WHY DOES ALL OF THIS MATTER?
With widespread adoption comes competition, breeding innovation. The chains compete with each other, so they are usually not compatible or inter-operable with other chains.
The new chains don’t want users to frequent other chains, generating their competitors revenue, so the newly developed chains close their doors and force users to transact only on and with their chain/assets.
One of the tricky parts of transferring cryptocurrencies is choosing the correct target blockchain, since there are so many as of late (and even more being developed every year).
Inputting the correct public address isn’t the only thing to be concerned about while sending tokens over a crypto network.
The fact that there are HUNDREDS of different blockchains with unique token standards gives users one more thing to worry about: Sending tokens to the wrong blockchain network.
If you send tokens/coins to an incorrect chain, you can lose those funds forever to the “crypto-abyss”.
PreSend prevents this entire travesty from happening to cryptocurrency users.
Last updated