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Blockchains are meant to be persistent: posted transactions are immutable andcannot be changed. When a theft takes place, there are limited options forreversing the disputed transaction, and this has led to significant losses inthe blockchain ecosystem.  In this paper we propose reversible versions of ERC-20 and ERC-721, the mostwidely used token standards. With these new standards, a transaction iseligible for reversal for a short period of time after it has been posted onchain. After the dispute period has elapsed, the transaction can no longer bereversed. Within the short dispute period, a sender can request to reverse atransaction by convincing a decentralized set of judges to first freeze thedisputed assets, and then later convincing them to reverse the transaction.  Supporting reversibility in the context of ERC-20 and ERC-721 raises manyinteresting technical challenges. This paper explores these challenges andproposes a design for our ERC-20R and ERC-721R standards, the reversibleversions of ERC-20 and ERC-721. We also provide a prototype implementation. Ourgoal is to initiate a deeper conversation about reversibility in the hope ofreducing some of the losses in the blockchain ecosystem.

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