## Wrapped Bitcoin (WBTC) کیا ہے؟

Wrapped Bitcoin [Bitcoin](https://coinmarketcap.com/ur/currencies/bitcoin/) (BTC) کا ایک ٹوکنائزڈ ورژن ہے جو [Ethereum](https://coinmarketcap.com/ur/currencies/ethereum/) (ETH) بلاک چین پر کام کرتا ہے۔

WBTC [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) کے ساتھ مطابقت پذیر ہے — جو Ethereum بلاک چین کی مطابقت پذیری کا بنیادی معیار ہے — اسے غیر مرکزی ایکسچینجز، کرپٹو قرض دینے کی سروسز، پیشین گوئی کی مارکیٹس اور دیگر ERC-20- فعال غیر مرکزی فنانس ([DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance)) ایپلیکیشنز پر مشتمل ایکو سسٹم میں مکمل طور پر شامل کیا جا سکتا ہے۔

WBTC خودکار نگرانی کے حامل ٹریڈرز اور سرپرستوں کے نیٹ ورک کے ذریعے Bitcoin کے ساتھ 1:1 کے تناسب سے تقویت یافتہ ہے، جو اس بات کو یقینی بناتا ہے کہ اس کی قیمت ہر وقت Bitcoin کے ساتھ پیگ شدہ ہے اور صارفین کو BTC اور ETH نیٹ ورکس کے درمیان غیر مرکزی اور خودکار طریقے سے لیکویڈیٹی ٹرانسفر کرنے کی اجازت دیتا ہے۔

26 اکتوبر 2018 کو Wrapped Bitcoin کا پہلی بار اعلان کیا گیا تھا، اور اس کا باضابطہ آغاز 31 جنوری 2019 کو ہوا۔

### Wrapped Bitcoin کے بانیان کون ہیں؟

Wrapped Tokens پراجیکٹ، جس کا ایک حصہ WBTC بھی ہے، کی بنیاد افراد نے نہیں رکھی تھی، بلکہ یہ تین تنظیموں کا مشترکہ پراجیکٹ ہے: BitGo، Kyber Network اور [Ren](https://coinmarketcap.com/ur/currencies/ren/)۔

BitGo، جو 2013 میں امریکی کمپیوٹر سائنسدان اور کاروباری شخصیت Mike Belshe کی شراکت سے قائم ہوئی تھی، ادارہ جاتی ڈیجیٹل اثاثوں پر مبنی فرم ہے، جو تحویلی، ٹریڈنگ اور مالیاتی سروسز فراہم کرتی ہے۔ BitGo گوکہ WBTC کے ڈویلپرز میں سے ایک ہے، تاہم یہ اس کے اصل سرپرست کی ذمہ داری بھی ادا کر رہی ہے — یعنی یہ وہ ادارہ ہے جو WBTC ٹوکنز اور انہیں مزید منٹ کرنے کے لیے درکار کییز کو ہولڈ کرتا ہے۔

Kyber نیٹ ورک ایک آن بلاک چین لیکویڈیٹی پروٹوکول ہے جو مختلف کرپٹو کرنسی ٹوکنز اور DeFi ایپلی کیشنز کے انضمام کاری کی صلاحیت فراہم کرتا ہے۔ اس کی بنیاد 2017 میں Loi Luu، Victor Tran اور Yaron Velner نے رکھی تھی اور یہ سنگاپور میں واقع ہے۔ Ren کے علاوہ، Kyber نیٹ ورک نے WBTC بنانے میں بھی مدد فراہم کی ہے اور وہ اب بھی اس کے نیٹ ورک پر ایک مرچنٹ کے طور پر کام کرتا ہے — یعنی یہ وہ ادارہ ہے جو ٹوکنز کو BTC ریزروز کے ساتھ 1:1 تناسب سے برقرار رکھنے کے لیے WBTC ٹوکنز کو منٹ اور ضائع کرتا ہے۔

Kyber کی طرح، Ren بھی ایک ایسی کمپنی ہے جو کرپٹو کرنسی کے اثاثوں اور DeFi ایپلی کیشنز کے کراس بلاک چین انضمام پر توجہ مرکوز کرتی ہے اور اس ضمن میں RenBridge، RenVM اور دیگر ان جیسے حل بروئے کار لاتی ہے۔ 2017 میں Taiyang Zhang اور Loong Wang نے اس کی بنیاد رکھی تھی۔

