What is double spending attack?

A double-spend attack is a problem unique to digital currencies in which one user can spend the same digital asset more than once. … Bitcoin has been countering the double-spending problem successfully, but not all cryptocurrencies use the same consensus algorithm.

Can more Bitcoin be created?

Bitcoin is like digital gold in many ways. Like gold, bitcoin cannot simply be created arbitrarily; it requires work to “extract”. … For this reason, there will only ever be 21 million bitcoins ever produced. On average, these bitcoins are introduced to the bitcoin supply at a fixed rate of one block every ten minutes.

Can the same Bitcoin address be generated twice?

Yes, it is possible to generate the same address twice. There is nothing in the Bitcoin protocol that enforces that an address you have in your wallet is not also generated by someone else.

How much is a single Bitcoin?

Four years later, bitcoin experienced a meteoric rise and reached record highs, with some exchanges having the price of a single bitcoin at approximately 20,000 U.S. dollars in late 2017.

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