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Tiny mistake and all your funds are gone. Is that crypto's flaw or feature?

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by COINS NEWS 106 Views

You make a transaction. There's a lot of weird looking characters. Just one little mistake and your funds are gone forever. And there's no chance that you've send it to currently used address and can (even theoretically) ask the other user for the funds back. We know how crypto runs in general. Yet every time we make a transaction, we're trembling. Should it stay like this? Is this how we want crypto to function? And can we fix it while keeping crypto safe?

I think that immutability of crypto or rather the ability to send it to non existent address is it's flaw and should be addressed (lol).

I trust that those who are more brilliant than me will find a good balance between safety and usability, but here is some idea I've got.

Wallet activation

Everytime you make a new address it should be activated by you connecting to network. That's how you inform others that it belongs to somebody. Unless you have activated the address there is no option to send funds there / transaction will be reversed.

No wrong addresses

Right now some addresses are non functional, you can send funds there, but you can't send it from there. If you want an option to simply remove the funds, there should be a separate feature for this without it being able to be done so easily.

What is your take on that?

submitted by /u/jsveyfjc
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