Question

What is a double-spending problem?

Answer 1

The double-spending problem is a potential flaw in digital cash systems where the same digital token or currency can be spent more than once. This issue arises when a user tries to send the same digital currency to multiple recipients simultaneously. Double-spending is a concern for cryptocurrencies and digital payment systems, and to prevent it, these systems rely on various mechanisms like blockchain technology to ensure the integrity of transactions and prevent fraud.

Answer 2

The double-spending problem is a potential flaw in digital cash or cryptocurrency systems where the same single digital token can be spent more than once. This is possible because a digital token can be easily reproduced or cloned. This issue is usually prevented through the use of a decentralized network and consensus mechanisms such as blockchain technology.