🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Crypto Terms:  Letter R
Jul 07, 2023 |
updated: Apr 02, 2024

What is Race Attack?

Race Attack Meaning:
Race Attack - a malicious activity when two transactions are created at the same time using the same funds to spend them twice.
easy
1 minute

Let's find out Race Attack meaning, definition in crypto, what is Race Attack, and all other detailed facts.

The race attack is a particular kind of a double-spend attempt. It requires the recipient to accept payment for unconfirmed transactions.

The attacker sends the victim an unconfirmed transaction. Meanwhile, they broadcast to the network a conflicting transaction. Since the victim observed their own transaction first, they believe they will be paid. However, since the rest of the network saw the double-spend first, it’s likely that the victim will not get the money.

Such an attack is significantly easier to carry out when the attacker has a direct connection to the victim's node and deposits the conflicting transaction directly to the miners.