Wrapped tokens are being widely adopted because they enable crypto traders to leverage their assets on multiple blockchains or distributed ledger technology (DLT) platforms. For instance, Wrapped Bitcoin (WBTC), which are BTC tokens that have been “wrapped” into another token format, may be used on the Ethereum blockchain to conduct transactions involving smart contracts. But it might now be possible to completely eliminate these so-called Wrapped tokens from cryptocurrency trading. With this new approach, platform developers could significantly lower the time, effort, and costs associated with conducting DeFi-related transfers. By effectively removing the need to wrap tokens, transactions could become a lot more efficient, because the process of actually wrapping tokens is quite cumbersome, particularly for novice traders. Native Cryptocurrency Tradable Without Wrapping Tokens Portal’s cross-chain decentralized exchange with atomic swaps has been specifically created to remove the requirement of wrapping tokens. This is possible because the virtual currency of incompatible blockchains or DLT networks can be traded natively and without needing to interact or involve a risky third party. Atomic swaps are basically automatic exchange contracts that enable different parties to trade tokens belonging to separate blockchain networks. Often called atomic cross-chain trading, this approach effectively eliminates the requirement for c...
