Dec 26, 2020 in BlockChain
Q: How double spending can be stopped in a blockchain?

1 Answer

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Dec 26, 2020

Double spending is prevented by blockchain with the help of the consensus algorithm. The consensus algorithm ensures that the transaction is genuine and records it in the block. It is thus verified by multiple nodes making double spending possible. However, 51% network attack can make any blockchain vulnerable to double spending as more than 50% of the network is controlled by one entity.

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