All transactions and data are hashed into a unique set of numbers and letters before they enter the blockchain, similar to a random password generator. Two finished hashes are combined to go through an algorithm to create a third unique hash. The hashing process will continue until a single “root” hash is created, including data from several transactions at once.
But in blockchains, hashes are unique due to the fact that they all work in only one direction. Because of this, the same data will generate the same cipher, but it will not be possible to undo or reverse a transaction.
What are the statuses
Funds transfer is a step-by-step process that is impossible without validators – special participants in the network, without them it would not be possible to make payments within BSC, ETH, etc. Transactions in the blockchain have 3 statuses:
Pending Validation – the first status awarded to a transaction that has just been sent to the blockchain.
Rejected – occurs when validators were unable to validate it because the fee paid was insufficient.
Confirmed – validators approved the transaction, there was enough money transferred to pay the fee, and the cryptocurrency was sent to the specified address.
Keep in mind that validators do not know the type of wallet accepting the token. Because of this, if an incorrect type of storage is specified that does not match the sent coin, the payment is simply lost in the network without the possibility of recovery.