### وہ کیا چیز ہے جو Wrapped Bitcoin کو منفرد بناتی ہے؟

مارکیٹ میں سب سے قدیم اور سب سے بڑی کرپٹو کرنسی ہونے کی بدولت، Bitcoin کو ایک بڑے صارفی بیس اور کئی درجن بلین ڈالر مالیت کے لیکویڈیٹی پول کا اعزاز حاصل ہے۔ تاہم، جدید معیارات کے لحاظ سے اس کی بلاک چین کی فعالیت نسبتاً بنیادی ہے۔

Bitcoin کے برعکس، Ethereum کو بنیادی طور پر اسمارٹ معاہدوں کی ٹیکنالوجی بروئے کار لاتے ہوئے استعمال کی زیادہ جدید صورتوں کی معاونت کے لیے بنایا گیا تھا، جس نے ایک مکمل انڈسٹری کو وجود دیا جسے "غیر مرکزی فنانس" کا نام دیا گیا ہے۔

Ethereum اور اس سے ماخوذ پراڈکٹس اپنے صارفین کو قرض دینے اور انشورنس کی طرح ایسے جدید مالیاتی آلات پیش کرتے ہیں، جس کے لیے اعتماد یافتہ درمیانی فریقین پر انحصار کرنے کی ضرورت نہیں ہوتی۔

ERC-20 اسٹینڈرڈ میں BTC کی "ریپنگ" کرنے سے، WBTC مالیاتی غیر مرکزی ایپلی کیشنز کے اس جدید ماحول میں Bitcoin جیسے اثاثے کے مکمل انضمام کو فعال کرتا ہے، جس کے نتیجے میں BTC کی مارکیٹ سے وابستہ بے پناہ لیکویڈیٹی بھی ساتھ میں آتی ہے۔

اس کے علاوہ، Wrapped Bitcoin ایسے ایکسچینجز، والیٹس اور ادائیگی کی سروسز کے لیے کام کرنا مزید آسان بنا دیتا ہے جو Ethereum کے ساتھ کام کرتی ہیں: ETH اور BTC نیٹ ورکس کے لیے دو الگ الگ نوڈز چلانے کے بجائے، وہ صرف ایک Ethereum نوڈ کے ذریعے WBTC آپریشنز کی معاونت کر سکتی ہیں۔

حتمی طور پر، Ethereum بلاک چین کا تیز اوسط بلاک ٹائم bitcoins کے مقابلے میں — بالترتیب تقریباً 15 سیکنڈ بمقابلہ 10 منٹ ہوتا ہے — یہ اس رفتار کو بڑھاتا ہے جس پر WBTC کو ٹرانزیکٹ کیا جا سکتا ہے۔

#### متعلقہ صفحات:

Ethereum نیٹ ورک پر Bitcoin سے پیگ کردہ دیگر ٹوکنز کے بارے میں مزید جانیں، جیسے کہ [renBTC](https://coinmarketcap.com/ur/currencies/renbtc/) اور [HBTC](https://coinmarketcap.com/ur/currencies/huobi-btc/)۔

اس حوالے سے ہماری تفصیلی تعلیمی رہنمائی دیکھیں کہ [Ren](https://coinmarketcap.com/alexandria/article/bringing-bitcoin-to-defi-a-complete-beginners-deep-dive-into-renvm) کس طرح Bitcoin کو DeFi پر لا رہا ہے۔

CMC Alexandria پر Wrapped Bitcoin کے بارے میں بنیادی معلومات [یہاں](https://coinmarketcap.com/alexandria/article/what-is-wrapped-bitcoin) سے دیکھی جا سکتی ہیں۔

### کُل کتنے Wrapped Bitcoin (WBTC) کوائنز گردش میں ہیں؟

WBTC کے اجراء کا کوئی پہلے سے طے شدہ شیڈول نہیں ہے۔ اس کے بجائے، جب بھی صارفین مرچنٹسس اور سرپرستوں کے ایک سسٹم کے ذریعے Bitcoin کے لیے اپنے ٹوکن خریدتے یا بیچتے ہیں تو WBTC کو خودکار طور پر منٹ یا ضائع کر دیا جاتا ہے۔

چونکہ Wrapped Bitcoin ہمیشہ 1:1 کے تناسب سے Bitcoin کے ساتھ تقویت یافتہ ہے، اس لیے گردش میں موجود ٹوکنز کی تعداد براہ راست WBTC نیٹ ورک میں Bitcoin ریزروز کی مقدار پر منحصر ہے۔ اکتوبر 2020 تک، یہ تعداد محض 94,000 ٹوکنز سے زیادہ تھی، جس کی کل مالیت تقریباً $1 بلین تھی۔

