WETH

To find out even more about this project, check out our deep dive of WETH.

FIRST, THERE'S ETHER TOKEN

Ether or ETH is the native currency built on the Ethereum blockchain.

SECOND, THERE ARE ALT TOKENS

When a dApp (decentralized app) is built off of the Ethereum Blockchain it usually implements its own form of Token. Think Augur’s REP Token, or Bancor's BNT Token.

FINALLY THE ERC-20 STANDARD

ERC-20 is a standard developed after the release of ETH that defines how tokens are transferred and how to keep a consistent record of those transfers among tokens in the Ethereum Network.

HOPEFULLY, THERE'S NO FUTURE FOR WETH.

Steps are being taken to update the ETH codebase to make it compliant with its own ERC-20 standards. Weird, we know. Additionally, ERC-20 may be replaced by other standards as problems and solutions arise. There's already a ERC223 in the works.