What is Double spend?

What is Double spend?-Definition of all finance terms

Definition of Double spend

It’s one of an error in a digitized world in which same single electronic currency can be used more than one time. It can be easier to be spending more than a single time in a digital currency than a physical currency because digital token contains digital file which can easily replicate or falsified.

Brief Explanation of Double spend

The double spending process can be done easily because any of electronic information can be replicated easily. One of the examples is BITCOIN which is a digital currency and contain a digital file which have electronic information and as we know it can easily be duplicated so before investing in a bitcoin necessarily verify the validity of a coin. For preventing the double spent error there is a many of cryptocurrency techniques or approaches have been taken fundamentally and at the same time for preserving the anonymity in exchanges or transaction there is a record of a blind signature in an offline system.

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