Why can’t on-chain transfers be reversed?
Wallet software only checks whether an address is formatted correctly. It can’t tell who the address belongs to, so a transfer to the wrong person’s address can still go through.
Irreversibility is one of the costs of decentralization: there’s no central authority that can alter the ledger, and no one can reverse a transfer for you.
By the way: $BTC is at 77500 (24h -0.26%).
This is not financial advice. Make your own decisions about buying and selling.
Wallet software only checks whether an address is formatted correctly. It can’t tell who the address belongs to, so a transfer to the wrong person’s address can still go through.
Irreversibility is one of the costs of decentralization: there’s no central authority that can alter the ledger, and no one can reverse a transfer for you.
By the way: $BTC is at 77500 (24h -0.26%).
This is not financial advice. Make your own decisions about buying and selling.
