$52 921
-6,59%
$4156,27
-8,42%
$0,8998
-7,41%
$0,1356
-14,83%
$0,0918
-6,62%
Published by: 18:59, 22 March 2021

Wbtc

WBTC - the full name of the Wrapped Bitcoin coin is what the founders call a tokenized version of Bitcoin (BTC), running on the Ethereum (ETH) blockchain and integrated into the Ethereum project ecosystem. WBTC is backed by BTC 1:1, enabling interaction between these blockchain networks via immutable smart contracts and the movement of liquidity from one network to another.

wrapped bitcoin wbtc cryptocoinexpert

WBTC was created to facilitate access to DeFi markets for owners of the number one cryptocurrency, Bitcoin. Trading on decentralized exchanges, cryptocurrency lending services, forecasting markets, and ERC-20-based decentralized finance applications - these and other applications are now available to Wrapped Bitcoin coin owners.

The creation of WBTC was announced in late October 2018, with an official launch on January 31, 2019. Wrapped Tokens is associated with well-known blockchain projects in the crypto world: BitGo, Kyber Network and Ren.

BitGo is responsible for the development of the coin, which, in addition to developing WBTC, generates and stores WBTC tokens and the key database needed to create them.

Kyber Network, a developer of a blockchain-based liquidity protocol that allows users to securely integrate various tokens, cryptocurrencies and DeFi applications, was involved in the development of WBTC. This project is currently responsible for the issuance and burning of WBTC tokens, to maintain the stated ratio of tokens to BTC reserves of 1:1.

Another co-founder of the coin is Ren, a company that develops cross-blockchain integrations of crypto-assets and DeFi applications (RenBridge, RenVM).

The creation of WBTC coin is driven by the desire to integrate bitcoin cryptocurrency owners, whose technology does not allow the creation of smart contracts, into the booming industry of decentralized finance and applications.

WBTC can be bought, sold and exchanged on centralized and decentralized crypto exchanges. 

WBTC Price NOW


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