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RBTC vs. WRBTC: What are Wrapped Cryptocurrencies?

 2 years ago
source link: https://hackernoon.com/rbtc-vs-wrbtc-what-are-wrapped-cryptocurrencies
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RBTC vs. WRBTC: What are Wrapped Cryptocurrencies?

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Wrapped tokens allow non-native assets to be used on any blockchain, build bridges between networks and implement interoperability in the cryptocurrency space. Wrapped cryptocurrencies or tokens are pegged to the value of another original crypto or assets like gold, stocks, shares, and real estate and put to work on the DeFi platforms. The original asset is ‘wrapped’ into a digital vault, and a newly minted token is created to transact on other platforms. For example, RBTC is the native cryptocurrency on the RSK blockchain and WRBTC is an ERC20 token that wraps RBTC.

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