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What is Approval Token?
Token Approval is a user-granted permission to DApps so that they can access tokens in the user’s crypto wallet.
DApps use smart contracts to perform transactions on the blockchain. Users can spend their tokens through these smart contracts provided that users have to authorize the smart contract to make any token transactions.
USASome DApps often require access to an unlimited number of tokens in the user’s wallet.
You should note that only granting access to the amount of tokens you need to use to reduce the risk of future asset loss.
What is Revoke?
In contrast to Token Approval, Revoke is the act of revoking access to tokens in a user’s crypto wallet from DApps.
The main reason that users should consider Revoke is that DApps are very susceptible to security vulnerabilities leading to the risk of user property loss, which is typically the case of Opensea when the platform is exploited and damaged. up to millions of dollars. Information about the attack can be found at this.
Popular Revoke Services
Here are the popular Revoke tools you can use:
- Revoke (Ethereum mainnet)
- Unrekt (Multi-Blockchain Support)
- approved.zone (Ethereum mainnet)
- Cointool (Multi-Blockchain Support)
- beefy.finance (BNB chain).
- Etherscan (Ethereum mainnet)
Guide Revoke Token on Ethereum and Binance Smart Chain
In the framework of this article, CHK will guide you to use 2 tools Etherscan and Unrekt.
Revoke on Ethereum using the Etherscan engine
Step 1: Access: https://etherscan.io/tokenapprovalchecker
Step 2: Choose “Connect to Web3” to connect to your wallet.
Step 3: Choose one of the 3 token standards you want to Revoke: ERC-20, ERC-721, or ERC-1155.
Step 4: Choose ‘Revoke’.
Step 5: Verify the transaction on the MetaMask wallet to complete the transaction.
Revoke on BNB Chain using Unrekt . engine
Step 1: Access https://app.unrekt.net/
Step 2: Choose “Connect Wallet” to connect the wallet.
Step 3: Find the token you want to Revoke.
Step 4: Choose “Revoke“.
Step 5: Confirm on Metamask wallet to complete the transaction.
Revoke is a basic operation that users need to know to protect their accounts. Through this article, CHK hopes that you have grasped the basic knowledge about Revoke.
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