The Lost Update Problem is a common issue in concurrent systems, where two transactions read the same data, modify it, and write it back to the database. The second transaction will overwrite the changes made by the first transaction, causing the first transaction’s changes to be lost.
This is especially problematic in cases where money in a bank account is involved, as it can lead to inconsistencies in the account balance. A rather dramatic example of this is the Flexcoin bankruptcy.
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