What is the difference between WETH and ETH in the world of cryptocurrencies?

3 answers

• Nov 23, 2021 · 3 years ago
  WETH and ETH are actually related to each other. ETH stands for Ethereum, which is a popular cryptocurrency platform. WETH, on the other hand, stands for Wrapped Ethereum. It is a tokenized version of ETH that can be used on decentralized exchanges and other platforms. WETH is essentially an ERC-20 token that represents ETH. So, in simple terms, WETH is a wrapped version of ETH that can be used in different applications within the Ethereum ecosystem.
  454227
• Nov 23, 2021 · 3 years ago
  WETH and ETH are like two sides of the same coin. ETH is the native cryptocurrency of the Ethereum blockchain, while WETH is a tokenized version of ETH. The purpose of wrapping ETH into WETH is to make it compatible with decentralized applications (dApps) and smart contracts on the Ethereum network. By wrapping ETH into WETH, users can easily trade and interact with ETH on decentralized exchanges and other platforms that support ERC-20 tokens.
  447149
• Nov 23, 2021 · 3 years ago
  WETH and ETH are closely related, but they serve different purposes. ETH is the original cryptocurrency of the Ethereum blockchain, while WETH is a tokenized version of ETH. The main reason for wrapping ETH into WETH is to enable its use in decentralized finance (DeFi) applications. By converting ETH into WETH, users can access a wide range of DeFi protocols and services, such as lending, borrowing, and yield farming. It provides liquidity and flexibility for ETH holders in the DeFi space.
  494124