Circle is working on reversible transactions to help recover funds in the event of fraud and hacks.

PANews reported on September 25th that stablecoin issuer Circle is researching reversible transactions to help recover funds in the event of fraud and hacking, a move that appears to contradict the core principles of cryptocurrency transactions: irreversibility and decentralization. Circle President Heath Tarbert told the Financial Times that the company is developing mechanisms to reverse transactions in the event of fraud or hacking while still maintaining settlement finality. He admitted that there is an inherent contradiction between considering transaction reversibility and maintaining settlement finality. Tarbert also pointed out that although blockchain is often seen as the future of finance, it also has benefits from learning from the characteristics of traditional finance. The current financial system has advantages that blockchain does not yet possess, and some developers believe that, with the consent of all parties, a certain degree of transaction reversibility for fraudulent activities is necessary and feasible.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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