Wrapped BTC (Wormhole) Fiyat WBTC

Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) running on the Ethereum network. WBTC standardized Bitcoin into ERC20 format and created a smart contract for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers. The automatically monitored merchant and custodian network is supported by Bitcoin in a ratio of 1:1, ensuring that its price is always linked to Bitcoin.

Wrapped Bitcoin integrates Bitcoin into the ecosystem of decentralized exchanges, lending and other decentralized financial (DeFi) applications that support ERC-20, helping users transfer assets between BTC and ETH networks in a decentralized and distributed way. Meanwhile, it also brings greater liquidity to the Ethereum ecosystem, which changes the situation that most Bitcoin transactions are only traded on centralized exchanges, bringing the liquidity of Bitcoin into DEX and making it possible to use Bitcoin for token trading.

WBTC standardized Bitcoin into ERC20 format and created a smart contract for Bitcoin. This makes it easier to write smart contracts that integrate Bitcoin transfers.

How does Wrapped Bitcoin（WBTC）Work?

WBTC tokens are created in the centralized model of token assets, that is, these assets are stored in the organization that issues the application. The "custodian" stores Bitcoin in the smart contract and issues WBTC as a report. WBTC is a validation process involving multiple entities, which requires multiple signatures and the approval of everyone.

The operation process of WBTC is mainly divided into three links: receiving, minting and burning.

To obtain WBTC, the user first needs to send a token request to the merchant. The merchant then performs the required KYC / AML procedures and validates the user's identity. Once completed, users and merchants perform their exchange, Bitcoin is transferred from users to merchants, and WBTC is transferred from merchants to users.

The minting stage is initiated by the merchant and executed by the custodian. In this stage, WBTC will be minted, That is, the process of creating new tokens. The custodian provides reliable organization level security for WBTC. All issued WBTCs will be fully supported and verified by the on-chain reserve proof.

Burning is the behavior of exchanging Bitcoin for WBTC token, which can only be achieved by the merchant address. At this time, the amount of "to burn" will be deducted from the WBTC balance (on the chain) of the merchant, further reducing the supply of WBTC.

What is WBTC ？

Wrapped Bitcoin launched ERC20 token on Ethereum in January 2019. It was created to integrate Bitcoin and DeFi. One WBTC will always represent the value of one BTC. As ERC20 tokens, WBTCs transfer faster than ordinary BTCs, but its key advantage lies in its integration with dApps, Ethereum wallets and smart contracts.

WBTC has greatly improved liquidity. Many DeFi DApps require users to stake WBTC to use financial services. Currently, the project is managed by a decentralized autonomous organization (DAO) called WBTC DAO.

WBTC Crypto Wallet

Any wallet that supports ERC-20 format supports WBTC
Software wallets, such as imToken, MEW (MyEtherWallet), MetaMask, Atomic Wallet
Hardware Wallet: Trezor, Ledger