The most prevalent setback of digital payments is the issue of double spending. Thieves online use this as a tool of scamming innocent ones of their hard earned money. So what is double spending? Double spending is a phenomenon where someone spends the same amount they have in their wallet balance twice successfully.
Blockchain is an open distributed ledger that records and confirms digital transactions permanently. It works in such a manner that as soon as a transaction is completed, it will remain unchangeable. It uses the principle of cryptography to protect the ledger and complete transactions. Blockchain only provides addresses making transaction and does not publicise any personal information.
Blockchain protects users against double spending by rejecting any two transactions input from the same block or output to the same block. This makes blockchain extremely secured.