Details about Wrapped Zcash cryptocurrency
€104
543
1
Unknown
https://www.wrapped.com
@wrappedfi
Wrapped Zcash price charts
WZEC exchanges
Wrapped Zcash, the crypto
Wrapped Zcash (WZEC) is an ERC-20 token that represents Zcash (ZEC) on the Ethereum network. It allows ZEC holders to use their tokens on Ethereum-based decentralized applications (dApps) and DeFi platforms, as ZEC is primarily used on its own blockchain and has limited usage on Ethereum.
The point
The main point of Wrapped Zcash (WZEC) is to increase the interoperability of Zcash with other decentralized networks, specifically Ethereum. It enables ZEC holders to use their tokens in the increasingly popular DeFi ecosystem, which offers a range of financial services and tools, such as lending, borrowing, and trading, on a decentralized platform.
The problem
One of the main problems Wrapped Zcash (WZEC) tries to solve is the lack of interoperability between different decentralized networks. ZEC is primarily used on its own blockchain, which limits its usage on other platforms. By creating an ERC-20 version of ZEC, users can hold ZEC and use it on the Ethereum network, which offers a wider range of dApps and DeFi tools. Additionally, WZEC aims to bring more liquidity and trading volume to ZEC, ultimately benefitting the ZEC ecosystem as a whole.
Compare WZEC and BTC performance
| Timeframe | WZEC | BTC |
|---|---|---|
| 1h change | 0 % | -0.234911 % |
| 24h change | 0 % | 1.25967 % |
| 7 day change | 0 % | -1.44157 % |
| 14 day change | 0 % | -9.47799 % |
| 30 day change | 0.68 % | -7.33786 % |
| 200 day change | -14.28 % | 129.168 % |
| Year change | 0 % | 129.33 % |