What does cancel button mean?
What does the Cancel button do exactly? It dismisses the user's current screen and brings them back to their previous screen. This dismissive button is a safeguard to prevent unwanted changes to the system.
Should cancel be left or right?
In most languages, people are accustomed to read from left side to right side, so it accords with our speech habits to put ok-key on the left side of cancel-key. 2. “Ok/cancel” type make it easier to see and select ok-key.
Should cancel be a button or a link?
To summarize
The cancel option is similar to aborting an action, and therefore similar to navigating back to the previous state of the UI. Navigation is represented in web UI as hyperlinks, and thus the cancel option should be a hyperlink.