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← Back What is double spending? Definition Double spending is the risk that a digital currency can be spent twice, undermining trust in the network and essentially making the currency worthless. Understanding the problem of Double Spending Double spending is one of the main challenges faced by all cryptocurrencies. It is essentially where a unit of crypto can potentially be spent twice, meaning false and illegitimate transactions could occur. If double spending was to occur successfully, it would completely undermine the security & trust of the entire network, destroying any value that digital currency had. This problem is why digital currencies like Bitcoin…http://digitalsurge.com.au/education/wp-content/uploads/2021/07/crypto_visual.png