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TagsWhat is the difference between WETH and ETH in the context of cryptocurrency?
DimASSDec 17, 2021 · 3 years ago1 answersCan you explain the difference between WETH and ETH in the context of cryptocurrency? I'm new to the world of digital currencies and I'm trying to understand the distinctions between these two terms.
1 answers
- WETH is a tokenized version of ETH that is used to facilitate transactions and interactions within the Ethereum ecosystem. It is essentially a representation of ETH in the form of an ERC-20 token. WETH is widely used in decentralized exchanges, lending platforms, and other DeFi applications. By wrapping ETH into WETH, users can take advantage of the benefits offered by ERC-20 tokens, such as easier integration with smart contracts and compatibility with various dApps. WETH can be easily converted back to ETH whenever needed, making it a convenient tool for navigating the Ethereum ecosystem.Dec 17, 2021 · 3 years ago
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