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Wrong addresses and major adoption

All Cryptocurrencies

by COINS NEWS 110 Views

Bit of a shower thought and question.

Luckily i haven't ever sent crypto to the wrong address (touch wood), but i'm sure like you all i see a lot of post across various subs asking for help as someone has sent crypto to the wrong address for example BTC - to - BCH, ETH - to - BTC or mistyping an address etc etc.

If we want mainstream adoption losing "money" because of sending it to the wrong chain could/will become an issue.

Obviously i'm still learning so apologies if i come across as ignorant and i'm missing something, but could there be a way of solving this issue so people aren't burning crypto?

I know coinbase will let you know if it's a valid address for example but could there be something in place where wallets, exchanges and the like can stop transactions going to the wrong address?

Or could the blockchain reject an incoming transaction if it's not from it's own blockchain?

I'm interested in this aspect and thought it could spark discussion as it's one of the biggest problems i see people post about across various subs.

Look forward to replies, thoughts, ideas and answers

submitted by /u/Bpool91
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