Cryptos:
105
Exchanges:
10
Wallets:
108
Marketcap:
$2,240,820,532,294
Volume 24h:
$35,919,424,826
Wrapped Tokens
Share on social media
What does Wrapped Tokens mean in crypto terms?
Wrapped Tokens are a type of cryptocurrency token that are issued on a blockchain different from the native blockchain of the asset it represents, and are pegged to the value of that asset. They enable the representation of assets (like Bitcoin) on other blockchains (like Ethereum), allowing for more interoperability between different blockchain platforms. For instance, Wrapped Bitcoin (WBTC) is a wrapped token on the Ethereum blockchain that represents Bitcoin. Wrapped tokens allow for the use of other cryptocurrencies in decentralized finance (DeFi) applications, smart contracts, and decentralized exchanges on blockchains different from the native blockchain of the represented asset.
Did you find this term clearly defined?
Yes
No
Explore Other Crypto Terms
Wallet
In the context of cryptocurrency, a wallet is a digital tool that allows users to store, receive, and send cryptocurrencies.
Read More
Transaction Fee
A transaction fee is a fee incurred when making a cryptocurrency transaction on a blockchain network.
Read More
Tokenomics
Tokenomics is a term that combines 'token' and 'economics' and refers to the study of the economic models surrounding blockchain-based tokens.
Read More
SegWit (Segregated Witness)
SegWit, or Segregated Witness, is an upgrade to the Bitcoin protocol that was activated in August 2017.
Read More
2FA (Two-Factor Authentication)
Two-Factor Authentication (2FA) is a security mechanism that requires a user to provide two types of identification to access an online account or service.
Read More
51% Attack
A 51% Attack refers to a security risk in a decentralized blockchain network, where an individual miner or mining pool gains control of more than 50% of the network's hash rate, allowing them to unilaterally manipulate the blockchain.
Read More
Hash Rate
Hash Rate is a critical parameter in the world of cryptocurrencies, representing the number of hash operations a miner or the entire network can perform per second.
Read More
Lightning Network
The Lightning Network is a second-layer scaling solution designed to enable fast, low-cost transactions on blockchain networks like Bitcoin.
Read More