Wrapped Ethereum is now available on the Tezos blockchain.
The cryptocurrency space has become moreinterconnected. The developers have created a bridge between the Ethereum and Tezos blockchains.
With the launch of the WRAP Protocol by Bender Labs, ERC-20 and ERC-721 tokens have become Tezos compatible. Ethereum holders will now be able to interact with the Tezos ecosystem.
“Wrapped” tokens have become a common wayconnecting users of different blockchain platforms. One of the best examples is Wrapped BTC (WBTC), which is essentially an ERC-20 version of Bitcoin on the Ethereum blockchain.
The success of WBTC can be assessed by capitalization,which has already exceeded $8 billion (19th place in the Coinmarketcap rating). It is currently the fifth largest token on Ethereum after USDT, UNI, LINK and USDC.
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Based on materialscointelegraph.com
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