Something that in Crypto space have is people losing assets due to human error, a different letter or number in a Bitcoin address and your money is gone! A recent research for a company in survey noted that 55% have experienced some stress when trying to make a crypto transaction with 18% responding that due to error lost some funds sending money to a unknown wallet address.
"Imagine that happening to you!"
A two year blockchain startup based in Israel may solve that problem, and with their solution it's possible to a user "retrieve a Bitcoin payment". They claim that invented a button to cancel a Bitcoin payment if sent to a wrong wallet address.
The firm dubbed Kirobo
, with this " undo" button may give the sender a unique way to have their Bitcoin back to wallet, and this error could happen to anyone pro or newbie in Crypto transactions, we are humans and humans make mistakes and accordingly to the firm it will cost zero fees for transactions up to $1000 it's now integrated in Ledger nano Crypto wallet for Bitcoin!
So how this "miracle" button works?!
Actually is pretty easy solution brought by kirobo
:
The retrievable button invented by Kiyobo gives the sender a unique code and the receiver have to introduce to match password with the sender and confirm the transaction
The interesting here is that, the sender can cancel the transaction anytime, the code only have the function to confirm if the transaction end or not, the company never store any private keys of the customer and have no participation on transactions only the sender and receiver have to can match the codes.
The Israel authority support the project, and will be much helpful to combat human error when making Crypto transactions, the lack to be noted is the beginning of this invention on hardware wallets being expensive ones and not afforded by anyone may not get widely spreaded and mistakes on crypto transactions could still be happen. But now popular wallets in near future may have the button implanted to cancel the crypto transaction.
You can also try free wallet you can cancel transactions at any time