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None of these explanations have ever covered what the hell WETH is, or the reason the person was trying to exchange it. Seems like there's still a lot of implic
by CydeWeys 5y ago
None of these explanations have ever covered what the hell WETH is, or the reason the person was trying to exchange it. Seems like there's still a lot of implicit assumptions in these explanations.
- runeks 5y agoWETH is short for “wrapped Ether”. It’s a token issued on the Ethereum blockchain. This token conforms to the so-called ERC-20 standard, which is — essentially — the API of the token. Ether itself does not conform to the ERC-20 standard, which is why wrapping it is necessary to e.g. exchange it for other ERC-20 tokens via a smart contract designed for this purpose (confusingly called a “swap”).
- m3kw9 5y agoWETH is the ERC20(coins) version of ETH. It turns ETH into coins, so the contracts have an easier time interact with it