DeFi — Tokenization: Wrapped Crypto

Source: https://cdn.coingape.com/wp-content/uploads/2018/10/27193236/WBTC-678x381.png

Bitcoin’s protocol does not allow, as of the time of writing, for any use in the DeFi space. However, it can be used in the Ethereum Blockchain by creating a wrapped version of Bitcoin that is ERC-20.

WBTC

The WBTC application takes the representing off-chain assets on-chain approach to tokenization, specifically for BTC.

• Wrapped Bitcoin or wBTC…