How blockchain cryptocurrency works
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In our previous article (How Public and Private Keys of Cryptography Work), we covered how cryptography works and what role it plays in a blockchain system. We also go over differences between public and private keys of cryptography.
In this article, we continue our discussion on cryptography by discussing how its hash function works.
A cryptographic hash function is an algorithm used to randomly convert a string of binary data into a condensed representation of a message—a message digest. Its output is called a hash value, digital fingerprint, digest, or checksum. It is deterministic and always results in the same hash value for a given message. It is capable of taking any size of data block and producing a fixed-size hash value that uniquely identifies the original data block. It is a one-way, irreversible function; the only way to recreate the input data is to try a brute-force approach with all possible values to see whether there is a match, which is almost computationally infeasible.
Cryptographic functions have been widely used in blockchain technology, including the following:
In the next article (How Digital Signature Works In Blockchain), we move on to the next topic which is how Digital Signatures work and what role they play in a blockchain system.
This article is written in collaboration with Brian Wu who is a leading author of “Learn Ethereum: Build your own decentralized applications with Ethereum and smart contracts” book. He has written 7 books on blockchain development.
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