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Hashing and Hash Function in Cryptocurrency

Hashing means taking an input string of any length (input won’t have any fixed string length) and giving out an output string of a fixed length. The cryptocurrencies like Bitcoin and Altcoins use hashing. The transactions made in a cryptocurrency are taken as the input and the transactions are run through a hashing algorithm that gives an output of a fixed length. Bitcoin uses SHA-256 hashing algorithm.

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Hashing and Hash Function in Cryptocurrency

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  1. Hashing and Hash Function in Hashing and Hash Function in Cryptocurrency. Cryptocurrency.

  2. WHAT REALLY IS HASHING? Hashing means taking an input string of any length (input won’t have any fixed string length) and giving out an output string of a fixed length. The cryptocurrencies like Bitcoin and Altcoins use hashing. The transactions made in a cryptocurrency are taken as the input and the transactions are run through a hashing algorithm that gives an output of a fixed length. Bitcoin uses SHA-256 hashing algorithm.

  3. THE NEXT QUESTION THAT YOU MIGHT HAVE RIGHT NOW IS, “how does hashing work.” Let’s say that we are trying to put in certain inputs while we’ll be using the SHA-256. For the record, SHA-256 is also known as Secure Hashing Algorithm 256. So, when you’re using SHA-256, it doesn’t matter how big or how small your input is, the concluded output will always have a fixed 256-bits length. This is the basic. There is nothing beyond this. But this becomes critical when you’re dealing with a large amount of data and a huge amount of transactions.

  4. This is what hashing is all about and if you want to dive further into the Cryptographic hash function then you should read the following:- Cryptographic Hash Functions:- A cryptographic hash function is a hash function that is special because various properties make it ideal for cryptography. There are certain properties that determine a Cryptographic hash function and these hash function follows a strict protocol in order to be considered secure.

  5. Property No. 1 DETERMINISTIC – According to this property you can parse a particular input as many times you want to through a hash function but in the end, the result will be the same. This might be critical if you get different hashes each time and it will be impossible to keep track of the input.

  6. Property No. 2 QUICK COMPUTATION – The hash function must be capable to return the hash of an input quickly. Just make sure that the process is fast enough because if it isn’t then the whole system simply won’t be efficient. Property No. 3 PRE-IMAGE RESISTANCE –Per-image resistance states that it is infeasible to determine where is the input and the output. But this said so it is not entirely impossible to determine the original input from its hash value.

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