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As the cryptocurrency landscape continually evolves, novel concepts and innovations emerge, refining and expanding the existing ecosystem. One such innovation is Wrapped Ethereum (WETH), a term that has become increasingly significant in decentralized finance (DeFi) and beyond. In this all-encompassing guide, we unravel the complexities of WETH, examining its purpose, how it works, and its implications for the crypto economy.
Wrapped tokens are a type of cryptocurrency that represents a tokenized version of another asset on a different blockchain. They enable assets to be used across various blockchain protocols that would otherwise be incompatible.