A group of Stanford researchers have just presented ERC-20R and ERC-721R, the concept of new standards for Ethereum tokens.
According to the experts, they have been designed to introduce the option of transaction reversibility in case of asset theft.
According to the proposal, the management of the smart contract will be carried out by a "decentralized structure" through voting. The victim would be able to present evidence and request the freezing of stolen assets, after which a quorum will make a decision.
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Kaili Wang, one of the investigators, has said:
"If reversal was agreed upon, the frozen funds are sent back to the victim. Justice is restored."
She has pointed out the concept is only a proposal. According to her, this is not an initiative to turn irreversible transactions into reversible ones.