Choosing a random number between one and one thousand and exploring the cryptocurrency in that position in relation to its market cap today we will be looking at Wrapped Bitcoin(WBTC). If you like sweets in a wrapper WBTC sounds like the perfect treat for you.

What problem is it solving?

Do you own btc and are looking defi and other projects in the ethereum ecosystem but you don't want to convert our bitcoin gold into some other trash token? Then WBTC is the perfect it provides the value of btc and the utility of defi and other projects all in one.

How it works?

Each WBTC is an ERC-20 token that is backed on a 1:1 basis. Depending on what network you are using you can freely convert between WBTC and BTC. From there on you can take full advantage of all of the services the ethereum ecosystem has to offer. Do be wary of how your bitcoin is wrapped and always dyor before you buy something.

How is it different from Bitcoin?

Besides having access to the ethereum network the two coins aren't that different.

Conclusion

WBTC is a different flavour of btc and with new flavours comes the opportunity to savour new tastes and explore a whole new world. Personally, I'm looking forward to smart contracts where you can stake your WBTC. What WBTC projects are you interested in?