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Review on Wrapped Bitcoin by wilfredo faria
Bitcoin envuelto
Since bitcoin is the main virtual currency, it decided to create wrapped bitcoin where it offers the power of bitcoin with the flexibility of ERC20 tokens, (WBTC) provides greater liquidity to ethereum including decentralized exchanges (DEX) and financial applications, since the vast majority of volume trading and trading takes place on decentralized bitcoin exchanges. The (WBTC) gives a change to that by carrying out the liquidity of bitcoin to the DEX thus giving possibility to the use of bitcoin for token transactions the WBTC since it brought bitcoin to the ERC20 technology giving ease for smart contracts in its platform.
Pros
- Wrapped bitcoin managed to bring bitcoin technology merging to ERC20 technology giving the best priorities to users.
- WBTC works in conjunction with ethereum as it uses its ERC20 technology
Cons
- but wrapped bitcoin can also present a failure since when making changes from tokens to bitcoin it can be detected
