Hello All Steemians !!! <div class="text-justify"><p> Today I'm going to make my Steemit Crypto Academy Homework task by professor @pelon53 that talking about Wrapped Tokens. Very interesting lessons. Actually I have very little knowledge about this, but I will try to discuss it to improve my writing skills. On this occasion I will try to discuss it. </div></p>   ### Name at least 2 Blockchains that use the Wrapped BTC, excluding Ethereum. Explain. The world of cryptocurrency has many tokens that can be used as investments in various networks. BTC is a token that has dominance because of its presence which has a very positive impact on the ecosystem. Therefore, the presence of the wrapped BTC is very useful for users to be able to transact on other blockchain. This greatly benefits users as they can share investments in the world of DeFi. In this case, several blockchain networks have innovated and developed wrapped BTC to join and can be used at any time. The Ethereum blockchain is the most important here and several other blockchain are involved is the TRON blockchain and the Binance Smart Chain (BSC). #### Wrapped BTC (wBTC) on TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> TRON blockchain has developed wrapped BTC so that it can be transacted on their blockchain. This is evidenced by the collaboration and agreement between BitGo and the TRON Foundation to increase adoption and improve blockchain quality. This is very useful and beneficial for users as they can use wBTC in the DeFi world to make transactions and invest. This will support the blockchain ecosystem to grow and become better. In this case, the TRON Blockchain consider wBTC as the TRC-20 token. Here BitGo acts as a custodian who has the authority and maintains system governance. This shows that BitGo is a third party in the wBTC transaction process carried out by each user. The operating system is that users can transact wBTC on the TRON blockchain by sending BTC through the platform and heading to Bitgo. Furthermore BitGo blocks BTC sent by users and will send the same amount of wBTC.  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> Based on the picture above, the Total Supply is 99.89000964 wBTC. Holders are 430 addresses. Transfers are 18.752 transactions. The Price is 59320.783204 USD. The Market cap is 5.925.553.61 USD. #### Wrapped BTC (BTCB) on Binance Smart Chain  <center>[Source Binance Smart Chain](https://bscscan.com/tokens)</center> Binance Smart Chain has developed BTC BEP2 (BTCB) so that it can be transacted on their blockchain. This is evidenced by the presence of BTCB which is BTC which is wrapped to make it easier for users and improve blockchain quality. This is very useful and beneficial for users as they can use BTCB to transact in the DeFi world to earn profits and increase capital. This will have a positive impact on the blockchain ecosystem. In this case, Binance Bridge plays an important role in facilitating and bridging the transaction process carried out by users in the Binance Smart Chain. They act as intermediaries who will process and wrap BTC into BTCB. The operating system is that users will earn BTCB by sending their BTC to the Binance cold wallet. The next process will be carried out by Binance Bridge and users will be given the same amount of BTCB.  <center>[Source Binance Smart Chain](https://bscscan.com/tokens)</center> Based on the picture above, The Price is $59134.96. The Market cap is $6.652.741.88. The Total Supply is 9112.501 BTCB. Holders are 161.243 addresses. Transfers are 9.779.434 transactions.  ### What is the Difference between the wETH of the Ethereum Platform and the wETH of the TRON Platform? Explain - Different Blockchain wETH of the Ethereum platform runs on the Ethereum blockchain and users can make direct transactions. wETH of the TRON platform runs on the TRON blockchain and users can transact wETH on the TRON blockchain. - Tokens wETH of the Ethereum platform requires users to convert ETH into ERC-20 tokens. wETH of the TRON platform considers wETH to be a TRC-20 token. - Third party wETH of the Ethereum platform does not have a third party in transactions. wETH of the TRON platform has a third party BitGo as the authority that maintains system governance in transactions. - System wETH of the Ethereum platform has a decentralized system because it does not use other blockchains in the transaction process. wETH of the TRON platform has a centralized system because it uses other blockchains in the transaction process. - Burning Process wETH of the Ethereum platform does not have to burn ETH tokens when a user wants to convert ETH back. wETH of the TRON platform must burn ETH tokens when the user wants to convert ETH back.  ### Make an Investment of at least $5 of a Wrapped Token - Here I will make an investment of a wrapped token by swapping TRX with wBTC on my Tronlink wallet. - I opened the Tronlink wallet and clicked on Swap feature. I chose wBTC from several available token as in the following 2 pictures.  <center>*Screenshot from Tronlink Wallet*</center> - I filled in the amount of 60 TRX and clicked on Instant Swap. I confirmed the transaction with the transaction details 60 TRX = 0.0000978 and Fee = 0.18 TRX as in the following 2 pictures.  <center>*Screenshot from Tronlink Wallet*</center> - TRX to wBTC swap transaction was successful. I already have wBTC in my Tronlink wallet as in the following 2 pictures.  <center>*Screenshot from Tronlink Wallet*</center>  ### Explain in detail the Wrapped Token of the TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> TRON blockchain has improved the quality of its blockchain and provided innovation related to presenting wrapped tokens. Wrapped tokens are very useful and benefit users in providing the flexibility to exchange and invest in several tokens such as wBTC, wETH, wBTT and wTRX. This is evidenced by the presence of the wrapped token in the TRON blockchain which can be seen and is available on TronScan. #### wBTC of the TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> wBTC is wrapped BTC present in the TRON blockchain to facilitate users to invest and exchange BTC in the DeFi world and use other functions in the TRON Blockchain. Here Bitgo acts as a custodian who has the authority and maintains system governance. The wBTC token detail is the Total Supply is 99.89000964 wBTC. Holders are 430 addresses. Transfers are 18.752 transactions. The Price is 59320.783204 USD. The Market cap is 5.925.553.61 USD. Reputation is OK and more information available. #### wETH of the TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> wETH is wrapped ETH present in the TRON blockchain to facilitate users to invest and exchange ETH in the DeFi world and use other functions in the TRON Blockchain. Same as wBTC, Bitgo acts as a custodian who has the authority and maintains system governance. The wETH token detail is the Total Supply is 1.998.59880000 wETH. Holders are 295 addresses. Transfers are 2.020 transactions. The Price is 4537.073635 USD. The Market cap is 9.067.789.92 USD. Reputation is Neutral and more information available. #### wBTT of the TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> wBTT is a wrapped wBTT or TRC-20 token. BTT is one of the tokens that runs on the TRON blockchain and is created on the basis of the TRC-10 token. Here the TRON blockchain has developed wBTT to make BTT compatible with TRC-10 and TRC-20 tokens so that users can make transactions easily. The wBTT token detail is the Total Supply is 44.200.960.510.448477 wBTT. Holders are 50.591 addresses. Transfers are 1.660.698 transactions. The Price is 0.003556 USD. The Market cap is 157.170.384.95 USD. Reputation is OK and more information available. #### wTRX of the TRON Blockchain  <center>[Source Tronscan](https://tronscan.org/#/searchResult/wrapped?type=tokens)</center> wTRX is wrapped TRX and is the original token of the TRON blockchain. The tokens running on the TRON blockchain are TRC-20 and TRC-10. Here wTRX has been developed in their own blockchain enabling users to make transactions easily and has a decentralized system. The wTRX token detail is the Total Supply is 17.621.538.419.883325 wTRX. Holders are 5.446 addresses. Transfers are 1.483.965 transactions. The Price is 0.096119 USD. The Market cap is 1.693.756.614.18 USD. Reputation is OK and more information available.  ### What is to Mint a Wrapped Token? What is Burning a Wrapped Token? What is your Function? Create an example explaining the process #### Minting Wrapped Token Minting Wrapped Token is the process of minting or creating tokens to the blockchain that involves 3 components are users, exchange platforms and custodians. This is very useful and helps users in running transaction processes on different blockchains. The token minting process is when the user will make a transaction on the exchange platform. The exchange platform will send the user's transaction request to the BitGo as the custodian of the token. After the custodian receives the request, they will mint the wrapped token and it will be sent to the user via the exchange platform. The wrapped token and the original token have the same value or have a 1:1 ratio. #### Burning Wrapped Token Burning Wrapped Token is the process of burning or removing tokens transacted by users. It aims to reduce the supply of tokens in order to stabilize the prices of wrapped tokens and original tokens. This greatly benefits users as the price of both tokens remains stable. The process of burning wrapped token is when the user will make transactions on the exchange platform. The exchange platform will send user transaction requests to BitGo as token custodian. Once the custodians receive the request, they will burn the wrapped token and the original token will be sent to the user via the exchange platform. The wrapped token and the original token have the same value or have a 1:1 ratio. #### Illustration  <center>*Made from Power Point*</center> Based on the illustration above, Jones as user will make a transaction of 5 BTC on the exchange platform based on the TRON blockchain. The exchange platform will send a transaction request of 5 BTC to 5 wBTC to BitGo. Once BitGo accepts the transaction request, they will mint 5 wBTC and send it to Jones via the exchange platform. wBTC and BTC have the same value or have a 1:1 ratio.  <center>*Made from Power Point*</center> Based on the illustration above, a few days later, Jones as a user wanted to return the original BTC token from his wBTC. Jones will make a transaction of 1 wBTC on the same exchange platform based on the TRON blockchain. The exchange platform will send a transaction request of 1 wBTC to 1 BTC to BitGo. Once BitGo accepts the transaction request, they will burn 1 wBTC and 1 BTC will be sent to Jones via the exchange platform. wBTC and BTC have the same value or have a 1:1 ratio.  ### Conclusion Wrapped tokens are a great innovation and have a positive impact on the blockchain ecosystem where users can transact and invest tokens on different blockchains. This represents an increase in the functionality and quality of the blockchain in the DeFi world. In this case, the minting and burning wrapped token process involves 3 components that are interconnected to produce a successful transaction process. Users can rely on the exchange platform to carry out wrapped token transactions that are maintained by BitGo as custodian. The presence of wrapped tokens is very useful and benefits users in the blockchain ecosystem and the cryptocurrency world.
