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Wrapped Ethereum: A Solution to Interoperability Wrapped Ethereum tokens (wETHs) are an approach to utilize ETH on blockchain networks other than Ethereum. They enable easy trading between the Ethereum blockchain and Ethereum request for comment (ERC) - 20 tokens. Moreover, they boost the blockchain development services like the decentralized finance (DeFi) system. In this article, we will get into the details of wETH and its effects on Ethereum blockchain application development like DeFi. Understanding Wrapped Ethereum (wETH) A wrapped Ethereum (wETH) is a tokenized version of Ethereum (ETH) at a 1:1 ratio. Essentially, it is an ERC-20 token pegged to the value of the ETH. Users can swap their wETH with ETH but cannot use them as transaction fees. Suggested Read | ERC-20 Token Standard | Things You Must Know The Issue with Ether (ETH) DeFi protocols run with the help of smart contracts. ERC-20 is among the most popular token standard on Ethereum, and most smart contracts rely on this standard. Following the rules of this standard, any token can become compatible with Ethereum and its related platforms. Additionally, the ERC-20 token is a widely accepted blueprint for token development across other blockchains like Avalanche and Polygon. This standard removes a requirement for custom codes for new tokens. However, the founders introduced ERC-20 standard way after the development of Ethereum's native currency, ETH. It means that ETH does not adhere to this standard by default. It creates an incompatibility between ETH and ERC-20 tokens. Consequently, many dApps can work with ERC-20 tokens but are not compatible with ETH. Wrapped Ethereum addresses this issue by making Ethereum compatible with the ERC-20 token standard. It is an ETH wrapped in an ERC-20 standard. It enables platforms with ERC-20 to support ETH. Check It Out | ERC-20 Token Standard | A Compact Guide to Development The Working of Wrapped Ethereum Users can send their ETH to a wETH smart contract, which then generates wETH in return. Meantime, smart contracts lock the ETH to maintain a reserve for wETH. Users can also unwrap their ETH after depositing them into the contract. The computer code will remove or burn wETHs from circulation to ensure constant value. It will give an equal amount of ETH to depositors. Users can get wETH by swapping them with other crypto tokens on various exchanges. Also, Visit | Unexplored ERC Token Standards On Ethereum Benefits of Wrapped Ethereum wETH offers the following benefits: Interoperability wETH resolves the interoperability issue of Ethereum by allowing seamless interaction between Ethereum and other ERC-20 tokens. It improves the overall efficiency and facilitates transactions in the network. Price Stability Since smart contracts peg wETH to ETH price at a 1:1 ratio, their values remain the same. It ensures a stable and constant value of wETH that is essential for smooth trading in DeFi apps. DeFi Compatibility As wETH is an ERC-20 token, it is compatible with many DeFi applications and protocols. Enhanced Liquidity wETH ensures liquidity within decentralized exchanges (DEXs). It facilitates easy trade and execution of transactions. Simplified Token Swaps wETH simplifies ETH swapping with ERC-20 tokens. It serves as a bridge between both types of assets. Further, the token streamlined the user experience. Explore More |Blockchain Interoperability: Importance, Challenges, and Solutions Future Possibilities of Wrapped Ethereum Wrapped Ethereums facilitate the interaction between Eth and ERC-20 tokens, enabling a much more decentralized ecosystem. It offers trade and exchange between different Ethereum-based platforms. They play a crucial role in offering valuable services to Ethereum users. It may also serve as a stabilizer between various blockchains and maintain consistent prices among them. Need to know more about wrapped Ethereum or wish to create a token using the ERC-20 token? Our blockchain experts can provide you with assistance. Contact us to avail yourself of our services.

