Regrettably, the process of canceling a Bitcoin transaction is more intricate than simply pressing a 'cancel' button.
It's crucial to understand that it's impossible to 'cancel' a transaction once it has already been included in the blockchain, receiving at least one confirmation. Therefore, only unconfirmed (pending) transactions hold the potential to be canceled.
Before attempting to cancel a Bitcoin transaction, it's essential to check whether it has received any confirmations. Panaroma Decentralized Wallet displays unconfirmed transactions with a 'pending' status. Once the transaction status changes to 'sending,' canceling the transaction becomes impossible.
If the transaction has no confirmations yet, there's still a chance (though not guaranteed) for the sender to cancel it. However, this functionality needs to be integrated into the wallet app itself.
Currently, Panaroma Decentralized Wallet does not provide this feature but may consider adding it in the future.