Kirobo, an Israeli startup, announced the launch of the "cancel transaction" button for Ethereum (ETH) blockchain transactions.
This function was previously only applicable to bitcoin, and is now open to eth transactions from November 12, followed by erc-20 token transfer.Recommended reading
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According to companies backed by the Israeli government, this feature will eventually include the ability to prevent remittances to smart contracts that do not accept deposits. Such transactions have previously resulted in irreparable token losses.
Destroy unexpected token burning
According to kirobo, the function is now available to eth holders through metamask and walletconnect, and its use process is very similar to its popular bitcoin trading solution.
When sending eth to the address, the user must enter a unique cryptocurrency. Funds will not be released from the sender's wallet unless the recipient's address is entered in the same cryptocurrency.
If the wrong cryptocurrency is entered or no cryptocurrency is entered, the sender can retrieve their funds at the touch of a button. In this way, the solution eliminates the common problem of permanently locking funds in the wrong smart contract.
It also prevents users from inadvertently destroying their eth tokens by accidentally sending them to the notorious 0x000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000.
Kirobo claims that the solution can resist man in the middle attacks because hackers will not be able to access eth funds without the corresponding cryptocurrency. It also said that it would not retain user tokens at any time to increase trust.
Ethereum (ETH) expands to benefit
Referring to the potential of the solution to help Ethereum expand when it becomes the de fi center of cryptocurrency, ASAF Naim, chief executive of kirobo, said:
"Using our logic layer ultimately eliminates the need to send test transactions, which greatly reduces the anxiety of users when transferring funds to third parties. Kirobo supports the principle of decentralization and gives users the same peace of mind when transferring funds between banks. In fact, it is superior because we know that funds in digital currency packages cannot be frozen."
The explosive growth of de fi protocol has led to more than 1 million daily transactions of Ethereum, more than three times that of bitcoin.
Bitcoin trading volume: ycharts eth trading volume: ycharts
According to kirobo, as the company seeks to create layers on the popular blockchain to protect transactions from human error and make them as secure as traditional finance can provide, the solution will greatly help expand to
