Zucoins transactions include built-in two-factor authentication through what Zucoins calls a 2-way transaction. This is separate from typical account-level 2FA and instead applies to every transfer of Zucoins.
Understanding how 2-way transactions work explains why both the sender and receiver must take action to complete a transfer.
What Are 2-Way Transactions?
A 2-way transaction is where both the sender and receiver need to confirm the transaction before the transaction can be completed. 2-way transactions form part of the Zucoins built-in 2FA (two-factor authentication).
Why It Matters
To complete a transaction with Zucoins, the transaction must be confirmed by both the sender and the receiver. This process eliminates spamming, as seen with current blockchain 1-way transactions. With a Zucoins 2-way transaction, the transaction will expire if it is not completed within a 90-second time block.
1-way transactions can also cause loss of coins if the receiving wallet address is entered incorrectly. With 2-way transactions, coins cannot be lost, as the receiver needs to confirm the transaction by entering a transfer code into their wallet. If a transaction is sent to the wrong person, it simply expires after 90 seconds rather than resulting in lost funds.