When I send a large transaction in crypto currency, I always do a “test transaction” of a much smaller amount to make sure the money goes to the correct wallet. Other people I know do the same. This causes us to double our transaction fees in many cases.
I am requesting a feature that allows a sending user to confirm the receiving users wallet address, and provide some form of positive confirmation to both parties prior to the transaction. This can be implemented many ways that are still secure. For example, you can add a “query receiving wallet” address feature that sends a message from the sender that the human recipient can see and verify you have the correct address. I understand a bot could flood a network with queries, but if you required the sender to enter a password or perform some human task which prevents bots.
Ultimately the purpose of this feature is to reduce transaction fees and improve confidence when making transactions.
Thanks for your consideration.
This has already been discussed here Transactions Made On Invalid Addresses
Feel free to add your thoughts
EDIT: If you look closely at the roadmap, you see that they are working on a Human-Friendly addresses upgrade in the Shelley Era, so in a few months it should be ready
Duncan Coutts is the team-leader
Thank you very much for pointing me in the right direction.
I have made a lot of test transactions in my day. It was a long time before I felt comfortable sending large amounts. However, sometimes you have to send a test amount, and there just isn’t any other way.
In the future, there should be ways to verify an address belongs to someone given an address and another piece of information provided by the recipient. But, you might still want the very first tx to be a test tx in the case that an attacker has given you two pieces of false information. Then, after the first tx, you should be able to get any address for that person and verify it without a text tx.
I watched Dr. Duncan Coutts youtube video Cardano whiteboard on development. Wow what a genius. He does a great job explaining the details.