How Blockchain Ends the Double Spending Problem?

Blockchain Ends the Double Spending Problem

What is a double-spend issue in Blockchain? As the name indicates, it means that the same cryptocurrency is spent twice. The thief attempting to steal the cryptocurrency will send the duplicate transaction to the blockchain and try to make it look legitimate. blockchain ends the double-spending problem by broadcasting each transaction to the network for verification using the consensus mechanism.

What do you think?

26.8k Points

Comments

0 0 vote
Article Rating
Avatar
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Loading…

0
Avatar

Posted by kevin booth

Blockchain Ends the Double Spending Problem
What is a double-spend issue in Blockchain? As the name indicates, it means that the same cryptocurrency is spent twice. The thief attempting to steal the cryptocurrency will send the duplicate transaction to the blockchain and try to make it look legitimate. blockchain ends the double-spending problem by broadcasting each transaction to the network for verification using the consensus mechanism.

The Rise of Remote Work May Reshape College Towns. Here’s How These Campuses Are Wooing Transplants.