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TagsWhat are the differences between wrapped eth and eth in the world of cryptocurrency?
Sarissa FarmanDec 16, 2021 · 3 years ago1 answersCan you explain the distinctions between wrapped eth and eth in the realm of cryptocurrency? I'm curious to know how these two types of tokens differ and what their respective use cases are.
1 answers
- Wrapped ETH (WETH) and ETH are two different types of tokens on the Ethereum blockchain. WETH is an ERC-20 token that represents ETH in a wrapped form. It is typically used in decentralized finance (DeFi) applications and decentralized exchanges (DEXs). WETH allows users to trade and interact with ETH in a more standardized way, as it follows the ERC-20 token standard. On the other hand, ETH refers to the native cryptocurrency of the Ethereum network. It is the original form of ETH and is used for various purposes, such as making transactions and participating in ICOs. While WETH and ETH are related, they have distinct characteristics and serve different functions within the world of cryptocurrency.Dec 16, 2021 · 3 years ago
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