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Crypto Terms:  Letter R

What is 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.
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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.