Why can’t on-chain transfers be reversed? Don’t panic—the class study representative has the answer:
Your wallet only checks whether the address is formatted correctly. It can’t tell who the address belongs to, so a transfer will still go through even if you enter the wrong person’s address.
The inability to reverse a transaction is one of the costs of decentralization: there’s no central authority that can alter the ledger, and no one can help you undo a transaction.
I didn’t understand this before, and the money I wasted could’ve paid for several hot pot meals.
$BTC 80426（+4.38%）
Your wallet only checks whether the address is formatted correctly. It can’t tell who the address belongs to, so a transfer will still go through even if you enter the wrong person’s address.
The inability to reverse a transaction is one of the costs of decentralization: there’s no central authority that can alter the ledger, and no one can help you undo a transaction.
I didn’t understand this before, and the money I wasted could’ve paid for several hot pot meals.
$BTC 80426（+4.38%）