What is a Blockchain Rollback?

A blockchain rollback, also known as a blockchain reorg (short for reorganization), reverses a series of confirmed transactions. This is typically done to undo the effects of a hack or other malicious activity that resulted in the theft of funds or other assets. In a rollback, the validating nodes on a blockchain network come to a consensus on the set of valid transactions to be included in the next block, effectively disregarding previous blocks and returning the blockchain to a…