Have you ever heard of wrapped Ether? While it has the same value as its unwrapped counterpart, there is so much more to wETH.
on the Ethereum blockchain. Through wrapping, underlying coins are tokenized and wrapped with a certain blockchain’s token standards, thus allowing for their use on that network.Unlike Ether, wETH cannot be used to pay gas fees on the network. Because it is ERC-20 compatible, however, it can be used to provide more investment and staking opportunities on DApps. wETH can also be used on platforms like OpenSea to buy and sell through auctions.
In short, it’s not really a matter of ETH vs. wETH since wrapping Ethereum is more of a workaround than a permanent solution. With the number of upgrades slated toHow to wrap Ether ? In this example, we’ll be using the OpenSea platform to convert ETH to wETH using the wETH smart contract. Next, enter the value for the amount of ETH to be converted to wETH. Then, click “Wrap ETH.” This will call the wETH smart contract to convert ETH into wETH.A confirmation message will then appear once the wrap is complete.
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