What is Wrapped Bitcoin (WBTC). Wrapped Bitcoin (WBTC) is a type of… | by Hatty’s Shack | Coinmonks | Jan, 2023

Wrapped Bitcoin (WBTC) is a type of digital asset that represents Bitcoin on other blockchains. It is created through a process called “wrapping,” in which Bitcoin is locked in a smart contract and issued as an ERC-20 token on the Ethereum blockchain. This allows users to use Bitcoin on Ethereum-based decentralized applications (dApps) and decentralized finance (DeFi) platforms that do not natively support Bitcoin. WBTC can be easily…