What Is Double Spending?

DWQA QuestionsCategory: BlockchainWhat Is Double Spending?
Editor Staff asked 1 month ago

What Is Double Spending?

1 Answers
Editor Staff answered 1 month ago

Double spending is the process of spending the same digital currency twice without network security, noticing it. Double spending is one of the biggest problems in the market, and the financial institution takes extra caution to ensure that they prevent double-spending at any cost. It is mainly done by duping the network to think that the original amount is never spent, making it available to be used for other transactions.