| post_id | 94,785,182 |
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| author | elnieno |
| permlink | wrapped-tokens-steemit-crypto-academy-or-s4w6-or-homework-post-for-pelon53 |
| category | hive-108451 |
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| created | 2021-10-16 10:05:54 |
| last_update | 2021-10-16 10:05:54 |
| depth | 0 |
| children | 2 |
| net_rshares | 24,121,490,263,135 |
| last_payout | 2021-10-23 10:05:54 |
| cashout_time | 1969-12-31 23:59:59 |
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| curator_payout_value | 9.946 SBD |
| pending_payout_value | 0.000 SBD |
| promoted | 0.000 SBD |
| body_length | 14,009 |
| author_reputation | 36,400,815,307,582 |
| root_title | "[Wrapped Tokens] - Steemit Crypto Academy | S4W6 | Homework Post for @pelon53" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| elnieno | 0 | 31,445,030,632 | 100% | ||
| doppley | 0 | 29,628,433,505 | 100% | ||
| steemcurator02 | 0 | 23,984,468,935,725 | 15% | ||
| pelon53 | 0 | 56,869,053,660 | 48% | ||
| walter2021 | 0 | 8,022,784,594 | 100% | ||
| ononiwujoel | 0 | 5,629,974,368 | 61% | ||
| aasifwani | 0 | 4,914,457,133 | 100% | ||
| lirvic | 0 | 511,593,518 | 100% |
<div class="text-justify"></div class="text-justify"> Gracias por participar en Steemit Crypto Academy Season 4, Semana 6: No | Preguntas. | Puntaje. ---|--------------------------------------|------------- 1 | Presentaci贸n y originalidad | 2.0/2.0 | 2 | Profundidad del tema | 2.0/2.0 | 3 | Cumplimiento del tema. | 1.5/2.0 | 4 | Calidad de An谩lisis. | 2.0/2.0 | 5 | Lenguaje/Compresi贸n. | 2.0/2.0 | 6 | ***Total*** | ***9.5/10*** | - En general su tarea cumple con los objetivos solicitados. Hizo muy buena investigaci贸n. - Me parece muy bien su ilustraci贸n de acu帽ado y quema de Wrapped tokens. > Su objetivo es reducir el suministro de tokens para estabilizar los precios de los tokens envueltos y los tokens originales. - Realmente lo que sucede es que los Wrapped tokens que entraron al sistema y no pertenecen al ecosistema, porque no han sido minado, hay que sacarlos de circulaci贸n, cuando se solicitan los originales. <h3>Recomendaciones:</h3> - Espero seguir leyendo tus publicaciones. <h3>Calificaci贸n: 9.5 </h3>
| post_id | 94,814,455 |
|---|---|
| author | pelon53 |
| permlink | r14izr |
| category | hive-108451 |
| json_metadata | {"app":"steemit\/0.2"} |
| created | 2021-10-17 13:32:45 |
| last_update | 2021-10-17 13:32:45 |
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| root_title | "[Wrapped Tokens] - Steemit Crypto Academy | S4W6 | Homework Post for @pelon53" |
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| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |
Thank you professoorrr!!!
| post_id | 94,829,039 |
|---|---|
| author | elnieno |
| permlink | r15kk9 |
| category | hive-108451 |
| json_metadata | {"app":"steemit\/0.2"} |
| created | 2021-10-18 03:05:00 |
| last_update | 2021-10-18 03:05:00 |
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| root_title | "[Wrapped Tokens] - Steemit Crypto Academy | S4W6 | Homework Post for @pelon53" |
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| max_accepted_payout | 1,000,000.000 SBD |
| percent_steem_dollars | 10,000 |