which bring users more close to decentralized exchange platform.
In other to increase liquidity in decentralized exchange platform WBTC was integrated into ethereum network to support large transaction volume on DEX and provide a transparent platform where crypto users can conveniently trade on DEX network.
Pros
- WBTC on ethereum network as an ERC20 token was created to meet compatibility with bitcoin is was introduced to increase transaction and trading volume on decentralized network
- Supported by multiple high profile blockchain project and exchange platform
- Traded on multiple exchange with available pairs to trade with
- Fast transaction system with advance security protocol active support platform
Cons
- WBTC non for now
