Define 'Double-Spending' and Explain How the Blockchain Structure Prevents It ⎊ Path

Define ‘Double-Spending’ and Explain How the Blockchain Structure Prevents It.

Double-spending is the malicious act of successfully using the same digital currency unit more than once. The Bitcoin blockchain prevents this by recording every transaction in a public, immutable ledger.

Once a transaction is included in a block and that block is followed by subsequent blocks (confirmations), the transaction is considered final. The Proof-of-Work mechanism and the chain of blocks make it computationally infeasible to reverse a confirmed transaction and spend the coins again.

What Is the Difference between an On-Chain and an Off-Chain Cryptographic Proof?

What Is the ‘Longest Chain Rule’ in Bitcoin?

How Many Confirmations Are Generally Considered Secure for a Bitcoin Transaction?

What Is a “Double-Spend” in the Context of a 51% Attack?

What Is a “Double-Spend” and How Does SHA-256 Help Prevent It?

Explain the Concept of ‘Double-Spending’ and How Blockchain Prevents It

In Derivatives, How Does the Use of a Central Clearing Counterparty (CCP) Mitigate Counterparty Risk Similar to How the Blockchain Prevents Double-Spending?

What Is ‘Double-Spending’ and Why Is It the Main Concern of a 51% Attack?

Glossar

Blockchain Structure

Data Organization ⎊ Blockchain Structure refers to the sequential, cryptographically linked organization of transactional data into discrete blocks, forming a linear history of state changes validated by the network participants.