How does wrapped ethereum differ from regular ethereum in terms of functionality?

3 answers

• Dec 16, 2021 · 3 years ago
  Wrapped ethereum, also known as WETH, is a tokenized version of regular ethereum. It is an ERC-20 token that represents ether on the Ethereum blockchain. The main difference in functionality between wrapped ethereum and regular ethereum is that wrapped ethereum can be used in decentralized applications (DApps) and smart contracts that are built on the Ethereum blockchain. This allows users to interact with DApps and smart contracts using wrapped ethereum instead of regular ethereum. It provides more flexibility and compatibility with the existing Ethereum ecosystem.
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• Dec 16, 2021 · 3 years ago
  Wrapped ethereum is essentially a bridge between the Ethereum blockchain and other blockchain networks. It allows users to bring their ether from the Ethereum blockchain to other blockchain networks and vice versa. This enables interoperability between different blockchain networks and opens up new possibilities for decentralized finance (DeFi) applications. Regular ethereum, on the other hand, is the native cryptocurrency of the Ethereum blockchain and is primarily used for transactions and as a store of value.
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• Dec 16, 2021 · 3 years ago
  Wrapped ethereum is a popular choice for users who want to participate in DeFi applications and take advantage of the benefits offered by the Ethereum blockchain. It provides a way to use ether in a tokenized form, which can be easily traded and transferred. BYDFi, a decentralized exchange, supports wrapped ethereum and allows users to trade it against other cryptocurrencies. However, it's important to note that wrapped ethereum is not a separate cryptocurrency but rather a representation of ether on the Ethereum blockchain.
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