Cryptocurrency and Blockchain Dictionary
A complete list of crypto definitions
Cryptocurrency and blockchain glossary
Commonly used terms in the world of blockchain and cryptocurrency
Terms commonly used in the world of blockchain and cryptocurrency
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Double Spending
With digital currency, there is a risk that the holder could make a copy of the digital token and send it to a merchant or another party while retaining the original. Not to mention that the cryptocurrency world is in constant interaction with the internet.
Therefore, things such as data breaches and data-stealing are common. Creating a replica for a specific digital currency is quite easy with the right knowledge. Resulting in an annoying situation that is known as Double spending. In simple words, double-spending is a situation where a particular amount of cryptocurrency is being spent more than one time.
Unlike the regular paper money we use in our routine life, digital coins rely on files that are easy to replicate. So if there is a person with access to the file's structure and information, it is possible to spend that amount more than one time. While completing the transaction successfully.
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