Technology: MEAN , PYTHON more Category: Blockchain

Dimple Dasila

30 May 2023

What Is a Cross-Chain NFT Marketplace And Why It Matters in 2025 🚀 TL;DR: Cross-chain NFT marketplaces are the next evolution in Web3. They allow users to mint, trade, and move NFTs across multiple blockchains seamlessly. This guide explores how they work, the tech powering them (bridges, oracles, smart contracts), key examples, and the real-world impact.Why Cross-Chain Marketplaces MatterEver tried listing your NFT on another blockchain—only to realize you're stuck?Most NFT marketplaces are siloed. Without complicated wrapping or bridging, your ETH-minted NFT can't be listed or traded on Polygon or BNB Chain.Cross-chain NFT marketplaces solve this.They let users mint, move, and trade NFTs across different blockchain ecosystems—expanding access, liquidity, and usability.What Is a Cross-Chain NFT Marketplace?A cross-chain NFT marketplace is a platform that supports NFT activity across multiple blockchain networks—Ethereum, Polygon, Avalanche, BNB Chain, etc.Instead of being limited to one blockchain, users can:List NFTs from one chain on anotherMove NFTs across chains while preserving metadata and ownershipAccess broader audiences and liquidityAlso, Discover | Cross Chain Asset Transfers Using AxelarHow Do They Work?Cross-chain functionality relies on interoperability protocols that allow blockchains to “talk” to each other securely. Here are the core components:Cross-Chain BridgesBridges lock NFTs on the source chain and mint a wrapped version on the destination chain.Relayers + OraclesRelayers listen for events (like an NFT lock) and notify the destination chain. Oracles validate and ensure data integrity between chains.General Message Passing (GMP)Protocols like Axelar and LayerZero enable smart contracts on one chain to trigger logic on another—essential for multi-chain NFT marketplaces.Atomic SwapsUsed to ensure NFT/token exchanges across chains happen simultaneously or not at all—no counterparty risk.SPV (Simplified Payment Verification)Lightweight verification that confirms ownership across chains without downloading the full chain history.Key BenefitsInteroperabilityBreaks blockchain silos—list and trade assets cross-chain.LiquidityMore users = more trades = healthier market.24/7 AccessibilityUsers from any chain can access your listings.Multi-Token SupportTrade NFTs using ETH, BNB, MATIC, etc.ScalabilityTraffic can be distributed across multiple chains, reducing gas congestion.Also, Explore | Building a Cross-Chain NFT Bridge using Solana WormholeReal-World ExamplesAxelarSeaA marketplace built on Axelar's GMP that lets users trade NFTs across chains like Ethereum and Avalanche with a single wallet.MetaNFTSupports cross-chain NFT minting and listing across Ethereum, Polygon, and BNB Chain—helping creators reach wider audiences.Moonbeam + Polkadot (XCM)Supports substrate-based cross-chain NFT interactions using Cross-Consensus Messaging (XCM).You may also like | Creating Cross-Chain Smart Contracts with Polkadot and SubstrateChallenges Still ExistSecurity RisksBridges and oracles are common targets—multiple hacks (Ronin, Harmony) prove the need for better designs.Regulatory AmbiguityJurisdictional control over assets that span multiple blockchains is still fuzzy.Custody ConcernsTokenized real-world assets need legal custody frameworks to back their value.Lack of StandardsRoyalty enforcement, metadata storage, and asset verification need unified protocols (e.g., ERC-4907, EIP-2981).The Hybrid Future of NFTsThis isn't about DeFi replacing TradFi—it's about enhancing it.Big players like BlackRock, Nike, and Franklin Templeton are already experimenting with tokenization and Web3 integrations.Cross-chain NFT marketplaces could be the key to:Bringing institutional trust into NFTsCreating global NFT liquidity hubsUnlocking real-world asset tokenizationFinal ThoughtsCross-chain NFT marketplaces are not just a “next-gen” idea—they're already reshaping how NFTs are built, traded, and understood.These platforms offerthe foundation for a more open, efficient, and inclusive digital asset economy by solving liquidity fragmentation and enabling chain-agnostic NFT utility.Thinking of building one? Start with solid interoperability frameworks—and build for real users, not just the hype. Looking for NFT developers who can bring your vision to reality?Connect with our skilled NFT developers to get started.

