What is Double Spending?

Double spending is a potential risk in digital transactions where the same unit of cryptocurrency is spent more than once, leading to a loss of trust and integrity in the transactional system. In blockchain technology, double spending is prevented through the consensus mechanism and cryptographic techniques that ensure the uniqueness and validity of transactions. By maintaining a decentralized and immutable ledger of transactions, blockchain networks like Cardano eliminate the possibility of double spending and enable secure and reliable peer-to-peer transactions without the need for intermediaries.