Author: Mike Hearn 2014-04-25 10:19:12
Published on: 2014-04-25T10:19:12+00:00
In the world of cryptocurrency, double spending occurs when a person spends the same digital currency twice. However, Bitcoin has been designed to prevent this from happening. While some may think that successfully double spending can lead to getting money back, it is not the case. In fact, it would result in being chased down by an angry shopkeeper, calling the police or being blacklisted from the store. Hence, it is not a successful double spend. The concern arises when one could actually double spend and the only thing preventing them from doing so is Bitcoin's technology.
Updated on: 2023-06-08T21:12:45.516862+00:00