Double spending is a type of fraud in which a person or entity tries to spend the same cryptocurrency twice. This is possible because digital currencies are not physical objects.
To double spend, a person would first send a cryptocurrency transaction to one recipient. Then, they would quickly create a second transaction that spends the same cryptocurrency to a different recipient. If the second transaction is processed before the first transaction, the person would be able to spend the same cryptocurrency twice.There are a number of ways to prevent double-spending in blockchain networks. One way is to use a consensus mechanism, such as proof-of-work or poof-of-stake.
