Someone asked: Why can't on-chain transfers be reversed?
My answer: When you withdraw from an exchange, if your withdrawal request has already been broadcast to the blockchain, the exchange can't reverse it either. You can only cancel it while it's still under review. Irreversibility is one of the trade-offs of decentralized design: no central authority can alter the ledger, and no one can help you roll back a transfer.
$BTC 73764.01 (-1.49%)
Have you ever made a similar mistake? Share your story to help others avoid the same pitfalls.
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My answer: When you withdraw from an exchange, if your withdrawal request has already been broadcast to the blockchain, the exchange can't reverse it either. You can only cancel it while it's still under review. Irreversibility is one of the trade-offs of decentralized design: no central authority can alter the ledger, and no one can help you roll back a transfer.
$BTC 73764.01 (-1.49%)
Have you ever made a similar mistake? Share your story to help others avoid the same pitfalls.
#BTC