- An attacker purchases a physical good with a number of native coins
- A merchant transfers possession of the physical good after waiting for a certain number of blocks to be linked to the transaction
- Once the attacker receives the physical good, they create a new branch without the transaction
- For the attack to succeed, the new branch must become as long as the initial branch

University of Minnesota - Twin Cities

A double-spending attack is when an attacker uses native coins to purchase a physical good, but then attempts to reverse the transaction to regain possession of their coins. 

Double spending

Saleh, Fahad. (2021). Blockchain Without Waste: Proof-of-Stake. Wake Forest University. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3183935


Blockchain Without Waste: Proof-of-Stake

- Sufficiently high market cap
- Sufficiently large block waiting time until a merchant transfers a physical good

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