What is race condition with example?

A race condition occurs in concurrent programming when two or more threads or processes access shared data and try to change it at the same time, leading to unpredictable outcomes. For example, consider a bank account where two transactions attempt to withdraw funds simultaneously. If both transactions read the account balance before either updates it, they may both proceed with the withdrawal, resulting in an incorrect balance and allowing the account to go into overdraft. Proper synchronization mechanisms, such as locks, are needed to prevent race conditions.