Double spending refers to the risk of a digital currency being spent more than once. Since digital information can be copied easily, there is a concern that a person could duplicate a currency unit and use it in separate transactions.To prevent this, blockchain technology employs a decentralized ledger system. Each transaction is recorded in a block and linked to previous blocks, creating a chain. This chain is maintained by a network of participants who validate transactions.When a transaction is initiated, it requires confirmation from multiple network nodes. If someone attempts to double spend, the network will reject the second transaction by already having recorded the first one. This mechanism ensures that each currency unit has a single, verifiable history, making fraudulent duplication nearly impossible. By addressing the double spend issue, digital currencies can maintain their integrity and trustworthiness, assuring users that their transactions are secure and legitimate.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to