Today the ERC-20 Standard governs how Ethereum-based tokens are transferred in the Ethereum Network, however this was not the case when Ethereum originally released its native cryptocurrency called ETH (pronounced Eeth). This means that while latter crypto tokens built on the Ethereum Blockchain comply with the ERC-20 Standard, ETH does not. ETH is very important in the trading environment, so to remedy this situation it is necessary to convert ETH to a form that is compliant with the ERC-20 Standard. To do this we “Wrap” the ETH to make it ERC-20 compliant. Simply put then, “wrapped ETH” or WETH (pronounced Weeth), functions the same and is equal to one ETH. Once you have converted ETH to WETH you can freely trade your WETH with anyone holding an ERC-20 token and those receiving WETH can convert back to ETH by unwrapping the ETH. Click here to learn more.
What is WETH and why do you need it? Print
Created by: Suchit Gupta
Modified on: Wed, 5 Sep, 2018 at 11:41 PM
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