Double Spending

Door CoinGecko | Bijgewerkt op Aug 12, 2021
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.Typically, a double spending attack involves an attacker who first deposits a cryptocurrency into an exchange, then waits for it to confirm. Once it is confirmed, the perpetrator sells the deposited crypto for another currency, and then proceed to perform what is known as a 51% attack to try and reverse the blockchain (and his deposit).If successful, the perpetrator is then able to deposit his tokens again, likely in a different crypto exchange.

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Gerelateerde termen

Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Distributed Ledger
Ledgers whose data is stored and synced across a network of nodes.
Crowdsale
This type of auction has a fixed price per token that is sold on a first-come-first-serve basis.
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
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