Stanford Researchers Propose Reversible Token Standard

In the world of complex computation, Stanford University Researchers have devised a grand plan to combat the crypto-theft plague.They put together an opt-in-only prototype reversible token standard.

Due to rampant theft and outright pranks, smart academic types have put together their own potential solutions, envisioning two new token types, ERC-20R and ERC-721R, alongside the existing Ethereum standard. increase. Only on an opt-in basis, it offers a limited time frame to freeze and possibly return stolen assets.

Billions of cryptos stolen. If we can’t stop the theft, can we reduce the harmful effects?

Over the last few months, several other @Stanford A researcher and I pulled out an ERC-20R/721R and prototyped it to support reversible transactions. #Ethereum.

View Post & :https://t.co/38Hs0F9goU

Kaili Es (@kaili_jenner) September 24, 2022

Through suggestions, NFT owners can report unscrupulous trading To the decentralized cabal of judges. You can then vote on whether to take further action regarding the misplaced NFT (or crypto) while considering evidence from both parties involved.

The initial idea reached the critical eye of NFT Twitter through a tweet by researcher Kairi Wang. This was essentially intended to spark discussion about potential solutions to the ongoing scourge of blockchain-based theft. The proposal received mixed reactions from members of the community and sparked a healthy dialogue along the way.

Read report >> here

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