### Wrapped Bitcoin نیٹ ورک کو کس طرح سے محفوظ بنایا جاتا ہے؟

WBTC ٹوکنز اصل بلاک چین کے ذریعے محفوظ کیے جاتے ہیں جس پر وہ چلتے ہیں — یعنی Ethereum۔ جس کے بدلے میں، ETH کو Ethash پروف-آف-ورک فنکشن کے ذریعے محفوظ کیا جاتا ہے، جس کا تعلق ہیش فنکشنز کی Keccak فیملی سے ہے۔

### آپ Wrapped Bitcoin (WBTC) کو کہاں سے خرید سکتے ہیں؟

آپ WBTC کو متعدد ایکسچینجز پر خرید سکتے ہیں، جن میں مرکزی اور غیر مرکزی دونوں شامل ہیں، جو کہ Wrapped Bitcoin کے نیٹ ورک پر مرچنٹس کی حیثیت سے کام کرتے ہیں۔ ان میں سے کچھ اہم درج ذیل ہیں:

* [Uniswap](https://coinmarketcap.com/ur/exchanges/uniswap-v2/)
* [Binance](https://coinmarketcap.com/ur/exchanges/binance/)
* [OKEx](https://coinmarketcap.com/ur/exchanges/okex/)
* [Huobi Global](https://coinmarketcap.com/ur/exchanges/huobi-global/)
* [Kyber نیٹ ورک](https://coinmarketcap.com/ur/exchanges/kyber-network/)

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Wrapped Bitcoin

Ledger

Coinbase

Safepal

HyperPay

Trust Wallet

MetaMask

SolFlare

Backpack

Phantom

Welcome to Wrapped Bitcoin's Community channel aggregated by CoinMarketCap.

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

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Aave

Pepe

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JasmyCoin

Bitget Token

MANTRA

Gala

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Peepo

MAGA

RAYN

DAV Coin

Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier following the blocksize wars.

BSV claims to fulfill the original vision of the Bitcoin protocol and design as described in Satoshi Nakamoto’s white paper, early Bitcoin client software and known Satoshi writings. BSV aims to offer scalability and stability in line with the original description of Bitcoin as a peer-to-peer electronic cash system, as well as deliver a distributed data network that can support enterprise-level advanced blockchain applications.

To this end, it has removed artificial block size limits and re-enabled Script commands and other technical capabilities which had been historically disabled or restricted by the protocol developers of the BTC blockchain. This purportedly allows the network to process tens of thousands of transactions per second while maintaining extremely low transaction fees for micropayments, in addition to offering advanced capabilities such as tokens, smart contracts, computation and other data use cases.

The BSV network claims to be unique in its capacity for unbounded on-chain scaling while also being more aligned with the original design of Bitcoin than any other blockchain.

Bitcoin SV

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and larger block size. As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties.

Bitcoin Cash was created as an alternative to the first and most valuable cryptocurrency — Bitcoin (BTC). In 2017, BCH developers modified the BTC code, releasing their software version and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash. Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the SegWit upgrade. Moreover, another hard fork, which divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.

The scaling debate involved two sides: small block supporters opposed increasing block size as it could lead to blockchain centralization and vulnerability by making it harder to host full nodes. Large block supporters, however, advocated for a faster solution, concerned that rising transaction fees could hinder growth.

Bitcoin Cash

Bitcoin Gold was founded in 2017 to become a user-friendly alternative to Bitcoin. The BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.

BTG enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power or vying for the "real Bitcoin" title. The company aims to present a coin with the implementation capabilities of Bitcoin, however, expanding on the opportunities for DeFi and DApp developers to use the coin.

Bitcoin Gold

Ethereum Classic (ETC) is the original Ethereum (ETH) blockchain that launched in July 2015. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC.

Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmap diverging further and further from each other with time.

Ethereum Classic first set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH.

Ethereum Classic

Monero was launched in 2014, and its goal is simple: to allow transactions to take place privately and with anonymity. Even though it’s commonly thought that BTC can conceal a person’s identity, it’s often easy to trace payments back to their original source because blockchains are transparent. On the other hand, XMR is designed to obscure senders and recipients alike through the use of advanced cryptography.

The team behind Monero say privacy and security are their biggest priorities, with ease of use and efficiency coming second. It aims to provide protection to all users — irrespective of how technologically competent they are.

Overall, XMR aims to allow payments to be made quickly and inexpensively without fear of censorship.

Monero

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.

Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.

Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.

Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

Zcash

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.

Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.

MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself.

