- Ethereum transactions can now be undone thanks to an Israeli blockchain startup.
- Kirobo launches the feature to undo ETH purchases after the BTC type worked so well.
- Kirobo’s product was released yesterday and is accessible to clients who work with WalletConnect and MetaMask.
Ethereum transactions can now be undone
Ethereum transactions can be undone thanks to an Israeli blockchain startup. Kirobo launches the feature to undo ETH purchases after the BTC type worked so well.
The feature was released yesterday. Kirobo’s product is accessible, thanks to clients who work with WalletConnect and MetaMask.
The strategy the organization is using for ETH is similar to what they did for Bitcoin. To send ETH to an address, Kirobo clients now need to enter a unique password.
Funds are allowed to go from customers’ wallets if the recipient receiving the Ethereum enters the same password. If recipients of Ethereum do not have the relevant code, the fund will not be released to them.
The company’s changes mean that even if the recipient of ETH does not know the key, the owner of the coin can easily acquire them back. The goal is to ensure the Israeli product protects users from sending funds to smart contracts that deflect deposits.
In the past, when customers’ deposits were rejected, they were not able to retrieve their funds back. Soon, Kirobo will be able to encompass all ERC-20 transactions and ensure no tokens are burnt.
The innovation the Israeli company has put through prevents customers from destroying their crypto by sending them to the 0x0000000000000000000000000000000000000000 address. The 0 address had over $500 million worth of Ethereum.
Kirobo wants to create layers for the most relevant blockchain that ensures its customers are safe from any errors. The company states the advancements can protect users from outside attacks from hackers who do not have the necessary password.