Technology: ReactJS , ANGULAR more Category: Blockchain

Dimple Dasila

29 May 2023

The Future of Streaming: Decentralized Blockchain Solutions The future of streaming is decentralized. Although streaming services like YouTube are great, they have many drawbacks. Now, an alternative is emerging that is unrestricted by centralized organizations like Google and Facebook, thanks to blockchain technology. In this quick guide, we explore crucial insights we need to know about decentralized streaming powered by blockchain development services in 2023, including how it functions and why it is better than conventional streaming solutions. Challenges With centralized services, a few substantial businesses control and decide what users can upload, discuss, and consequently, even think about. If they violate the rules of service, they are out. Online streaming services like YouTube now block content that was acceptable just a few years ago. At the same time, comment sections from news websites are disappearing. Decentralized streaming platforms can help in this situation. The Emergence of Decentralized Streaming Platforms Decentralized streaming platform development is becoming increasingly popular due to offerings like top-notch security, freedom of speech, and numerous other benefits. Take note of conventional sites, such as YouTube or Spotify. We observe that the site does not give content producers enough freedom to be completely honest with their audience about their opinion or content. However, the situation is the exact opposite on the decentralized streaming network. The content creators have enough freedom to express their opinions without any restrictions on a decentralized blockchain-based streaming network. Such a platform does not remove content from the platform until creators start advocating any antisocial movements like nudity, hate speech, or terrorism. The Odysee video platform is among the best examples of a decentralized video-sharing network. Content creator can submit their work to Odysee and get paid when viewers watch videos in LBRY coins. Also, Explore | Developing a Blockchain-Powered Media Streaming Platform Blockchain Technology has the Potential to Transform Streaming with the: Blockchain-Based Profile Creation: Digital identity-based account creation that contains immutable users interests and info Multiple Payment Gateway: Customizable, flexible crypto-based secure payment options, including digital cards and others Search and Geolocation: An easy-to-use tool that uses geolocation and finds broadcasts based on users' current location Multi-Access & Multi-Lingual: Multi-country access with multi-lingual streaming options to connect the global audiences Video Resolution Conversion: Video division into smaller segments to reduce extensive memory usage for server uploads User Ratings and Reviews: Reward mechanisms for users to rate and review a particular video accessible by other users Streaming Solutions Development with Blockchain On-Demand Streaming Platforms Development Creating blockchain-based on-demand streaming services enables viewers to pay per metered viewing and pay content owners depending on consumption viewing. With smart contracts, stakeholders can boost content distribution, consumption, and payment models, improve royalties administration, reach a bigger audience globally with multi-country access, and more. Moreover, they can encourage creative loyalty management initiatives to sustain steadfast customer loyalty. Live Streaming Platforms Development Providing live streaming solutions that are affordable, safe, and scalable enables users to create live or on-demand videos and power their streaming capabilities. It allows users to broadcast a variety of content with ease, including surveillance, conferences, gaming, coding, entertainment, educational courses, and more, using blockchain technology. Further, blockchain plays a crucial role in reducing infrastructure costs or high streaming bills significantly with quicker TPS (transaction processing per second) and scalability. Audio Streaming Applications Development Creating platforms based on smart contracts can address concerns with rights holders and royalty payments in the audio streaming sector, including on-demand music, instructional podcasts, and more. Direct access to music streaming for content providers enables them to share in the profits made from streaming. With blockchain-licensed intellectual property integration, it is possible to stop piracy and integrate innovative payment options like microtransactions and metered viewing available to users and artists. You may also like | How NFTs are Revolutionising the Music Industry A few of the Current Blockchain-based Streaming platforms Livepeer Livepeer is a decentralized peer-to-peer platform that runs on the Ethereum blockchain and primarily seeks to democratize live video. The Livepeer Token, or LPT, cryptocurrency allows users to engage in the live peer network. YouNow Similar to Livepeer, the video streaming network YouNow is for services like video chat and live broadcasts. Want to enter the decentralized video streaming platform market to increase revenue and turn your business into a unicorn, connect with our skilled blockchain development experts.

Technology: WORDPRESS , PYTHON more Category: Blockchain

Mudit Kumar

28 Mar 2023

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