Why can’t on-chain transfers be reversed? Many people can’t explain it clearly!
Wallet software only checks whether the address format is valid. It can’t tell who owns the address, so a transfer to the wrong person’s address can still go through.
The inability to reverse transactions is one consequence of decentralization: no central authority can alter the ledger, and no one can roll back a transaction for you.
If you’re unfamiliar with a product, avoid investing a large amount. Try it out with a small amount first.
$BTC 80742.01 (+0.64%)
Wallet software only checks whether the address format is valid. It can’t tell who owns the address, so a transfer to the wrong person’s address can still go through.
The inability to reverse transactions is one consequence of decentralization: no central authority can alter the ledger, and no one can roll back a transaction for you.
If you’re unfamiliar with a product, avoid investing a large amount. Try it out with a small amount first.
$BTC 80742.01 (+0.64%)
