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A lot of folks will start asking you about #cryptocurrencies #blockchain #DeFi . 📊📈💯 Refer them to @eaglexchange @cryptocodeHQ @yellowcard_app

♥️ if you aren't selling. #HODL

What's your take?

For real tho, we can’t wait. #BTC #cryptocurrency

Just build

Choose one

What are you doing with your crypto right now?

Crypto quote Tuesday #Cryptoquote #Crypto

#Crytpocode is the tweet.... Sit back and watch.

Prices on June 16 2021: $BTC - $40,000 $ETH - $2,521 $XRP - $0.87 $ADA - $1.56 $LINK - $24,328 $BNB - $362 $MATIC - $1.60 Don't forget to put things into perspective 🤝

That's why we have Blockchain solutions like @Polkadot , @cosmos @harmonyprotocol working to solve the problem of interoperability between blockchains and we hope a scalable decentralized option is developed for wrapping tokens. Follow @cryptocodeHQ for Crypto related contents.

CLOSING THOUGHTS Wrapped tokens helps bridge the gaps between blockchains, unlocking more possibilities we can achieve with them. Though wrapped tokens have limitations; we have to trust a custodian to mint wrapped tokens also cost maybe high which can result to slippage...

Binance bridge( A custodian of binance smart chain) allows you to wrap tokens like #ETH, #XRP, #Polkadot and use them on #BSC in form of BEP-20 tokens. From staking in binance launchpool or trading them.

USE CASES Owners of #Bitcoin the largest Crypto cannot user their token on world biggest #DeFi ecosystem ( due to lack of interoperability. Creating a Wrapped version of BTC on Ethereum Blockchain will enable users to use WBTC on the Ethereum blockchain seamlessly 🚀

IMPORTANCE OF WRAPPED TOKENS It enhances interoperability between Blockchains: they allow non-native tokens to be used on a given blockchain. Wrapped tokens increase liquidity of assets on exchanges : The ability to wrapp an idle assets and use them on other blockchain.

HOW DO WRAPPED TOKENS WORK? Wrapped tokens needs a custodian ( A DAO, Smart contract or multisig wallet) that holds exact value of the Wrapped Crypto as the Wrapped amount. so for every 1 wrapped token minted, the custodian needs to hold 1 original token. 1 Wrapped X = 1 X

Blockchains have no way of communicating together because they're driven by different functionality, and consensus protocols thereby making them not ready to interoperate. I can use Wrapped X on Y Blockchain ( X is wrapped with Y) Don't worry about the wrapping process 🌝..

WHY WRAPPED TOKENS? Wrapped tokens are ways of bridging the gap between blockchains. Different ecosystems, now think of blockchain technology as an operation system then Blockchains such as @ethereum, @Cardano and @vechainofficial as applications built on it.

A wrapped token is similar to a stablecoin to which derives it value from a fiat currency but a wrapped token derives it value from a crypto on another Blockchain. Like Tether derives it value from USD, a wrapped token derives it values from the wrapper

It's time to learn 🚀 WHAT ARE WRAPPED TOKENS? A wrapped token is a cryptocurrency whose value is pegged to that of another. If a Nigerian wants to travel to USA, He has to convert his NGN to USD which is the native currency of America in order to make transactions. #CryptoNews