The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.

Maker

Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.

Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.

Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.

yearn.finance

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world andcurrently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giantBinance, but there are a few key differences. The OKEx platform has its owncloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-inAPI for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions formargin trading.

The EOS Network is an open-source blockchain platform that prioritizes high performance, flexibility, security, and developer experience. As a third-generation blockchain platform powered by the EOS virtual machine, EOS has an extensible WebAssembly engine for deterministic execution of near fee-less transactions.

EOS is the market's most scalable, divisible, and programmable digital currency. EOS is a Delegated Proof of Stake (DPoS) network where stakeholders have the authority to select node operators. EOS is fully decentralized power doesn't reside in the hands of block miners, but rather all parties involved in the EOS Network.

The EOS Network is attractive because of its technology and community. It allows developers to build projects that other blockchains cannot support. The network is straightforward and has multiple tools and educational resources to help users acclimate to the blockchain.

Decred is Money Evolved.

By combining battle tested Proof-of-Work with an innovative take on Proof-of-Stake that places coin holders in charge of shaping the future, Decred is able to adapt to challenges and innovate at a rapid pace. You acquire influence in Decred by putting “skin in the game”.

Decred’s security, privacy, scalability, and decentralized treasury empower stakeholders and provides them with the tools needed to enhance their financial sovereignty.

Decred

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralized in nature. According to the project's white paper, Dash seeks to improve upon Bitcoin (BTC) by providing stronger privacy and faster transactions.

Dash, whose name comes from "digital cash," was launched in January 2014 as a fork of Litecoin (LTC). Since going live, Dash has grown to include features such as a two-tier network with incentivized nodes, including "masternodes," and decentralized project governance; InstantSend, which allows for instantly settled payments; ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend, which offers additional optional privacy for transactions.

Dash

Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.

To learn more about this project, check out our deep dive of Compound.

When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.

On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.

Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.

Compound

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.

An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. This added both profitability potential and the ability for users to shape its future — an attractive aspect of decentralized entities.

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

To learn more about this project, check out our deep dive of Huobi Token.

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance. Having its own token allows Huobi to build a flexible marketing strategy in order to attract new users and further grow its platform.

One key function of the token is to reduce commissions for trading operations on the exchange, which are usually paid from users' wallets. Yet the token has much more to offer. Using HT, users can purchase monthly VIP-status plans to receive discounts on transaction fees. Token holders have the right to vote on exchange decisions, can receive crypto rewards for seasonal buybacks, and also get early access to special events. HT holders can, at any point, trade the token for other cryptocurrencies.

Huobi Token

Tezos is a high-performing blockchain and open-source platform for assets and applications, with a strong focus on code security, on-chain governance, and decentralization. Tezos 2.0, the upcoming step in the evolution of Tezos, aims to improve scalability (via layer 2s), composability, and to implement support to mainstream programming languages (like Javascript, Typescript, Python, and many others).

Initially built with formal verification in mind, the Tezos protocol enables builders to avoid bugs when developing smart contracts, making it particularly suited to applications that require a high degree of security and certainty.

Tezos’ LPoS (Liquid Proof-of-Stake) consensus mechanism enables any stakeholder to take part, directly or by delegation, in the consensus process, and to be rewarded for securing the network. Rather uniquely, Tezos’ on-chain governance system also enables stakeholders to create and vote on protocol upgrade proposals. This pioneering system allows the protocol to self-amend and upgrade itself without leading to a split (or fork) in the blockchain, empowering the community without slowing down innovation.

First proposed in 2014 and launched in 2018, the Tezos Mainnet has a proven track record of running uninterrupted ever since, having earned a strong reputation for technical excellence and a supportive community.

Tezos

Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology.

To learn more about this project, check out our deep dive of Litecoin.

The cryptocurrency was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.

Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.

The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin—albeit lighter in weight.

Litecoin

Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.

Klaytn

Pax Gold (PAXG) is a gold-backed cryptocurrency, launched by the creators of Paxos Standard (PAX) in September 2019. As an ERC-20 token operating on the Ethereum blockchain, Pax Gold is tradeable on a large variety of exchanges and has become an accessible way for traders to start investing in gold.

The main goal behind Pax Gold is to make gold more tradable, as the physical commodity is not easily divisible or flexible in terms of transport. This is why Paxos Standard decided to create a cryptocurrency entirely backed by gold. According to the official whitepaper, Pax Gold was created to allow investors to buy indefinitely small amounts of gold through the cryptocurrency, thus virtually eliminating minimum buy limits for the commodity.