Bitcoin Double Spending - 10% Beneficiary set to @tron-fan-club
Assalamu Alaikum I hope everyone is very well, and I am also very well in the infinite mercy of Allah and your prayers Alhamdulillah. Today I discuss with an important post among you. I hope you like my post today. I will discuss with you about bitcoin double spending. Not many of us really know about Bitcoin double spelling. I think we should all know about this.
In fact, we all know that bitcoin double spending is a very common problem. And you can read about this problem too. That's why you should know about this double spending before reading this problem. And that's why I think it's so important. So today I will discuss with you about double spending. First of all I will tell you that double spending?
If I want to tell you about double spending, I must first explain with an example. Suppose you went to a showroom to buy the car you wanted to buy and when you went there you saw that you liked two cars. But you have the money to buy a car. Now if you want to buy two cars but you will need double money. But you have enough money to buy a car. But there is no way you can pay for two cars from this showroom.
And then you become helpless. Here you can spend money once and not use it a second time. That means there is no chance of double spending offline or in our regular transaction method. However, in the case of bitcoin transactions, this double spending can be a problem. Now we will go to 1 more example. Suppose you buy a car online. I saw different showrooms to buy a car but you prefer two cars from 2 showrooms (let's say 1 car here costs 1 bitcoin) but you have 1 bitcoin now you can do double spending using that 1 bitcoin which means you can use it twice.
Send 1 bitcoin to 2 showrooms at the same time as car payment. In other words, I sent 1 bitcoin in a double transaction at the same time. After sending Bitcoin, the transaction will go and be deposited in a pool. Where thousands of unconfirmed transactions lie. In other words, the transactions that have not yet started mining by accepting any minor. Now you can assume that a minor has started mining to create a block by transacting in the 1st showroom and the sent transaction lying in his pool will be invalidated and will be excluded from the pool. Meanwhile the other transaction will be validated. In this way, Bitcoin is basically double spending.
This was my discussion about Bitcoin double spending today. I hope you understand a little bit. So far today I have finished here. I will appear before you in the coming days with some more important posts. Until then, everyone will be healthy and well. I am ending with many good wishes for everyone.
Bitcoin Double Spending well shared with us. Thanks for sharing
welcome my brother
This is a very important topic and we all need to know about Bitcoin double spending and you have a very good discussion about this.
Yes,brother iit is very important topic. thanks for your nice comment and good luck to you.
Twitter link
Note: You must enter the tag #fintech among the first 4 tags for your post to be reviewed.
Informative. That's why the mining system is there in the Bitcoin Blockchain. Solving critical algorithms by Minning PCs are validating each & every transaction and thus eliminating this problem of Double spending. Thanks for sharing on this nice topic.
very informative post you share with us. Thank you for sharing sister
You are welcome brother
Nice post about Bitcoin Double Spending. A very important post.
You are right brother. Thanks