ERC-20R and ERC-721R: Reversible Transactions on Ethereum

Understand

Blockchains are meant to be persistent: posted transactions are immutable and cannot be changed.

• When a theft takes place, there are limited options for reversing the disputed transaction, and this has led to significant losses in the blockchain ecosystem.
• In this paper we propose reversible versions of ERC-20 and ERC-721, the most widely used token standards.
• With these new standards, a transaction is eligible for reversal for a short period of time after it has been posted on chain.