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Double-precision floating-point format is a computer number format, usually occupying 64 bits in computer memory; it represents a wide dynamic range of numeric values by using a floating radix point.
Floating point is used to represent fractional values, or when a wider range is needed than is provided by fixed point (of the same bit width), even if at the cost of precision. Double precision may be chosen when the range or precision of single precision would be insufficient.
In the IEEE 754-2008 standard, the 64-bit base-2 format is officially referred to as binary64; it was called double in IEEE 754-1985. IEEE 754 specifies additional floating-point formats, including 32-bit base-2 single precision and, more recently, base-10 representations.
One of the first programming languages to provide single- and double-precision floating-point data types was Fortran. Before the widespread adoption of IEEE 754-1985, the representation and properties of floating-point data types depended on the computer manufacturer and computer model, and upon decisions made by programming-language implementers. E.g., GW-BASIC's double-precision data type was the 64-bit MBF floating-point format.

Source: Wikipedia