DeFi — Tokenization: Wrapped Crypto
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.
The WBTC application takes the representing off-chain assets on-chain approach to tokenization, specifically for BTC.
- Wrapped Bitcoin or wBTC…