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Browsing Concept: Irreversible Transactions

Irreversible transactions are a characteristic of digital payment systems which offer trustless decentralization. The irreversibility is necessary in order to guarantee that no transaction will be undone once committed by the network.

One publication found under Irreversible Transactions

Understand the Double Spending problem
As implied by the name, a double spending problem happens when a transaction is processed twice while your account balance is only subtracted once. This, of course, can only h...

Concepts In This Page

Double Spending - Double spending is a condition where the same value can be spent twice, revealing a flaw in the payment processing system.
Irreversible Transactions - Irreversible transactions are a characteristic of digital payment systems which offer trustless decentralization. The irreversibility is necessary in order to guarantee that no transaction will be undone once committed by the network.

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