What is Double Spending? Is it possible to double spend in a Blockchain system?

Because the token is generally made up of a digital file that can be readily duplicated, it happens when a single digital token is used several times. Simply said, it generates inflation, forcing companies to incur a big loss. One of the major aims of Blockchain technology is to completely eliminate this technique.

By requiring several parties to validate a transaction before it is recorded to the ledger, the blockchain prevents double-spending. Bitcoin’s whole structure of Blockchain, mining, proof of work, complexity, and so on exists to establish this history of transactions that is computationally impossible to modify.