Why can’t on-chain transfers be reversed?
When withdrawing from an exchange, once the withdrawal request has been broadcast to the blockchain, the platform can’t reverse it either. It can only be canceled before broadcast. While a transaction is still waiting to be included in a block in the mempool, some wallets offer an “acceleration” feature: they issue a replacement transaction with a higher fee, but it may not succeed.
Irreversibility is one result of blockchain design: no central authority can alter the ledger, and no one can reverse a transfer for you.
Back to the market: $BTC is at 83626.29, 24h -0.3%.
#BTC
This is not investment advice. You are responsible for any gains or losses.
When withdrawing from an exchange, once the withdrawal request has been broadcast to the blockchain, the platform can’t reverse it either. It can only be canceled before broadcast. While a transaction is still waiting to be included in a block in the mempool, some wallets offer an “acceleration” feature: they issue a replacement transaction with a higher fee, but it may not succeed.
Irreversibility is one result of blockchain design: no central authority can alter the ledger, and no one can reverse a transfer for you.
Back to the market: $BTC is at 83626.29, 24h -0.3%.
#BTC
This is not investment advice. You are responsible for any gains or losses.