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.