- Kirobo has developed a retrievable transfer button for Ether transactions.
- This undo function will enable Ethereum users to recover their funds in cases of error.
Kirobo, a blockchain startup based in Israel, has enabled undo function for Ether transactions, allowing Ethereum users to retrieve their funds transacted erroneously. Basically, the company specializes in creating solutions that protect and enable cryptocurrency users to retrieve transactions made out of error. The blockchain startup already enabled this function for Bitcoin transactions, according to reports.
Ether transaction becomes retrievable
The development today enables users to revert their Ether transactions similar to the “Bitcoin Undo button.” Using the undo function for the Ethereum crypto requires the sender to include a password on outgoing transactions. The receiver is then expected to key-in a matching password in order to claim the cryptocurrencies. Except the password is entered or matches, the sender can easily retrieve the cryptocurrencies back to his Ethereum addresses at any moment.
The CEO of Kirobo, Asaf Naim, explained in the report:
“The use of our logic layer finally eliminates the need to send a test transaction, sharply reducing the level of anxiety users feel when transferring funds to a third party.”
More protection for crypto users
The Ether transaction undo button is available for MetaMask users, and other digital wallets that support WalletConnect protocol, according to the blockchain startup. Kirobo further noted that it doesn’t hold or control the cryptocurrencies at any point. The retrievable transfer function will be extended for Trezor and Ledger wallet users soon, according to the report. Meanwhile, today’s announcement covers Ether transactions only.
Support for other Ethereum tokens (ERC-20) in the service will be included later. “Kirobo supports the principle of decentralization and gives users the same peace of mind that comes from sending funds between banks. Actually, it’s superior since—as we know—funds in crypto wallets cannot possibly be frozen,” the CEO added.
