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This infrastructure reduces the possibility of an online payment issue known as double-spending. Double spending occurs when a user tries to spend the same cryptocurrency twice.

Double spending is prevented in the traditional banking system because reconciliation is performed by a central authority. Bitcoin, however, has thousands of copies of the same ledger and so it requires the entire network of users more info unanimously agree on the validity of each and every bitcoin transaction that takes place.

Just as banks constantly update the balances of their users, everyone that has a copy of the Bitcoin ledger is responsible for confirming and updating the balances of crypto colo center corp bitcoin holders. So, the question is: How does the Crypto colo center corp network ensure that consensus is achieved, even though there are countless copies of the public ledger stored all over the world.

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