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Should blockchain makes transactions reversible?

  • Thread starter Thread starter ahmedo24
  • Start date Start date
The current encryption in the blockchain technology is even the best for me because I do not like the idea of making it reversible as we might likely falls into the hands of scammers.
 
I do not think blockchain transaction should be reversible especially as a lot of people are using it in business. Instead they should be a window period in which one can be able to recall back transactions.
 
The transaction done on the blockchain can't be reversed . That Is why one need to check the cryptocurrency address that you want to make transfer to two times before initiating the transaction. If the features could be added, it's an advantage.
 
No as blockchain network contains so many people and machine and it always hard to track someone means once you lost something it gone and we might need to wait for few more years before it could happen in future.
 
I wouldn't want cryptocurrency to make transaction reversible because it will definitely increase the rate of scamming activities.. this will be an unwelcome development because cryptocurrency generally is encrypted and there is no way to track any crypto transaction.
 
No, we're incapable to cancel or switch your exchange. Even numerous progressed cryptocurrency clients can review an occurrence when they fizzled to double-check their exchange points of interest and they incidentally sent reserves to the off-base beneficiary, or sent the off-base sum. As disastrous because it is, cryptocurrency exchanges on the Bitcoin, Ethereum, and Bitcoin Cash systems are planned to be irreversible and we have no control over them.
 
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