1 min to read.
Understanding Double Spending Problem: A Deep Dive
Everything You Need to Know About Double Spending Problem
What is Double Spending Problem
The double-spending problem describes the possibility of copying or output a digital good as often as you like.
The possibility of creating any number of copies of a digital good is useful in many areas, but this fact is critical in digital money.
Usually a central authority (e.g. a bank) manages all transactions in a register and checks that digital coins are not output twice and thus prevents the double-spending problem.
The blockchain solves the double-spending problem by combining P2P technology and public key cryptography.
