Double Spending

Definition ∞ Double spending is the risk that a digital currency can be spent more than once. This is a critical problem that blockchain technology aims to solve through decentralized consensus mechanisms. Without proper safeguards, a user could potentially duplicate their digital funds, undermining the integrity of the currency.
Context ∞ The concept of double spending is a foundational challenge in digital cash systems, and its prevention is a primary function of blockchain’s distributed ledger. News concerning double spending typically relates to security vulnerabilities or successful attacks on less robust blockchain implementations. Monitoring the security protocols and consensus algorithms of different networks is crucial for understanding their resilience against such exploits.