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Time Stamps

0:00 – 1:40 – Intro
0:47 – 3:08 - **What Are Wrapped Tokens?
3:08 – 4:46– How do Wrapped Token works
4:47 – 6:47 - Advantages of Wrapped Tokens
6:47 – 8:44 – Disadvantages of Wrapped tokens
8:44 – 9:05 – Outro

What is Wrapped Bitcoin? What is $WBTC? In this video, I attempt to answer the questions above by carrying out a thorough analysis of the upcoming project. Wrapped Bitcoin is not an ICO. This This is a project being jointly developed by several existing players in the Crypto space.

Wrapped Tokens: a tokenized version of an asset which makes it possible for the asset to exist on a different blockchain. Simply put, the point of wrapping a token is to make it available on other blockchains so to have the same benefits of that specific blockchain. A Wrapped token is also pegged to the value of the asset they represent.

Wrapped tokens are tokenized replicas of a coin that exists on another blockchain and represents the real-time value of the underlying asset. The original token is locked securely in a digital sandbox when a wrapped token is created on a host blockchain. And since the wrapped forms of a token are not created in that protocol, they can be unwrapped.

It is worth noting that original and wrapped tokens maintain the same value during the transition processes - the minting and burning procedures. This is to ensure that the prices do not change. When a token is wrapped, it may access and function as the native tokens of other blockchains.

- Wrapped tokens in crypto allow one network to use another network's coin to do new and useful things. For example, Bitcoin doesn't have smart contracts, but Ethereum does, so you can create a wrapped Bitcoin to interact with smart contracts on the Ethereum network.

Wrapped tokens are driving the rise of decentralized finance since projects may now deploy tokens that were not native to the host blockchain. Remarkable breakthroughs like these will likely catapult development to a whole new level as DeFi innovation grows rapidly.
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DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR

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