in BlockChain by (6.5k points)

What’s Double Spending? Is it possible to double pay in a Blockchain system?

1 Answer

0 votes
by (32.2k points)
It’s a condition when one digital token is spent multiple times because of the reason the token typically consists of a digital file that may simply be cloned. It merely results in inflation and organizations can bear an enormous loss. One in all the first aims of Blockchain technology is to eliminate this approach up to the potential extent.

Double spending is not possible in Blockchain because of the reason it confirms dealings by multiple parties before the particular transaction is written to the ledger.

Related questions

0 votes
+1 vote
asked Jan 18, 2020 in BlockChain by SakshiSharma (32.2k points)
0 votes
asked Feb 25, 2020 in BlockChain by miceperry (775 points)
0 votes
asked Nov 18, 2021 in BlockChain by Robin (14.6k points)