Bitcoin spending-Everything you need to know about it

in #bitcoin6 years ago

pexels-photo-730557-768x541.jpegAccording to the Bitcoin Glossary, a Double Spend is a transaction that uses the same input as an already broadcast transaction.
WHAT YOU NEED TO KNOW!!
How do Bitcoin solve the double spending problem.
However, Bitcoin’s blockchain keeps a record (on an immutable ledger) of all the transactions that occurred since its launch in 2009.Bitcoin defends against this by confirming which transaction is included in the block first. A block is nothing more than a group of transactions, and it is added to the ledger once every 10 minutes.960x0.jpg
WILL BITCOIN REACH FOURTY THOUSAND U.S DOLLARS THIS YEAR?
EXAMPLE SITUATION
A good example of this is if someone sends a sum of BTC to a merchant and then tries to send the same BTC to another Bitcoin address. In this situation, both transactions have the same rank in the network as they are “placed” in the pool of unconfirmed transactions. There are very few chances that the transactions will get pulled from the pool simultaneously.
I hope this guide will help all steamian here to gain a bit more knowledge about one of the fundamental aspects that make Bitcoin the thriving and incredible cryptocurrency it is today.
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