What is double-spending on Bitcoin?

Double spending refers to an activity to use the same Bitcoin more than once, thus spending Bitcoin which he/she doesn’t have.

Bitcoin uses the proof-of-work system to distinguish legitimate transactions from attempts to re-spend coins that have already been spent elsewhere (doublespending).

Blockchain technology ensures the validity of a transaction is recorded on a distributed system of registers, all of which are connected through a secure validation system.

Due to the above reasons, doublespending of Bitcoin is impossible.

Posted by Maria Sanchez

• Maria Sanchez's Twitter Account
• Maria Sanchez's Latest Articles

Author Profile

Maria is an expert of financial markets, bringing all the information from English to Spanish for a better understanding of the online traders. She is also a day trader with experience in developing trading strategies that generate profit while minimizing risk and working under high pressured environment. While being a portfolio manager by herself, she focuses on marketing and consultancy of financial and Insurance products.