Bank transfers can be reversed, so why can’t on-chain transfers?
This irreversibility protects the recipient: once a payment has received enough confirmations, they don’t have to worry about the sender changing their mind and taking it back.
Once an on-chain transfer is recorded in a block and has multiple confirmations, no institution can unilaterally reverse it. Wallet developers and nodes are powerless to do so as well.
Understanding this won’t make me an expert overnight, but it can help me avoid one rookie mistake.
The market is full of surprises, so decide in advance what you’ll do if your judgment turns out to be wrong.
$BTC 81479.72（+2.13%）
This irreversibility protects the recipient: once a payment has received enough confirmations, they don’t have to worry about the sender changing their mind and taking it back.
Once an on-chain transfer is recorded in a block and has multiple confirmations, no institution can unilaterally reverse it. Wallet developers and nodes are powerless to do so as well.
Understanding this won’t make me an expert overnight, but it can help me avoid one rookie mistake.
The market is full of surprises, so decide in advance what you’ll do if your judgment turns out to be wrong.
$BTC 81479.72（+2.13%）