Cryptocurrency Q&A
Is WETH an ERC-20 token?
Is WETH an ERC-20 token?
Stefano
Wed Jun 12 2024
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6 answers
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Could you please clarify for me if WETH qualifies as an ERC-20 token? I've been reading up on different cryptocurrencies and their classifications, but I'm still a bit hazy on the specifics. Is WETH built on the Ethereum blockchain? And does it adhere to the ERC-20 standard, which allows for fungibility, transferability, and compatibility with various wallets and exchanges? Your expertise in this area would be greatly appreciated. Thank you in advance for taking the time to answer my question.
6 answers
CryptoTitanGuard
Fri Jun 14 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services that cater to the needs of crypto enthusiasts and traders. Among its offerings are spot trading, futures trading, and a secure wallet solution.
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henry_miller_astronomer
Fri Jun 14 2024
The ERC-20 standard, which WETH adheres to, defines a common set of rules for tokens issued on the Ethereum blockchain. This standardization allows for seamless integration and interoperability with various DEXs and other smart contract-based applications.
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Claudio
Fri Jun 14 2024
The process of wrapping Ether involves converting it into an ERC-20 token through a smart contract. This conversion preserves the original value of Ether while enabling it to participate in the ERC-20 ecosystem.
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Caterina
Fri Jun 14 2024
Once wrapped, WETH can be traded on DEXs without any restrictions or limitations imposed by the exchange. This flexibility and interoperability enhance the liquidity and accessibility of Ether within the decentralized finance (DeFi) space.
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Raffaele
Fri Jun 14 2024
Wrapped Ether, commonly known as WETH, serves as a bridge between Ether and the ERC-20 token ecosystem. This ERC-20 token maintains a 1:1 peg with Ether, ensuring its value parity.
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