Irreversible payments are preferred by most crypto enthusiasts but not everyone is accustomed to them. For instance, novice users find this type of transaction not necessarily an attractive feature.
Let’s take Binance, for instance. As you know, the crypto exchange suffered a security breach not too long ago, and this unfortunate event has affected multiple people on the platform and other ecosystems that are dealing with it. About 7,000 BTC have been stolen and one of the consequences of what happened, the irreversible transfers came back to the fore.
These are offering a viable alternative that could combat such event, and it’s also an excellent choice for people who come from other systems such as PayPal. EthereumCard opens the door for innovation in which transactions can be reverted in some cases.
EthereumCard can accelerate the adoption of p2p payments – main features
EthereumCard is a new project that provides fast as straightforward experiences which are something vital in this growing marked characterized by high volatility.
The features around the ETHCD token are based on more utilities, and this means that this is a useful token. Here are the main features of the EthereumCard:
- It’s easy to use, and there are no borders involved.
- It provides security deposit services for the whole ecosystem health.
- EthereumCard is also compatible with crypto space security standards, and it provides wallet users self-management of the private keys.
- Educating users on security self-management is an essential ingredient for crypto mass adoption, and EthereumCard provides this.
- Integrated escrow services manage the processes of operations between unknown parties in a secure and reliable way.
- The reverse transaction function allows two wallets to send a reversal confirmation on the blockchain for authorization.
Reversing transactions on the platform
This is a type of transaction that generates a replica of the original transaction. The balance that’s originally received will become the sent balance. And the balance originally sent becomes the balance received. This will not eliminate the first transaction because this will remain recorded on the blockchain.
Inverse transactions will be posted automatically to the same account and for the same amount, which leads to the possibility to reverse the event with a reverse transaction.
This feature will turn out vital for preventing malicious actions. EthereumCard enables reverse transaction feature for multidimensional contract on the mainnet. This innovative scenario will also boost crypto adoption.
Nora Reynolds is a major in biology and a minor in Biological Basis of Behavior, writing about science in general. She also likes to try new gadgets and sports about the AI new era.