The ERC-20 compliant form of ether is referred to as Wrapped Ether (WETH) however other ERC standards can also be used to wrap ether. Ether can be used to create WETH by submitting it to a smart contract, where it is put on hold and exchanged for a 1:1 ratio of the WETH ERC-20 token. After that, this WETC can be resent into the same smart contract and "unwrapped" or redeemed at a 1:1 ratio for the original ether. Because Ether was developed before the ERC-20 standard and other standards were implemented and because it is the native currency on the Ethereum blockchain, it is not ERC-20 compatible and cannot be exchanged directly for other ERC-20 tokens in a decentralized manner without the involvement of a third party or the addition of complicated technical implementations. Developers chose to "wrap" ether to upgrade it to the ERC-20 standard in order to conveniently handle WETH and other ERC-20 tokens within the same contract rather than implementing two interfaces (one for ether and another for ERC-20 tokens) within the same smart contract, which would have added unnecessary complexity. By wrapping ether, it is possible to swap ether directly for ERC-20 tokens without the use of a third party, eliminating additional risks such as unanticipated mistakes during transactions brought on by complicated implementations. To enable direct and decentralized peer-to-peer trading between ether in "wrapped form" and ERC-20 tokens under the same technical standard, many Ethereum-based decentralized apps (dApps), such as decentralized exchange platforms, use WETH in place of ether. Recently, efforts have been made to create a universal WETH standard that any dApps built on Ethereum may adopt.