Introducing Wrapped HBAR

Today we’re here presenting a new product that will help Hedera Hashgraph users better access the decentralized finance space. It is called wrapped HBAR and it enables anyone to use HBAR as an ERC20 token.

Key Points

• We’ve created a cross-chain bridge that lets you use your HBAR directly on Ethereum
• This means that you will be able to build anything with Ethereum and HBAR without having to transfer into a centralized exchange (CEX)
• It is built using Provable Things Oracle’s secure computation technology.
• We do not/cannot charge any extra fees for wrapping.

Visit https://whbar.co to access the mainnet portal.

For TestNet to Goerli transactions, you should go to https://testnet.whbar.co.

We created wrapped hbar as the first step to validating messages across from Hedera and Ethereum. This wrapped token is a 1-to-1 representation of Hedera’s native currency on Ethereum’s network. Please understand that this is a beta product built for research purposes. Use at your own risk.

This project has been created in collaboration with many people and has been in the works since late 2019. The contract is based on OpenZeppellin’s ERC20 audited contract. We use Computation-ds to execute off-chain logic for both verifications of deposits and withdrawal of funds.

“Fluid movement of digital assets regardless in which blockchain they’re held in is the most critical step in mainstream adoption of the crypto ecosystem.” — Thomas Bertani (Provable Things)

We use Hedera mirror nodes to validate the transactions prior to minting wHBAR. Once we enable authenticity proofs anyone will be able to validate the execution of these events.

Today the accounts are secured behind Provable Things’ technology. We do not have access to the keys and transactions can only be executed through the contract’s already-set functions. This makes use of similar technology to https://ptokens.io. In the future, we plan to integrate into pNetwork’s nodes for better security and to provide more cross-chain features.

Hashing Systems is an organization that seeks to provide the developer community easy access to building on decentralized platforms. For more information on our other products check out our website at https://hashingsystems.com