Circle, the stablecoin issuer, is researching reversible transactions to address fraud and hacking incidents, according to a report by PANews. Circle President Heath Tarbert stated that the company aims to develop mechanisms that allow transaction reversals while maintaining settlement finality. This initiative challenges the traditional cryptocurrency principles of irreversibility and decentralization. Tarbert acknowledged the contradiction but emphasized the potential benefits of integrating features from traditional finance into blockchain systems. He noted that some developers support transaction reversibility for fraud cases, provided all parties consent.
Circle Explores Reversible Transactions to Combat Crypto Fraud
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